Stake to earn $THREAD
GM fellow socks! It’s Saturday night here in New Zealand, and I can’t think of anything better than to be writing out this $THREAD medium article. I’ve been so excited thinking about what’s ahead of us and all the utility unlocks that will come with $THREAD, and I wanted to share this with all of you who might not completely understand the use-cases or how it will impact your experience and future entertainment within Sock World. So let me break down the roadmap and utility we have planned for $THREAD so far…
Stake to earn $THREAD
We recently launched our portal, and the ability for everyone to stake their socks to earn $THREAD. As of writing, we are sitting just under 60% staked, which is amazing to see. Thank you to all of you believers who have staked and are stacking their $THREAD. If you haven’t started staking, you will want to get to this soon. Those who stake early will have a significant advantage over the late comers, as they will have more $THREAD to take advantage of some of our first limited drops (more coming to that soon). To stake your socks, visit our portal here: https://www.lostsocks.io/portal
Staking should be well optimized with our efficient contract setup.
Innovation around token generation.
We wanted to do things a bit differently at Lost Socks, and we did tell you that our enlightened lefties would hold more power in the Sock World universe thanks to the Laundry God. Our development team have created token generation, linked to the metadata of our NFT’s. Meaning lefties generate 4 $THREAD per day, and the unenlightened righties generate 2 $THREAD per day. We hadn’t heard of a project doing this before, and we wanted to create more value around the lefties tribe. There will be more value unlocks for lefties in the future, stay tuned ;)
Utility for $THREAD
We envision $THREAD to power our entire Lost Socks eco-system for many years to come. When our utility unlocks, we will be applying liquidity to our token so it can be traded on platforms such as dextools and uniswap. Let’s dive into the utility unlocks you can expect in the near future:
1.Lost Socks VX
Each Lost Sock you hold, will be able to mint 1 Lost Socks VX with $THREAD. When you mint a Lost Socks VX, you will have a random chance to roll new traits. Our VX collection is almost complete, and is looking awesome. The VX collection will be important to unlock our P2E game on Sock World (The Sandbox) and will be your playable character that you can use in this metaverse (as well Decentraland and others). We will have a whitelist and public sale at the same time as the Lost Socks VX claims, with a price TBC.
We have been hard working on limited edition NFTs, wearables and accessories that you can use in Sock World. These accessories have never been done, and we’ve shared some of our ideas which include skateboards (these can be used by other VX models too) springs, and legendary swords. The idea around some of these limited edition NFTs, is they will be able to be used in our game and will give users certain advantages to the P2E game. Each NFT that's listed in our Laundromat store will have a limited supply, favouring those who take swift action. We also plan to list real world items such as sock redeems, whitelists, and other innovative items and gifts that you can redeem with $THREAD. The laundromat will always be open for business.
We are currently working through setting up snapshot.org to enable governance and voting with our$THREAD token. Your holding of $THREAD will give you weight on key decisions for our project and plans moving forward. We value the opinions and suggestions of the community, and we want to shape our project with you all.
4.Future expansion and collections
We plan to innovate and add value to all holders, and you can bet $THREAD will power future expansion of our project. $THREAD will unlock these opportunities to their holders. Don’t hold a genesis Lost Sock? No problem, you will still be able to buy $THREAD from dextools or uniswap from other users.
We’ve put together the following tokenomics infographic for $THREAD.
We will keep building Lost Socks, and deliver exceptional products, experiences and value to all holders. Stay tuned and stay blessed!
Team Lost Socks