Snip Universe Light paper
Snip Universe is a DeFi-powered ecosystem for customizable digital identities. It introduces the Snip ReBASE NFT, a highly liquid and adaptable artwork with limitless supply for NFT HYPER-FINANCIALIZATION. A Dressroom facilitates personalized NFT customization and Token Bound Accounts. The Snip Universe ecosystem incentivizes creators through $SNIP distribution, fostering liquidity, pricing confidence, utility and innovative revenue models. Snip Universe is specifically designed to leverage developments such as NFTpools and creator-owned liquidity as a counter-system to expired royalty models.
Article content:
- A Universe of Snippets
- Minting Booster Sets
- Dressroom
- Token Bound Accounts
2. NFT-Fi Mint of Snip 21.07.23 on Scatter
- NFT-Fi Incentive Programs for the Snip Universe
- NFT-Fi $Snip Tokenomics
Welcome to the Snip Universe
A Universe of Snippets
Snip Universe is an ecosystem for customizable digital identities supported by deep DeFi liquidity. Snip is a Next Gen NFT without royalties and rarities instead it is an optimized collection for the DeFi sector to achieve the deepest possible liquidity. The artwork is purposefully designed to enable effortless Snippet customization, ensuring that Snip possesses exceptional adaptability and uniqueness. Snip is perfectly suited for representing digital identities or crafting autonomous decentralized non-player characters (NPCs) based on ERC-6551. Snip offers the opportunity for personalized customization and unlocks an infinite range of utilities bound to snippets, thereby transforming the Snip Universe into a captivating realm for creativity and innovation.
Minting Booster Sets
The Snip Universe is minted in Booster Sets which consist of a full body PFP (ERC-721A) and the associated traits (ERC-721A). Snip Universe is open to third party artists and creators who like to contribute to the Snip Universe with their own collections and snippets, which can lead to Snip derivatives that can be tied to various utilities.
Dressroom
The Dressroom is a vizualizer for customizable NFTs. It is possible to exchange any traits and create a unique personal NFT. Images can be saved and shared as png or minted as ERC-721. Choosing to mint the NFT, will stake the selected traits and a new unique NFT will be rewarded. Choosing to burn the unique NFT will unstake the traits again.
Token Bound Accounts
Furthermore the Dressroom gives the option to create Token Bound Accounts (TBAs) based on the ERC-6651. With the improvement of TBAs each NFT receives sovereignty over its own wallet which can be used to create a on-chain digital identity or even non-player character (NPC). TBAs are able to take custody of any other assets like ERC-20, ERC-721 and ERC-1155 themselfes. Opening the door for new applications and innovations in the NFT sector.
Token Bound Accounts (TBAs) have various use cases, below are a few:
- Digital fashion
- DAO memberships and contribution historys
- Direct airdrops
- On-chain gaming
- On-chain identities
- Decentral service NPCs
- IoT services & oracles
NFT-Fi Mint of Snip
The Supply of Snip is limitless making Snip a ReBASE NFT in the DeFi realm. After the initial “Big Bang” Mint of 10000 NFTs Snip ReBASE will be distributed on a linear selling curve on an infinite scale through an NFTpool. This enables a few properties which are known from bonding or Project-Owned-Liqudity. Also it allows interesting arbitage possibilities between NFTpools and the Mintpool. Mainly it allows the onboarding of new users and does not limit user growth within the collection over time unlike blue chip NFT collections.
The initial “Big Bang Mint” will happen in Booster Sets. Each Set constist of a full body PFP and the matching snippets, each as a separate ERC-721A. While all snippets can be used in the dressroom, the full body PFP additionally can be used for incentivized LPing in Snip´s Universe ReBASE NFT liquidity minging program.
Snip Universe uses its own currency $SNIP which will be distributed through NFTpools to LPs making Snip ReBASE one of the most liquid collections in the NFT Space.
NFT-Fi incentive Programs for the Snip Universe
$SNIP is also distributed to artists through NFTpools who launch mints of booster sets in $SNIP and expand the Snip Universe with characters, snippets and utility. $SNIP is incentivizing creative innovation in the Snip Universe on an ongoing bases while focusing on the most important members, the creators & LPs!
- The enrollment in the creator incentive program depends on the TVL of the creators mint. A leaderboard which is updated every 4 weeks compares the top mints by TVL and supports the creators with a $SNIP incentivized NFTpool lasting 4 weeks for the creator’s collection.
- The second incentive program supports creators in the sustainable value development of their collection. Therefore the incentive program is focused on volume within the collections NFTpool. A leaderboard which is updated every 4 weeks compares the top NFTpools by volume and supports the creators with a $SNIP incentivized NFTpool lasting 4 weeks for the creator’s collection.
Most importantly, it creates the liquidity needed to trade NFTs reliably. Lack of liquidity leads to reduced market efficiency. Lack of price discovery leads to lower confidence among market participants, which in turn reduces innovation and growth for the entire NFT market.
The incentivaztion also enables new revenue models for creators. Creators no longer have to rely on royalties that hinder liquidity and pricing, but own their own liquidity within the NFTpools and benefit from increased volume by fees and rewards. Mints where the capital is vested in NFTpools soon become the new standard.
NFT-Fi $Snip Tokenomics
Community allocation:
(57% | 922.279.373 SNIP)
- ReBASE NFT liquidity mining program 3 years, monthly vested.
(15% | 242.705.098 SNIP) - Creator mint based NFT liquidity mining program. 4 years, monthly vested.
(20% | 323.606.798 SNIP) - Creator volume based NFT liquidity mining program 4 years, monthly vested.
(20% | 323.606.798 SNIP) - ERC 6551 Airdrop (2% | 32.360.680 SNIP)
Ecosystem fund:
(15% | 242.705.098 SNIP)
- Ecosystem fund allocation 3 years, monthly vested
( 15% | 242.705.098 SNIP)
Team allocation:
- Team allocation 3 years, monthly vested.
(20% | 323.606.798 SNIP) - Cap Table allocation 3 years, monthly vested.
(8% | 43.147.573 SNIP) - (25% Team bonus from ecosystem fund when $SNIP reaches $1 billion market cap.)
Snip Universe is supporting artists to gain liquidity right from the start as well as users to gain more confidence in pricing of collections. The deep liquidity of the floor creates a perfect environment in which innovation can flourish in the form of art, utitlity and DeFi dapps, making the Snip Universe the perfect bootstrap ecosystem for creators!
Follow Up:
Medium article
