NFTR Tokenomics Revamp
Edit: When this article was written, tokenomics was a work in progress. Some details might have changed. To see the most recent version of tokenomics please explore the docs.
We are proud to share the specifics of a massive NFTR Enhancement. Now, we transition to our sprint towards Launch. With this announcement, we begin outreach to notable players in the space for our Strategic Token Sale, which will provide important funding for team expansion + liquidity upon Launch.
NFTR (Nifter) is the first NFT naming registry on Ethereum, and aims to be the go-to place to name and reference NFT names, as ENS did with Ethereum addresses. Each name is 1/1 unique and transactable, adding a value layer to NFTs.
NFTR tokenomics include platform ETH revenue streaming to staked RNM token holders in perpetuity. Additionally, Naming is incentivized, as it can return RNM rewards that exceed the naming cost (up until a threshold of daily volume). NFTR will distribute 100% of ETH naming fees and Name Marketplace trading fees to stakers. Naming incentives will ensure substantial volume + activity.
Total RNM Supply: 1B
Tokenomics Innovations
1. Utility-Strengthened Floor: NFT naming can be paid for with 0.05 ETH or 1,000 RNM (platform token). ETH fees distribute. RNM fees burn. If 1,000 RNM < 0.05 ETH, RNM has buy pressure and deflationary pressure until floor is regained. Therefore, token has a built-in floor value of 0.00005 ETH/RNM with unrestricted upside. If 1,000 RNM > 0.05 ETH, platform accrues ETH revenue.
2. Magnified Yield: Monthly distribution totals increase to sustain early stakers’ yield amid increasing participation.
3. Golden Tickets: Our most precious asset is currently minting and burning (live) on a bonding curve. Each GTK affords one of four game-theoretic choices: a. Using the ticket to register an NFTR Top 1000 Name. b. Staking it to receive ETH revenue while staked. c. Spending it to receive ETH revenue in perpetuity + RNM yield. d. Burning for profit after bonding curve price progression.
Platform Growth Plan
Our tokenomics are designed to sustain volume and incentivize usage until NFTR becomes the consensus platform for naming and reading NFT names. Succinct growth plan:
1. Display NFTR names on notable marketplaces and NFT museums alongside NFTs.
2. Twitter + Discord bots to announce namings, Golden Ticket minting, top 1000 name claims, name sales and more.
3. Create FOMO for popular names, as they will be re-sellable on our Name Marketplace.
4. Airdrop 2,050 RNM to each of the first 60,000 LooksRare users.
Golden Ticket Holders should note that the value proposition of Golden Tickets has become much more dynamic with this evolution, outlined below:
Golden Ticket Uses
Mint + Hodl
Golden Tickets (GTKs) can be bought off the bonding curve and held in a cold wallet, either for future redemption (Top 1000 Naming) or burning (for current ETH exit liquidity).
Redeem (Register a Top 1000 Name)
GTKs must be redeemed (in addition to 1,000 RNM or 0.05 ETH) in order to claim a name from the NFTR Top 1000. The list of 1,000 special names that require burning a Golden Ticket can be found here. The list includes highly coveted names such as Vitalik, 0x0, Steve Jobs, Bill Gates, Danny, etc. Redeemed Golden Tickets are forever removed from circulation. GTK Redemptions raise the Bonding Curve floor forever, since redeemed GTKs can never be burned for ETH.
Stake
Staking GTKs entitles Stakers to a proportional share of 10% of all ETH revenue generated by the protocol, while staked. GTKs can be unstaked at any time in order to be Redeemed, Burned for ETH, or Spent.
Spend
Spending a GTK entitles the spender to a proportional share of magnified RNM yield from the initial supply distribution across the first 12 months, in addition to a proportional share of 10% of all ETH Revenue generated by the NFTR Protocol in perpetuity. Spending a GTK removes it from circulation forever. It is advantageous to spend a GTK as soon as possible to maximize the RNM Yield potential, which is the key differentiator between Staking and Spending. Spending GTKs raises the Bonding Curve floor forever, since spent GTKs can never be burned for ETH.
Spent GTK Yield will begin at 3,500,000 RNM total throughout month 1, accumulating per block. The monthly total will increase by 500,000 RNM each month until concluding with 9,000,000 RNM total distributed during month 12.
Burn
GTKs can be burnt in exchange for 90% of the cost in ETH of the most recent GTK purchase.
VIP Opportunities
The NFTR Protocol will implement additional uses for Golden Tickets in the future to further prioritize and serve GTK holders as the premium participants within the NFTR ecosystem.
Other Resources
Live site:
Updated Docs:
