Ooze.finance is an innovative take on the daily ROI dApp, read on for an introduction to the NFT central to the workings of the system!
Ooze.finance just came out of the pre-sale, and those lucky enough to have a whitelist spot, or that partook in the public pre-sale, have had a chance to mint their NFTs. With the launch date set to the 16th of June, the beginning of an awesome adventure is nigh — the time to hop on is NOW! Or should I say “dive in”? We are after all diving into the sewer in this fun gamifcation of a daily ROI dApp!
Before we dig into how NFTs like this one plays a role in the ooze.finance ecosystem, lets break down some of the terms used for those new to the NFT/blockchain/dApp-sphere!
- Daily ROI: daily return on investment. Something that returns a daily % on your investment.
- dApp: decentralized Application. An application that runs on the blockchain, in other words not a centrally located (and owned/controlled) server.
- Tax: all dApps with a daily return on investment, if they are to stand even a mediocre chance of success, rely on taxes. In ooze.finance all transactions are taxed at 10% (buy, sell, transfer, compound etc.). The only exception where there is no tax, is when you buy ooze at the ooze.finance site with USDC.
- NFT: non-fungible token. The least self-explanatory term, but really rather simple. Fungible means something that can be exchange for something else, without a difference between the items exchanged. For example: If you exchange a 100 dollar bill with ten 10 dollar bills — there is no real difference. A non-fungible token on the other hand is unique, and can’t be replaced by something else.
OK. So ooze.finance is a dApp that returns a base 1% of your investment daily. Those familiar with other daily ROI dApps, or with compound interest in general, know the power of a 1% daily ROI that can be either claimed (returning value on your investment), or compounded (increasing your stake in the contract). If you are not convinced of the power of daily interest compounded, please play with some numbers using this simple calculator.
The Ooze NFT
What sets ooze.finance apart? Rather than sending your tokens (in this case the ooze token) to a contract that locks them up and returns a daily % for you to compound or claim, you get an NFT when you deposit your tokens. This NFT represents your stake in the contract.
So what? you might think. Well with an NFT a world of opportunities arise. In my opinion the most exciting, and innovative beyond the arcad-game feel and gamification of the whole system, are: upgrades, transfer/sale of NFT, and the possibility of multiple NFTs (ie. “stakes”) from the same wallet.
For the NFT-crowd out there: yes, there are also traits for the individual NFTs, making some NFTs more rare than others, completely separate from the amount of ooze deposited.
Upgrades
The NFT has three attributes that you can be upgraded by expending experience points (XP). You earn experience points by doing actions that contribute to the well-being of the ecosystem, such as compounding, airdropping ooze to your team and staking the liquidity pair (ooze-usdc, aka slime) to the “xp-pool”.
Common for all three attributes are that they increase the base stats of the contract.
Strength
Strength increases the amount you can claim. The base strength stat of the NFT (aka how much you can claim) is: 365% of your deposit times 8. For example will a 100 ooze deposit be capped at 2920 ooze claimed:
100 x 8 x 365% = 2920
By expending xp on the strength you can increase this to 12 times your deposit:
100 x 12 x 365 = 4380
In other words: you can increase the amount you can claim from 29 times your deposit to 43 times your deposit by doing actions that benefit all in ooze.finance!
Speed
Speed basically refers to the daily percent of your stake returned to you for compounding or claiming. The base 1% can be increased to no less than 2%!!! If you don’t think three exclamation marks was deserved, please scroll up — go to the compound interest calculator — set a principal amount, 365 days, 1% be amazed — increase to 2% interest, and get your mind blown.
Stealth
Stealth is in some ways the trickiest of the three attributes, and some more background for the whole ecosystem is needed to explain this attribute. As mentioned above tax fuels ooze. When you claim, sell or compound you pay a 10% tax to the contract balance, which again is what pays out the daily ROI.
When you first deposit ooze, a 10% tax is levied. If you deposit right under the system wallet (top of the chain) you get 25% of the tax returned to you. You can also choose to deposit under other members of the Order of Slime by choose a gurus referral ID. Now, when you mint your NFT you can choose between Order of Slime (team) or BioPunks (auto-compound).
The difference between the two is the subject of an other article, but basically as a BioPunk you are a “free agent” and all tax goes to system wallet As a member of the Order of Slime you can both get team members (your own or other peoples NFTs), and you benefit more from the team you are a member of. When you deposit under a guru as an Order of Slime disciple you get between 25% and 75% of the tax returned to you. How much is returned is visible when you enter the referral ID you wish to deposit under — and is locked for the duration of your NFTs lifespan.
On further claims and compounds the tax goes on a round-robbin system, 15 levels deep. When the round robin hits gurus you get a kickback according to their kickback rate (between 25 and 75%). After hitting the system wallet (top of the chain) the next x levels hits the contract balance, before returning to your guru.
When your tax hits the system wallet or the balance, they return the minimum 25% of the tax back to you. And that’s where stealth comes into play! By increasing this stat you can go from 25% to 75% kickback!
PS. A key take-way from this is also the fact that, as opposed to most other similar dApps, there is no benefit to being close to the system wallet — if you go with the Order of Slim you are better served with a guru above you.
The bigger you are the more you need
And here is the real kicker: as your stake grows by compounding your daily ROI, so does the amount of experience needed. This is a truly innovative take on the daily ROI dApp, and I’m super bullish for the long term health of ooze.finance. Add to the fact that all xp-generating actions benefit the community, that team-builders need slime, aka the liquidity pair ooze-USDC, to benefit from their teams taxes, and you have a near self-perpetuating system with a liquidity pool that gets deeper and deeper as we go!
Want to read more? here is the whitepaper
Stay tuned for more articles coming up delving deeper into other aspects of ooze.finance! Got any particular aspects you want more information on? Let me know in the comments section and I’ll see what I can do.
I’m part of the slimbees, the biggest, friendliest and most knowledgeable ooze community! If you want to join ooze.finance, please consider using my referral ID to get access to the SlimeHive telegram group as well as the big group slimebees. Send me a message on telegram when you have joined — or with questions/assistance getting you set up!
For those that join the Order of Slime I offer 75% kickback on your deposit, and all future taxations that hit the SlimeHive, the same goes for my guru!
To join my team, either enter this referral ID (case sensitive!) @SlimeHive or follow this referral link:
Contact me on telegram (please reference ooze or this article when you do)
NOTE: The amount deposited when you mint your NFT goes to your stake in the contract balance, 90% which are locked, and not withdrawable. The remaining 10% goes to the referrer minus the kickback. In exchange you receive 1% of that staked amount which is claimable on a 24 hr basis. The uniqueness of ooze.finance is that your deposit is tied to an NFT, not to your wallet. This means that you can, if you need the funds, sell your NFT — an NFT that will have gained in deposits and experience since you minted it increasing its value proportionally!
Nothing in this article is to be construed as investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits or losses you may incur as a result of this information. The article may contain affiliate links.
