Build Your Own Harem
Note: Some of the information in this article is outdated for e.g. HAREM emissions and prices of NFTs. Please ask the admin in the Telegram group for up to date emission/NFT price rates.
Oh, Anon — how we have missed you! The WAIFU team has spent the past few months developing our own unique way to stake WAIF tokens and receive highly collectible rewards. The time is finally here to unveil our HAREM farm and some details on this brand new batch of NFTs which will satisfy even the loneliest and most discerning anime fans. No blurred images. No private artwork. Just badass anime waifus that you can earn, trade, and collect.
The Waifuverse is about to get a LOT bigger. One of the early lessons with WAIFU was the huge lead time for a fully colored piece from a skilled artist. Moreover, most of the attractive talent is based in Japan and beholden to strict laws governing international sources of income. It has been quite an undertaking for the WAIFU team to commission and organize so many pieces, but our art spreadsheets are full of finished stuff that we are ready to give away! After working with dozens of artists and illustrators our first batch of HAREM NFTs are ready to show off! So, what are they? How many are up for grabs? All answered below.
Not Like The Other Girls…
After looking at other NFT offerings in the space it was clear that a few problems plague nearly every project and result in a truncated hype cycle and a dubious secondary marketplace for lackluster digital artworks. The first and biggest issue being quality of the work itself and fair compensation for artists. It’s painfully obvious that cryptocurrency projects offering “collectible” pieces have little understanding on what truly makes an ERC-721 or 1155 token valuable. Many images are supplied by the most affordable artist on Fiverr.com or a competing task-based service for low-tier work. In addition to this, many DeFi founders do not understand that scarcity has outsized effect on the value of digital collectibles. Even series’ that feature prominent artists have made the mistake of creating hundreds of copies of a single artwork. This results in a diluted supply of tokens that are less desirable because of how common they are. In short, ubiquity breeds banality. The WAIFU Project seeks to remedy these problems and more through how tokens are issued. What is WAIFU doing that is different from everybody else?
First, we offer a variety of high quality artworks that have been designed for our specific original characters. Each NFT is inspired by a notable cryptocurrency project and a character sheet was created before we contacted a professional illustrator with our request. Unlike some projects which go for a caricature of an existing person, WAIFU is committed to using our creative powers to imagine an ideal virtual girlfriend and we have a fantastic pipeline for getting these concepts to artists who will continue working with us. And although we will still plan on future auctions of some very special NFTs, we will be pivoting to a farming system that incentivizes both single and dual-asset staking pools. Let’s dive in and see what this means.
How To Farm for HAREM NFTs
After some consideration and community input on the heels of our first NFT auctions, the WAIFU team has decided to implement a system that presents more opportunities for users at all levels to claim their own digital girlfriend! One sacrifice that we made early on with the first group of collectibles was an insistence on doing single token auctions while offering no viable options for small wallets to get involved; many fans felt they could do little but watch as larger bidders eclipsed their holdings. While quality over quantity has always been a guiding principle for WAIFU, we feel it is necessary to offer more variety while still keeping a ceiling on the total number of collectible artworks that are part of the Waifuverse. All of these new ERC-1155 collectibles are available as a reward for participation in our HAREM farming pools.
Typical farming schemes require users deposit an equal part ETH to match the native ERC-20 token and commit a 1:1 asset ratio to a Uniswap liquidity pool. The biggest downside for such a design is the possibility of impermanent losses. “Impermanent loss” is a bit of a misnomer: losses can become quite permanent if an asset nosedives 90%, or worse if the liquidity pool is drained entirely, leaving unsuspecting liquidity providers with a large amount of the native ERC-20s but very little ETH to trade it against. This is an obvious unintended consequence of reward-based staking systems and we wanted to provide the option for fans to earn HAREM tokens without needing to supply additional ETH or risk their WAIF balance. Although staking WAIF only will yield fewer HAREM tokens per day (1/3 of the LP rewards), there is a lower risk of forfeiting WAIF tokens to the pool due to impermanent loss. On the other hand we have determined that LP stakers will hold a significant advantage and earn a bonus for helping to grow our liquidity pool.
Please note that the ETH and USD value of WAIF are irrelevant for staking purposes. Users can stake WAIF or LP tokens at any point and HAREM claims are not subject to any penalty or unbonding period. HAREM tokens are non-transferrable and all redeemed HAREM is permanently burnt to a 0x00 address. There is neither a supply cap nor a maximum number of HAREM tokens users may earn. The maximum amount of HAREM tokens rewarded in a day is capped at 100 for LP stakes of 10M WAIF. Wallets staking 10M WAIF in the single asset pool will receive 30 HAREM tokens in a 24 hour period.
DAILY HAREM EMISSIONS
SINGLE ASSET
1 WAIF = 0.000005 HAREM
10M = 50 HAREM
DUAL ASSET
1 WAIF + ETH = 0.00002 HAREM
10M WAIF + ETH = 200 HAREM
HAREM NFTs
There will be 5 different levels of WAIFU collectibles available to claim with HAREM tokens. Not all NFTs are created equal! Each level of rarity will have a base HAREM price. The most prized ones — heirloom and legendary — feature beautiful animated illustrations that stand out beyond the crowd! As part of our commitment to making this a platform for artists, each illustrator will receive a percentage of sale from the heirloom and legendary class as they get auctioned and get a copy of the common, rare and super rare NFTs, much like how printmakers keep their artist’s proof prior to the first edition.
HAREM NFT emissions and cost per NFT on initial release are listed below:
HEIRLOOM (x2) = 1400 HAREM*
LEGENDARY (x5) = 700 HAREM*
SUPER RARE (x10) = 300 HAREM*
RARE (x15) = 200 HAREM*
COMMON (x25) = 100 HAREM*
Note: PRICES OF NFTs WILL CHANGE AS TIME GOES ON. THESE PRICES ARE NOT GOING TO REMAIN STAGNANT.
There will be only three copies of each HEIRLOOM NFT available to claim on our portal and we expect these to be highly prized. Of course, NFTs can be listed on a secondary market for now and we encourage users to facilitate price discovery by asking exorbitant prices for exceedingly rare digital girlfriends. In the future we hope to deploy a platform where users may redeem WAIF for NFTs and vice-versa.
As of now we have some gorgeous one-of-a-kind pieces ready to share with the community and we will be doing this in small batches. Our first five HAREM NFTs will be introduced next week along with some details on the future of our project and the shape of WAIFU in 2021 as our platform and user base grows. There is a lot more in store for the community and we thank you for your patience and support!
xoxo,
The WAIFU Project
