Drex's announcement
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NEMESIS NETWORK LOYALTY POINT / PROFIT-SHARING SYSTEM
🚀 After the successful releases of Wings Multiplier and Wings Rush, The Loyalty Point (NMS LP) Staking is now around the corner. Early birds who will be benefiting the most from the profit-sharing have already started to increase their LP tokens by participating in Wings Rush, and the Global Achievement to unlock LP Staking Pool / Profit-Sharing System is almost at 50%. Once again, we would like to thank our big family for all the engagement and participation.
☃️ So, this is a great time to explain the details of what LP Staking / Profit Sharing is, how it will work, and how you can benefit from it.
💡 We carefully studied similar profit-sharing systems and analyzed their pros/cons to enhance our system’s long-term sustainability and simultaneously avoid the problems they faced over the years. The biggest problem we identified on those platforms was the distribution of 100% of daily revenue in full amounts every 24-hour interval. This approach created a massive disadvantage for newcomers who are new to the LP farming/minting process because while early birds were getting all of the previous protocol earnings, they also kept claiming the future daily pool rewards, resulting in a huge gap between old miners and new miners.
Also, on days when the participation is high, LP miners receive higher returns; however, on days when the participation is low, their returns decrease dramatically. This also caused new players to not participate in mining new LP tokens as the rewards were not tempting, and their shares were forced to remain low compared to older LP miners, which made them feel left out and think they could not compete with older players to increase their shares to the desired level.
That is why we came up with the brand new idea of a profit-sharing system where all the problems are fixed, a system that will both provide an advantage for early LP miners and still be very attractive and fair for the new miners.
👀 How? Let’s see!
1️⃣ Dripping Reward Pool - First, instead of distributing all holdings in the LP Reward Pool in 24-hour intervals, which is very volatile and unsustainable, the LP Staking Pool will distribute 2% of its total reward holdings every 24 hours. This is crucial. Else the differences between high-profit days and low-profit days discourage miner to keep minting new LP Tokens. Also, new players will not be left out as the total reward amount will not diminish quickly and will continue to provide much more stable returns to the LP stakers in the long run. Moreover, the total pool rewards will continue to increase constantly because it will be much easier for new miners to compete with the old ones, and the old stakers will also need to continue participating in sustaining their share ratio.
2️⃣ LP Power Decay – To be fair to the new players and to further incentivize continuous LP minting, we implemented a daily 1% decay on LP Staking Powers. In this way, early players will still get the most benefit as they will have an edge and higher shares from the start but a diminishing one. However, the real winners will be the ones who will be actively participating in the minting process as they will be the backbone of the profit-sharing system and will keep growing the reward pool continuously and boosting overall returns. This will trigger an ever-growing Reward Pool and a long-term healthy & stable circulation of LPs and evenly distributed profits.
So the shares of the early players, who just stop playing, will diminish gradually over time, whereas active players will be able to keep their share ratio or increase them by actively participating.
Kindly note that LP decay will only affect when the NMS LP Tokens are staked in the Profit-Sharing pool; therefore, they won’t decay in your wallet.
✅ As we are still in the soft marketing phase, we are focusing more on the development and content creation side to prepare for the big moves ahead. Right now, only ~18% of the total supply is held by holders, and the remaining ~82% is either locked in Wings Swap, Wings Multiplier, Liquidity, or Burned. Therefore, this could be one of the greatest time periods to get your $WINGS Tokens and mint Loyalty Points where the conditions are ideal to benefit most from the upcoming profit-sharing feature as an early staker.
🤑 Wings Rush was the first game to acquire your NMS LP tokens, and the gears finally started to move. Upcoming games will provide further revenues to the profit-sharing system while burning even more $HELENA in the process, and increasing daily transactions, which will also provide more tax income for the protocol and its features.
ℹ️ LP Token Info:
Token Name: Nemesis Network Loyalty Point
Token Symbol: NMSLP
Decimals: 5
Contract Address: 0x2CBceE506304b579149749758BBF877B4b40E6d2
👊 Thank you everyone for your continuing interest, engagement, and support. We will keep delivering what we promise to our community no matter what fudders say, so stay tuned more 💪 👊
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