Yay! Genesis (NFT)

Genesis

Characterized by detailed designs and angel motifs.
Issued as an NFT on the Ethereum under ERC-721; issuing limit of 5,000 tokens
The issuance and distribution of Genesis will be carried out in small quantities, adjusted according to the supply and demand of Pals
Genesis holders can mint Pals by exchanging ETH
Genesis holders will be able to supply Pals to the pool, or they can sell them on the marketplace
If Genesis holders supply Pals to the pool, they will receive a fixed amount of YAY over 30 days, and if they sell their Pals on the marketplace, they will receive an immediate profit on the sales
Genesis holders can also hold their Pals they mint themselves
There will be a fixed cooldown time after minting Pals
There will be no maximum limit for minting Pals with Genesis; as long as the service continues, Genesis holders will always be able to mint Pals.

＜Up to 30 Genesis Tokens＞

We also plan to hold sales of small amounts of Genesis in conjunction with the supply and demand of Pals.
Genesis will have its own page where holders can mint Pals by exchanging ETH. (Pals
will be able to be minted in exchange for YAY and ETH only during the initial period.
Genesis holders will be able to put their Pals in the pool or sell them on the marketplace.
If Genesis holders put their Pals in the pool, they will receive a fixed amount of YAY
over 120 days, and if they sell their Pals on the marketplace, they can receive an
immediate gain on the sales.
Genesis holders will also be able to use their own Pals to contribute to the Yay! community.
Due to a cooldown time of 72 hours after minting a Pal, Genesis holders will be able
to mint at most 10 tokens per month.
There will be no maximum limit for minting Pals with Genesis; as long as the service
continues, Genesis holders will always be able to mint Pals.

Role of Genesis

Genesis holders will play the role of Pal market suppliers in the Yay! ecosystem. They can sell their Pals at a competitive price on the marketplace and earn profits, or they can supply Pals to the pool and get YAY as a reward. The steps for doing so are described below.

Selling on the Marketplace

Genesis can be acquired by participating in airdrop events or by purchasing it with ETH on a secondary marketplace such as OpenSea
Genesis holders mint Pals using ETH
Pals can then be sold on Yay!’s in-app Yay! Marketplace. If the sale price on the Yay! Marketplace is higher than the mint price, the Genesis holder will receive a profit on the Pal sale

Supplying Pals to the Pool

Genesis can be acquired by participating in sale events or by purchasing them with ETH on a secondary marketplace such as OpenSea
Genesis holders mint Pals using ETH
Minted Pals can then be added to the pool
Genesis holders can receive YAY over 30 days in accordance with the rarity of each Pal they add to the pool

Genesis Design

Genesis are designed to be held by people who are very familiar with crypto assets and DeFi, community managers, and key opinion leaders (KOLs) responsible for enhancing Yay! recognition
Genesis will mint Pals and then either be supplied to the pool or sold on the marketplace
There is no limit to the number of Pals that can be minted by Genesis holders; there will be a cooldown period in accordance with each Pal’s rarity (e.g., 24 hours for Common Pals), but Genesis holders will be able to mint an unlimited number of Pals as long as Yay! remains in service
When a Genesis holder supplies Pals to the pool, they can receive YAY rewards over a period of 30 days
Since the selling price of Pals can be set by Genesis holders in the marketplace, they monitor market conditions and decide the rarity of the Pals
If the demand for Pals is strong, arbitrage is feasible, but in the long run we can expect prices to be reasonable in line with market principles. If the selling price is too low, the profit on sales will be low; if the selling price is too high, Yay! users will not make purchases
The more Pals that Genesis holders mint, the more YAY they will receive as a reward
Genesis holders play a role similar to L1 chain validators, and are the most valuable stakeholders in the Yay! ecosystem. They aim to raise the demand for Pals by increasing the number of Yay! users. The more demand there is for Pals, the greater the reward acquired.

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Last updated 4 months ago

Genesis

Characterized by detailed designs and angel motifs.

Issued as an NFT on the Ethereum under ERC-721; issuing limit of 5,000 tokens

The issuance and distribution of Genesis will be carried out in small quantities, adjusted according to the supply and demand of Pals

Genesis holders can mint Pals by exchanging ETH

Genesis holders will be able to supply Pals to the pool, or they can sell them on the marketplace

If Genesis holders supply Pals to the pool, they will receive a fixed amount of YAY over 30 days, and if they sell their Pals on the marketplace, they will receive an immediate profit on the sales

Genesis holders can also hold their Pals they mint themselves

There will be a fixed cooldown time after minting Pals

There will be no maximum limit for minting Pals with Genesis; as long as the service continues, Genesis holders will always be able to mint Pals.

＜Up to 30 Genesis Tokens＞

We also plan to hold sales of small amounts of Genesis in conjunction with the supply and demand of Pals.

Genesis will have its own page where holders can mint Pals by exchanging ETH. (Pals

will be able to be minted in exchange for YAY and ETH only during the initial period.

Genesis holders will be able to put their Pals in the pool or sell them on the marketplace.

If Genesis holders put their Pals in the pool, they will receive a fixed amount of YAY

over 120 days, and if they sell their Pals on the marketplace, they can receive an

immediate gain on the sales.

Genesis holders will also be able to use their own Pals to contribute to the Yay! community.

Due to a cooldown time of 72 hours after minting a Pal, Genesis holders will be able

to mint at most 10 tokens per month.

There will be no maximum limit for minting Pals with Genesis; as long as the service

continues, Genesis holders will always be able to mint Pals.

Role of Genesis

Selling on the Marketplace

Genesis can be acquired by participating in airdrop events or by purchasing it with ETH on a secondary marketplace such as OpenSea

Genesis holders mint Pals using ETH

Pals can then be sold on Yay!’s in-app Yay! Marketplace. If the sale price on the Yay! Marketplace is higher than the mint price, the Genesis holder will receive a profit on the Pal sale

Supplying Pals to the Pool

Genesis can be acquired by participating in sale events or by purchasing them with ETH on a secondary marketplace such as OpenSea

Genesis holders mint Pals using ETH

Minted Pals can then be added to the pool

Genesis holders can receive YAY over 30 days in accordance with the rarity of each Pal they add to the pool

Genesis Design

Genesis are designed to be held by people who are very familiar with crypto assets and DeFi, community managers, and key opinion leaders (KOLs) responsible for enhancing Yay! recognition

Genesis will mint Pals and then either be supplied to the pool or sold on the marketplace

There is no limit to the number of Pals that can be minted by Genesis holders; there will be a cooldown period in accordance with each Pal’s rarity (e.g., 24 hours for Common Pals), but Genesis holders will be able to mint an unlimited number of Pals as long as Yay! remains in service

When a Genesis holder supplies Pals to the pool, they can receive YAY rewards over a period of 30 days

Since the selling price of Pals can be set by Genesis holders in the marketplace, they monitor market conditions and decide the rarity of the Pals

If the demand for Pals is strong, arbitrage is feasible, but in the long run we can expect prices to be reasonable in line with market principles. If the selling price is too low, the profit on sales will be low; if the selling price is too high, Yay! users will not make purchases

The more Pals that Genesis holders mint, the more YAY they will receive as a reward

Genesis holders play a role similar to L1 chain validators, and are the most valuable stakeholders in the Yay! ecosystem. They aim to raise the demand for Pals by increasing the number of Yay! users. The more demand there is for Pals, the greater the reward acquired.