Yay! Origin (NFT)
Origin
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 Origin will be carried out in small quantities, adjusted according to the supply and demand of Pals
Origin holders can mint Pals by exchanging ETH
Origin holders will be able to supply Pals to the pool, or they can sell them on the marketplace
If Origin 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
Origin 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 Origin; as long as the service continues, Origin holders will always be able to mint Pals.
＜Up to 30 Origin Tokens＞
We also plan to hold sales of small amounts of Origin in conjunction with the supply and demand of Pals.
Origin 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.
Origin holders will be able to put their Pals in the pool or sell them on the marketplace.
If Origin 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.
Origin 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, Origin holders will be able
to mint at most 10 tokens per month.
There will be no maximum limit for minting Pals with Origin; as long as the service
continues, Origin holders will always be able to mint Pals.
Role of Origin
Origin 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
Origin can be acquired by participating in airdrop events or by purchasing it with ETH on a secondary marketplace such as OpenSea
Origin 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 Origin holder will receive a profit on the Pal sale
Supplying Pals to the Pool
Origin can be acquired by participating in sale events or by purchasing them with ETH on a secondary marketplace such as OpenSea
Origin holders mint Pals using ETH
Minted Pals can then be added to the pool
Origin holders can receive YAY over 30 days in accordance with the rarity of each Pal they add to the pool
Origin Design
Origin 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
Origin 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 Origin holders; there will be a cooldown period in accordance with each Pal’s rarity (e.g., 24 hours for Common Pals), but Origin holders will be able to mint an unlimited number of Pals as long as Yay! remains in service
When a Origin 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 Origin 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 Origin holders mint, the more YAY they will receive as a reward
Origin 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.
Last updated