The art pieces are turned into NFTs (non-fungible tokens) that can then be traded, farmed, and overall capitalized on.
The 🌵 NFTs are your ticket to all the tools that the Network provides / will provide throughout the future, for as long as you hold one. Holders are the Management of Cacti.Network!
There will only be 100 🌵 Network NFTs created for the first OG hand-drawn collection. (50 1/1s & 50 Commons)
The collection will be released on two different blockchains, MultiversX & XRP Ledger; Possibly others such as Hedera Hashgraph or Polygon, if voted for.
The collection Mint price will be about a $50 equivalent in the blockchain's native currency. (50 USD in EGLD or XRP)
Upon each cactus mint, it will begin producing its flowers. Whoever is holding a cactus when it reaches its flowering time will receive an airdrop respectful to the time it took. The cactus will then produce Flowering Time airdrops on that date, annually.
When 🌵 Staking/Farming, your earned APY is based off the collection's average sale price. For example: If the average sale price was $5,000 and remained that same price for the whole year, and you've built up and are generating, let's say 150% APY, then you will have gained at least $7,500 by the end of that year.
You start off earning 100% APY of the collection’s average sale price with your first NFT. The APY can then be further boosted by adding more 🌵 to your collection, or through APY Boosters.
You can own 20, but only a maximum of 10 NFTs can be farmed per account for each blockchain. People with multiple crypto wallets will only be able to apply APY boosts to their one and only, verified account through cacti.network.
Reward distribution is not combined, but unique to each blockchain. (MultiversX collection based off the MultiversX collection's average sale price, and XRP collection based off the XRP Ledger collection's average sale price.)
However, there is a 10% boost for owning cacti from both blockchains, and there is an additional 10% boost for owning the same 1/1 cactus on both blockchains.
Cacti, Merch N' Earn, and Referrals are all permanent APY boosters, whilst 'Cactus Captures' provide temporary, bi-weekly APY boosts. Scavenger Hunts vary.
The APY of the 1/1 🌵 NFTs stack by 20% each after your first cactus. Common Carl Cacti stack by 10% each after your first cactus. So for example, a full farm of ten 1/1 Cacti is 280% APY of the average collection floor price, not including any other additional boosts. A full farm of Carl Commons would be 190% APY.
Rewards are sent out bi-weekly to your wallet. You will receive the MultiversX native currency EGLD, or XRP Ledger native currency XRP.
Our equation goes simply like this:
There are 26 bi-weekly payouts in a year, sometimes 27. So we will use 26.1.
The collection's average sale price (X) divided by 26.1 equals the bi-weekly increment for each payout (Y). Multiply that by your overall accrued APY (Z) and get the amount for each payout.
X/26.1 = Y
Y*Z = Bi-weekly Payout
If/When it became necessary and voted in, we would reduce the rate of the first cactus, and/or do a fair release of Cacti Coin, which would have a supply of one million tokens, again if voted for. A liquidity pool would be provided, and the reward distribution would rollover into Cacti Coin.