Rebase tokens have already been around for well over a year now through projects like Olympus Dao. Later, Wonderland and Titano arrived on the scene to create the next new wave of hype. A lot of this happened during the last bull market however.
Things are a little different now and investors are running for the hills. But what if there was a token which was married to an NFT which offers token insurance with a risk premium to go on top of capital invested?
It has been clearly proven that there is an actual demand for this new type of investing.
There have been many success stories of people who made life changing profits mainly via early participation, but also there are many stories of those who got rekt due to the timing of their entry. It’s no secret that the earliest investors in any type of project are positioned to make the most gains. It would be wrong to assume otherwise.
As participants of Olympus, Wonderland, Titano & Safuu ourselves from each of their early stages, we are excited and drawn to the fact that there was the offer of a token-buy back and burn. It’s nothing new however as publicly traded companies buy back their own shares using their own treasury funds to support a falling share-price from time-to-time, mainly to appease investors.
But the concept is definitely nothing new, but it was new to crypto at the time. Furthermore, the offer of 500–1000x gains were simply too tempting to resist, we decided to take a punt anyway. This was all before GuilderFi even existed. Only with the exception of Safuu, which was the last protocol which we participated in before deciding to build our own rebase protocol.
When the very offer to buy-back and burn their own tokens was not occurring, it became a major concern. The worse of them being, when we noticed in shock horror that the backed liquidity price on the Safuu dashboard was actually static and was displaying 100% despite the simple calculation to work this figure out was resulting in a much much lower figure than what was displayed.
Being unable to get any straight answers from the devs on any of these projects except for Titano, we decided it was time to pull the plug. This is despite the vast amount of treasury reserves each of these projects had accumulated for these very causes.
The promise to maintain the token’s price at the 100% fully backed level could have been implemented with medium difficulty however they didn’t so this was #1 on our list to redefine.
The idea of having access to such funds and not following through with the very promise which drew investors in the first place and leaving it centralized for anyone to access, multisig or not, also could have been decentralized however no project has, so this was #2 on our list to redefine.
Lastly, the fact that so many investors were getting rekt, even early participants who should have clearly been in the money, it motivated us to implement a strategy to offer insurance to investors for the very first time via the use of NFTs, since they are immutable and cannot be compromised. But it will only ever be available to a fixed number of investors at any given time. So its demand will become relatively scarce as awareness of the $N1 token spreads.
As such, the $N1 token price will not be focussed on price appreciation, but rather focus on making bank via the APY. Therefore, once the backed liquidity level reaches 100%, it will activate the Liquidity Relief Mechanism which will actively buy back and burn tokens to maintain this level with every transaction that takes place. Rather than waiting for the dev to do something.
As we’ll be launching soon, we want to reward the first 50 users to complete 3 simple tasks, an opportunity to partake in the Rebase Rebirth Token Sale Event. Each task varies in points rewarded.
Take advantage of a slightly cheaper token price, but more importantly, become the recipient of a #SafeExit NFT. We basically take on the risk to ensure any NFT holders who purchase $N1 tokens will walk away with 6.25% in addition to their principal capital, making it the worse outcome possible. This is the risk premium reward for giving us your early support.
Competition will end on the 3rd of June. Project will launch on AVAX in mid June. Enter below 👇
Reddit Giveaway: #SafeExit NFTs are fully decentralized insurance policies for token holders 💪 Automated Token…
Auto-Staking and Rebasing are here to stay for a little while longer. Join the guild today to learn more. 💪
Good luck and see you on the other side!