Introducing ZERO Heroes: The Liquidity-Generating NFTs
Published On: 6/6/2023
zeroDAO is excited to introduce the ZERO Heroes NFT collection – an innovative mechanism for providing liquidity to the network’s native asset, $ZERO.
Let’s delve into how they work, the value of holding, and how you can secure your own ZERO Hero!
The LP Process: How ZERO Heroes Work
The ZERO Hero collection will consist of 3,000 uniquely minted NFTs that will serve as a liquidity provision mechanism to the $ZERO token.
Users will receive a ZERO Hero NFT by contributing $ETH on mint day (price per mint will be announced via socials). zeroDAO will then pair this $ETH with $ZERO tokens to be deposited into liquidity pools.
The Value of Holding Zero Heroes
While they may look like traditional art-based or PFP NFTs, the Heroes are much more than digital collectibles.
ZERO Heroes provide an innovative strategy to enhance liquidity for the $ZERO token, and allow holders to be part of the Diamond Hands game!
ZERO Heroes will incorporate a Diamond Hands NFT game, designed to encourage long-term holding, while benefiting both users and the ZERO Network.
Upon network launch, NFT holders can optionally redeem or burn their tokens for the underlying LP ($ETH and $ZERO) at any time – resulting in a potentially deflationary NFT supply.
However, burning may be sub-optimal, as the redemption process is non-linear and is engineered with an exponential liquidity redemption curve. Simply put, the smart contract is engineered so early redeemers receive fewer LP tokens than those who redeem later – Diamond Hands!
Why is this important?
This process incentivizes users to hold on to their NFTs for a longer duration or swap on secondary markets (as opposed to burning), and will ultimately lead to deeper liquidity for the $ZERO token.
The ZERO Heroes collection will consist of 3,000 uniquely generated 1/1 NFTs. Each hero minter will have a maximum limit of 10 NFTs per address, and all mints will be equally priced to ensure a fair and broad distribution.
The enthusiasm for these tokens has been significant, with +2,000 addresses already whitelisted. To check if you’re eligible for a whitelist mint, visit the zeroDAO website. Next, click ‘Heroes’ on the navigation menu and enter your public Ethereum address in the whitelist lookup modal.
zeroDAO has decided that it's best for the network and its participants to over-allocate the mint. The exact figure will depend on a range of factors, including Ethereum gas prices leading up to the mint and the number of new whitelist applicants.
More information on whitelisting, public sales, NFT pricing, and allocations will be published on zeroDAO's Twitter and Discord in the coming weeks.
The ZERO Heroes NFT collection is a creative solution for generating liquidity for the $ZERO token. The unique "Diamond Hands" game encourages and incentivizes long-term holding by rewarding later redeemers with more LP tokens.
By redefining the value and utility of NFTs and incentivizing holding, ZERO Heroes not only deepen liquidity but also contribute significantly to the sustainability of the ZERO Network.
Stay tuned for further updates on ZERO Heroes NFT drop and zeroDAO's mission to shape a more efficient and interconnected blockchain ecosystem.
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