Liqwid Aquafarmers NFTs — Mint, Utility and Protocol Owned Liquidity
NFTs are set to become an essential component of DAOs and DeFi powered by Cardano’s advanced NFT infrastructure and the innovative CNFT community. With this we are thrilled to share more details on the upcoming Liqwid Aquafarmers NFT collection mint, explore utility, and propose ideas for how the community might grow the Aquafarmers collective. Ultimately how the Aquafarmers are used in the Liqwid ecosystem will be decided through community governance.
In this article we will share ideas, discuss the whitelist process, and unpack how staking utility in the Liqwid protocol could potentially function. We are working with DripDropz.io and NFT-maker.io to deliver a seamless NFT experience, with a focus on instant utility for the Liqwid DAO Treasury and long term utility for LQ stakers.
The specifics of the Liqwid Aquafarmers NFT collection are as follows:
There will be a one-time drop of 10,000 Liqwid Aquafarmers on Cardano.
All Liqwid DAO Token holders who hold 1 or more LQ, or 1 LQ worth of LQ/ADA LP tokens automatically qualify for the drop.
We are working with DripDropz SPO’s to take a snapshot of the LQ/ADA LP token holders in both MinSwap and Sundaeswap plus all LQ token holders on Thursday April, 28 2022 at 16:00 UTC (12:00 PM EST). This will allow us to include all LQ/ADA LP token holders who may have started 30 day yield farming terms in SundaeSwap the same day we initially announced the Aquafarmers NFT collection. If you have LQ/ADA LP tokens (from MinSwap, Sundaeswap or WingRiders) you are included in the snapshot for whitelisting, you DO NOT need to remove liquidity. All you must do is hold 1 LQ worth of LQ/ADA LP tokens in your wallet at time of snapshot.
1 LQ worth of ADA/LQ LP tokens (taken on 26 April, 3:40 pm UTC):
SundaeSwap: 9,681,679, WingRiders: 9,658,618, Minswap: 9,071,463. These are the amounts of LP tokens users must hold in their wallet to be included in the upcoming snapshot
The exact mint date will be announced shortly after the snapshot is complete.
Each qualifying address will be limited to a maximum of 3 Liqwid Aquafarmer NFTs.
Boosted Staking Rewards
Liqwid DAO’s implementation of the v2 Agora governance module will include functionality to stake Aquafarmers NFTs in the safety pool alongside LQ for increased yields. Depending on the Aquafarmer NFT rarity, holders would access increased staking rewards anywhere between 2% to 5%. Staking rewards will be generated from the 10% of protocol revenue set aside for LQ stakers as part of the net margin.
As a reminder, LQ staking in the Agora safety pool will begin at the same time as v1 mainnet launch. The specifics behind the boosted staking rewards structure for holding these NFTs will be announced in the coming weeks (for now refer to the percentages above).
The cost to mint a Liqwid Aquafarmer NFT is 44 ADA.
The ADA proceeds will be put to use in the Liqwid protocol as payment to our designers and engineers along with rewarding our partners for working with the core team to make this drop possible.
Utility and Protocol Owned Liquidity
After the initial mint all Liqwid Aquafarmers secondary transactions will incur a 5% trading royalty and 100% of these royalties will go to the Liqwid DAO treasury, with funds directly reinvested into the Liqwid ecosystem at the community’s discretion. This will help scale the treasury with another significant revenue stream beginning in the immediate future and signifies the first instance of protocol owned liquidity. With 5% of secondary sales from Liqwid Aquafarmers trades directed back to the community-governed treasury a continuously growing balance sheet will launch with the potential to fund the protocol’s next phase of growth or any other community-driven initiatives voted in through governance.
This community-governed treasury currently has a value of over $106 million.
Stay tuned for an official preview of the Liqwid Aquafarmer NFT collection in the coming weeks.
Beyond the points mentioned in this article the Aquafarmer NFT collection will be made available in well-known Cardano metaverses, the first one being Metadams.io, an ADA-powered play-to-stake metaverse.
To learn more about the Liqwid protocol and get involved with our community: