THE NFC TIERS SYSTEM
Hello, Cyborgs! Time for another exciting article about our NFC platform! Today we are introducing our Loyalty System via the NFC Tier feature. This system will be the core of our Non-Fungible Cyborg (NFC) platform and has been designed to reward our early and most faithful supporters and users. After all, without our strongest members, we wouldn’t be able to achieve all that we have so far. Now, you might be asking, how does this feature work? How does it benefit the Cyborg ecosystem? Or maybe, you’re curious what perks will be available. Let’s dive into the mechanics and answer all of your questions!
Our Loyalty Program will be divided into 6 Tiers ranging from 0 to 5. The Tier you are in will depend on how many $NFC tokens you have locked for a time period of 6 months. Tier 0 is our most basic level for users who have not locked any tokens. In order to increase to the next Tier, you will need to lock tokens. Tier 1 requires 500 $NFC tokens, Tier 2 requires 2,500 $NFC tokens, 10,000 $NFC for Tier 3, 50,000 for Tier 4, and 150,000 $NFC tokens for our top level, Tier 5. As you stake your $NFC tokens to increase your Tier, you will need to keep in mind that the 6 month countdown resets on each new lock-up. To provide an example, let’s say you have 10,000 $NFC deposited for Tier 3 and the next month your countdown is at 5 months, but you deposit 40,000 more $NFC to reach Tier 4 (50,000 total $NFC), the lock-up countdown will reset completely to 6 months again for all your tokens.
This NFC Tier system will be the only way to single stake $NFC to earn $NFC. There won’t be any Manual or Auto $NFC single staking pools on the platform, instead when you’ve staked enough $NFC to get Tier 1 or higher, you’ll automatically receive a SoulBond Token (SBT) in your wallet. The SBT will correspond with the Tier you have and is an NFT linked to your wallet. Since the NFT is linked to your wallet it cannot be transferred to another wallet. There will be 5 staking pools for SBT on the Tier earn page where you can stake your SBT for $NFC tokens. Each time you reach a higher tier with your staked $NFC, you’ll get a new SBT NFT corresponding to the new tier in addition to any you may already have from previous tier levels. For example, if you are Tier 5, then you will have 5 SBTs which can be staked in the 5 different pools. Do note that if you unstake your $NFC tokens after the 6 month lockup, you will lose Tier levels depending on how many tokens you unstake and the SBT NFTs linked to the Tiers you lose will be revoked from your wallet. This means that if you have 50,000 staked $NFC for Tier 4 and unstake 5,000 $NFC tokens this will leave you with 45,000 staked tokens, demote you to Tier 3 and your SBT NFT for Tier 4 will be removed automatically from your wallet.
However, farming with your $NFC tokens isn’t the main interest for the Tiers feature. As we’ve mentioned in previous articles, $NFC is designed similarly to a Layer 1 token like $CRO or $ETH by the way it is used like gas on the NFC platform. Every time an action is performed like staking in farms and pools, harvesting, using NFT Swap, etc…, it will cost you an $NFC fee in addition to the $CRO fee of the Cronos blockchain. All $NFC raised from the $NFC action fee will be burned to assist $NFC’s price action. This is a big part of where the Tiers feature comes into play. Tier 0 users will pay a fee of 5 $NFC tokens per action on the platform. However, Tiers 1 will pay a fee of only 2,5 $NFC tokens per action and for each Tier you level up, your fee is reduced by 0.5 $NFC. Thus, Tier 5 users only pay 0.5 $NFC per action! If you are a regular user of the Non-Fungible Cyborg ecosystem, then being in the top tiers will definitely be beneficial over time.
Additionally, top Tier levels will allow users to be among the first to stake their NFTs in staking pools on the platform. As we’ve mentioned previously, there are a limited number of slots for NFT collection staking pools (the projects can increase these by burning $NFC). Each time we open a new NFT staking pool, only Tier 5 users and WL addresses will be allowed to stake in the first hour. The second hour, Tier 5 and Tier 4 users will be allowed to stake alongside any WL addresses. This will continue on until the sixth hour when everybody will be able to stake in the pools if there are any remaining slots available. Thus, it is very important to have a good Tier if you wish to have higher priority on NFT staking pools.
The staking mechanism will also be used for the NFC Launchpads. When an NFT collection drop starts, instead of Presale followed by Public Sale, there will be separate 1 hour Presales for each Tier starting with Tier 5 and continuing until Tier 0 where anyone can join. Once again, top tiers will be important for those looking for higher priority.
That’s everything about the $NFC Tier system, Cyborgs! Remember, the higher your Tier, the faster you can get into staking pools and NFT mints, save more on fees, and earn more by staking more SBTs! The NFC website will be live extremely soon for you to check out (no features will be usable during the demo period), then we will launch a short time later with full functionality! We are almost there and appreciate the support and patience of our amazing community. See you all again real soon.
