Introduction
The insrt team is pleased to share our updated NFT Utility document. As we progress through our roadmap, we aspire to provide transparent insights for our early community supporters. Below we list some of the benefits of each NFT tier to provide insight into their integral role within our token ecosystem & protocol, as well as to showcase our commitment to those of you supporting our team from the onset.
Utility Highlights
Staking Rewards Boost
Once the INSRT token is live, all users will be able to stake their tokens to earn protocol fees. Token stakers that also own a Dawn of Insrt NFT will activate an additional multiplier for INSRT reward earnings.
Simply put: holders of an NFT with rarity of ‘Uncommon’ or higher will benefit from insrt’s protocol revenue by unlocking enhanced yield on their INSRT token positions.
Early Access
As insrt rolls out new product lines, there will be limited space for participation initially. We’d like our NFT holders to have priority access to each of our new products going forward. In regards to the Shard Vault, we will start by reserving 50% of each vault’s supply for NFT holders to acquire first, tapering down upon subsequent Shard Vault launches.
Since the first Shard Vault features just 100 shards, there will be 50 slots total reserved for NFT holders; those slots are first come first serve. Fret not, as there will be more Shard Vaults that we will continue to launch (including expansion to more bluechip collections 👀). As we expand our products beyond Shards, NFT holders will maintain their early access.
Protocol Fee Reduction
NFT holders will incur less fees across all of insrt’s product lines, based on the tier of their held NFT:
Governance Rights
Every member of the insrt community that is holding a Dawn of Insrt NFT is entitled to Governance Rights due to the tokens that will be airdropped to them.
Additionally, each ‘Legendary‘ Dawn of Insrt NFT is allotted 0.125% control of every future proposal. Each ‘Unique’ Dawn of Insrt NFT is allotted 0.5% control of every future proposal.
This empowers legendary & unique holders with additional control over protocol-wide decisions regarding deployment of new strategies, the use of treasury to bootstrap new/permutations of vaults, where to direct protocol liquidity, etc.
Token Airdrop
Last but certainly not least… Each Dawn of Insrt holder will receive an airdrop of INSRT tokens when the Token Generation Event (TGE) occurs. We’ve seen a lot of protocols introduce a burn system for NFTs in order to claim tokens. We won’t be doing any of that, what’s yours is yours. You can expect the TGE a few months down the line after our products have been live for some time.
In terms of rarities and how it will affect your token allocation, there will be an exponential multiplier in effect based on the rarity of your cards. At this moment in time, we’re happy to disclose the token amount prepared for the airdrop will be greater than 1% but less than 3% of the entire token supply 👀
More to Come
The INSRT token ecosystem is still a work in progress. We’re committed to delivering quality products where our token plays a meaningful role beyond purely being a vehicle for speculation. Additionally, the insrt NFT functions as a secondary utility token within our ecosystem. Holders can expect continuous development and integration that will cement the role of our NFT series as integral to our ecosystem.
insrt illuminates: NFT-Fi Onboarding Series
We're excited to introduce our educational onboarding series: insrt illuminates. Users will plunder treasures & rewards by experimenting with novel protocols and familiarizing themselves with NFT infrastructure. insrt's mission is to simplify access to NFT driven returns. We’re going to accomplish that via our vault products but also by accompanying our users as they master the NFT-Fi space. While launching our first product - Shard Vault - is currently the top priority, we are simultaneously crafting insrt illuminates to ensure it’s a truly engaging and rewarding experience.
Over the coming weeks and months, we'll be partnering with NFT protocols to offer challenges that will equip our users with the knowledge to become alpha hunting strategists that perhaps will build strategies through insrt's platform one day.
Anyone interested in NFT-Fi is welcome to participate, and we especially encourage insrt NFT holders to tackle the challenges. Rewards will vary; we have various NFTs that we're looking forward to distributing throughout the series as well as potential bounties offered by our protocol partners.
Next Steps
Keep an eye out for additional details about our onboarding series over the coming weeks and expect for the official start of our learn-to-earn journey to be after the Shard Vault launch in November.
Speaking of the Shard Vault.. we’re happy to share that Punk #9620 has been acquired by insrt, for use within our first Shard Vault. 9620 will serve as the foundation for the Shard Punk PFPs that we are crafting for vault participants. The PFPs are being created in collaboration with a prominent CryptoTwitter artist.
We’d like to express our deeply felt gratitude for the support and belief our community has shown us at such an early stage. We’re fully committed to creating useful, engaging, & lucrative products for our members. We’ve committed blood, sweat and tears to our work, to provide you with useful, engaging and lucrative products. We have a lot slated on our roadmap already, with plenty more to come, so its time to get back to building. Thank you.
- Team insrt
Twitter: https://twitter.com/insrtfinance
Discord: https://discord.gg/insrt
Website: https://insrt.finance
