AAG Ventures Genesis NFTs and Staking Rewards
Having successfully completed our IDO, the AAG Ventures team is next focusing on the next step in our journey. We previously announced our staking program, but now it’s time to drill down into the details.
Introducing Genesis NFT
Recently, we had the chance to brainstorm with our valued IDO backers through our Telegram channel. One thing everyone agreed on is that we want to provide something special for our IDO participants. There will be five tiers for these NFTs:
- Common
- Uncommon
- Rare
- Epic
- Legendary
The NFT will be assigned to the wallet used during the IDO, with the rarity of the NFTs based on multiple factors.
- When you bought: Some of our true believers came in much earlier, and we see this as an important factor.
- The amount spent during the IDO: This factor is also very important since it shows the level of participation as part of Proof-of-Participation (PoP).
Some people asked whether they are eligible for these NFT if they bought and sold during the IDO. The answer is yes, as long as they have some AAG tokens in the wallet when they claim.
Holders of the Genesis NFTs will continue to receive many benefits in the future, including receiving multiples on top of the rewards from our staking program.
These NFTs also have rarity factors based on the number of participants across all funding rounds, and can be traded on an NFT exchange.
Single-Sided Staking
Single-sided staking will be available in phase one of the staking program. This is a safer route for many people, since there is no risk of impermanent loss. You will be able to stake AAG tokens without having to pair them with another asset such as Ethereum.
Participating in single-sided staking can be done directly from our website once it’s available.
The number of token rewards you will receive is based on a few factors:
- Amount of $AAG token staked
- How long you choose to lock your $AAG token for
- AAG NFTs in the wallet including Genesis NFT
For the time factor, you will be able to choose a period of up to six months (minimum two weeks) to earn the maximum multiples from the staking rewards. Please note that once the tokens are locked, you will not have access to them until the end of the specified period. Carefully consider before you select. At the end of the specified period, you will continue to earn token rewards and are able to withdraw $AAG tokens.
Uniswap Liquidity Pool (LP) Staking
To incentivize our community members to help provide liquidity for our Uniswap LP, we will also support LP staking. The mechanic is as follow:
- Add $AAG and ETH to our liquidity pool on Uniswap
- Use the LP token received from step one and stake it on our website
The number of token rewards you will receive is based on a few factors:
- Amount added to the LP
- When you add liquidity into the LP
- AAG NFTs in the wallet including Genesis NFT
The second factor will be based on when the LP token was created. We will count this time factor all the way back to the inception of the LP. To receive the most benefits from LP staking, we encourage you to start early.
How Much Can I Earn?
We want to reward our most loyal community members who joined us right from the beginning. This is why we added the time factor into both of our staking programs.
For the first year, we are planning to use 1.5% of the total supply (15m $AAG tokens) for the one-sided staking program, and 4.5% (45m $AAG tokens) for the LP staking program.
You can withdraw earned $AAG 1 week after you earn them. However, you may not want to. The next section will explain why.
HODL-To-Earn: Extra APR on Earned Rewards
What if you can earn extra APR on the $AAG tokens you earned from staking, depending on how long you keep them in the staking pool? For example, if the base rate is 100% APR, on day eight if you were to not withdraw your earned $AAG tokens, the interest rate will increase by Y%. Then on day nine, it increases again by another Y%. That means that the longer you keep your earned $AAG tokens in the pool, the more you will earn.
NFT Stacking Rewards
To further incentivize the usage, as well as create a healthy market for our NFTs, AAG Ventures’ NFTs will enable a stacking effect on the staked capital. For example, if the baseline capital is 100%, and you own an NFT that gives a 21% boost and one that gives a 13% boost, the effective value of your staked capital will become 100% + 21% + 13% = 134%.
The exact numbers are still being calculated to ensure the longevity of the staking program. We will release the exact details in a follow-up article.
We believe this will help generate the demands for our NFTs. This is just one of many more utilities that we plan to implement in the future.
What’s Next?
Keep an eye on the announcement for the start of the staking program. We will let you know as soon as we are ready and fully audited. We understand that many of you are eager to get an exact date. But we also know that giving you more ideas on what will come next is very important. Buckle up for what comes next. It should be an exhilarating ride.
Learn About Our Staking Programs and Earn $AAG
Since our staking programs are much more complex than an average one, we feel it’s a good idea for our community to spend some time understanding how they work.
To incentivize our community to learn more about our staking programs, we will award 10 $AAG tokens each to the first 100 people to correctly answer the questions about the programs. The subsequent 900 people will then receive five $AAG tokens each.
Please click here to submit your answers.
