Pulsedoge continues to build features around the native token to enhance the echosystem.
The Pulsedoge NFT project is unique in the way it distributes NFTs and how it enhances the tokenomics of the Pulsedoge token. It’s designed to work hand-in-hand with EchoStaking (which locks up supply)
What we ended up creating… is a massively supply-burning mechanism in the shape of an NFT play:
Once we launch on Pulsechain there will be a minting phase of 1,476 unique NFTs that will be distributed 4 each day, for 369 days.
The NFTs will be distributed in a lottery fashion where users can win them by offering their “lottery tickets”, which are tokens, called xPulsedoge.
The way you get your hands on these xPulsedoge tokens is by burning regular Pulsedoge
Any Pulsedoge tokens that are sent to the burn address (0xDead) or converted directly through our new UI (will be at: nft.pulsedoge.win) will mint you xPulsedoge tokens at a 1:1 ratio.
Example: If you burn 1,000 Pulsedoge, you will mint 1,000 xPulsedoge
The daily competition for NFTs
So in each 24-hour period, there will be 4 NFTs minted and claimable by lucky participants that day.
It’s a game of chance!
The more xPulsedoge (% share) you have contributed, the bigger the chance you will win one of the four NFTs minted that day.
The daily pool is open publically for anyone who owns xPulsedoge tokens to participate in.
With this system there is no way to directly purchase Pulsedoge NFTs without benefiting all holders of Pulsedoge. To get NFTs, you have to either own Pulsedoge and burn it, or you have to buy it and burn it, to get your xPulsedoge lottery tokens.
The challenge + the solution
Designing this game theory we identified a “timezone-and-timing” problem: People in the right timezone or with enough time on their hands would benefit by waiting until the very, very last minute to contribute xPulsedoge in the daily pool.
Because it is similar to poker:
The later you play your hand, the better off you are. If you can see what your competitors do before you need to make a move, the easier it gets for you to make a decision.
Due to intelligence, we have solved this with a time bonus:
The first 6 hours you’ll get +25% bonus to your xPulsedoge committed, 1/4 NFTs are revealed
The next 6 hours you’ll get +10% bonus to your xPulsedoge committed, 2/4 NFTs are revealed
The next 6 hours you’ll get +5% bonus to your xPulsedoge committed, 3/4 NFTs are revealed
The final 6 hours you’ll get no bonus, and 4/4 NFTs are revealed
So as you can see, the earlier you enter each day, the larger your bonus, but the less info you know about your competition. And you can’t see the NFTs that are going to be distributed that day.
The later you enter the less bonus you’ll have, but you get to see the NFTs to be distributed as well as more info on your competition’s xPulsedoge that day
You enter in the first 6 hours with 1,000 xPulsedoge tokens, the smart contract will read your tickets as 1,250 (because of the +25% time bonus)
With this NFT distribution system, we have accomplished something really cool:
You cannot get an NFT without benefiting all Pulsedoge holders. The more popular the NFTs become, the more Pulsedoge will be burnt forever.
It’s a true bernemental 🔥
Here’s the TLDR:
- Get NFTs by burning Pulsedoge tokens
- Each Pulsedoge burned, you can get one xPulsedoge token (a lottery ticket)
- The NFTs are madly cool
- Every day this burning competition goes on, for 369 days, until all 1,476 NFTs are distributed
The NFT play is designed to work alongside with EchoStaking to enhance the Pulsedoge system:
🤝🏿 EchoStaking locks up Pulsedoge supply,
🤝🏿 The NFT system reduces the Pulsedoge supply
Reminder: No more Pulsedoge tokens can ever be minted