Warp Finance is pleased to announce that it is expanding the utility of its existing non-fungible tokens (NFTs). This new functionality enabling users to earn long-term benefits from their Warp Protocol NFT holdings.
The new NFT utility is to boost its holder’s position on the Warp Finance personal rewards curve and baseline rewards, resulting in increased $WARP rewards.
Due to the team competition not continuing, and our resulting cautious approach, we have redesigned the use case of NFTs, which will be available to users on February 8th at 18:00 UTC.
The Warp Finance rewards system is designed to reward users for supplying stablecoins to the platform, and taking out stablecoin loans, which are Warp’s primary function.
Under our rearchitected use case of the NFTs, we will provide users both a baseline rewards and personal rewards curve boost throughout the lifetime of Warp Rewards.
This means that NFTs will now offer a longer-term benefit for those holding them.
Previous NFT benefits for boosts will still hold.
Hence, the NFTs will serve as a TVL booster for baseline rewards in the following manner.
- The Rare NFT will offer a 15% rewards boost
- The Epic NFT will offer a 75% rewards boost
- The Legendary NFT will offer a 150% rewards boost
The Social NFT will still be eligible for the 0.25% token supply airdrop. This will be available on TGE.
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