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The Opulence Community presents Project Ripcord, designed to assist all Opulfi AMM yield farm projects by leveraging long term rewards and enhanced safeguards to benefit their communities while enhancing their token liquidity.
The Concept
The Concept
Each token project that wants to provide liquidity to a Yield Farm AMM pool can do this through Project Ripcord, allowing a simple way to partner with their community to share a liquidity investment.
How It Works
How It Works
NFT Creation
NFT Creation
A unique Project Ripcord NFT is created for each token project involved. The token project provides the following information to create the NFT:
A logo png file with a transparent background.
An image for the background of the NFT or an idea of what is desired so it can be created.
A link for the QR code (e.g., to the farm, trustline, NFT collection, website, social network page).
Project Contribution
Project Contribution
The token project would also provide a 40% portion of the liquidity that will be added (skin in the game).
NFT Sale
NFT Sale
Once created, 20 of these NFTs are issued for each token project involved and sold for 10 XRP each.
If all 20 NFTs for a project sell, another 20 could be created, but all the same requirements would need to be met.
This is an example of what a Project Ripcord NFT could look like.
Use of NFT Proceeds (XRP)
Use of NFT Proceeds (XRP)
50%: One side of the AMM pairing (In most cases XRP).
10%: The other side of the AMM pairing.
40%: Pays for project expenses, buys Opulence, buys OpulArtS stakable NFTs by sweeping the floor. This allows the project to meet requirements for OpulEarn, Society Stake and the Opulence/XRP yield farm for more holder rewards.
Rewards Distribution
Rewards Distribution
Rewards Project Ripcord collects are either:
Distributed to all NFT holders on a quarterly basis
or
Compounded into the farms
Rewards are distributed in all the tokens that the project farms. So if Project Ripcord is involved in 5 different farms, the NFT holders would get rewards in 5 tokens.
If an NFT holder does not have a trustline for a specific token at time of drop, the tokens would be placed in the AMM, sold or burned at the project’s discretion after consulting with that token project.
There is also a possibility for additional NFT or token giveaways from Project Ripcord to NFT holders.
Benefits
Benefits
Locks up liquidity for a project at only 40% of the cost.
Liquidity invested would be locked up for as long as an Opulfi farm available for the token.
Provides a unique rewarding NFT.
NFT is Society stakable for daily rewards.
NFTS earn quarterly rewards from all farms involved with Project Ripcord.
NFT could be used in a competitive way such as a battle between token projects to see who sells the most NFTs for their token. Token projects could even incentivize the NFT sales with bonus NFTs or tokens.
NFT holders can support token liquidity and get rewards even if they aren’t interested in working with AMM and Yield Farming.
It benefits the Opulence NFT marketplace by sweeping the floor of Society Stakable NFTs as well as bringing token community members in to buy the Project Ripcord NFTs.
Interested in Participating?
Interested in Participating?
Take a look at the collection or contact us if you want to get your token project involved.
Contact Us
Contact Us
Have questions or want your project to participate in Project Ripcord? Reach out to us!
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