What is $PIXEL, and why should you stake for it? 💰
Hololooters, no more teasing — it’s time to get into Holopixels ($PIXEL), our internal rewards token. We’ll also outline the idea for our NFT launchpad where we’ll host Initial NFT Offerings (INOs), explore the key role $PIXEL will play in this system.
If you’re already staking $HOL for $PIXEL, considering it or just interested in NFTs, make sure you read to the end. We think we’re doing something special that benefits all of our supporters and creates an exciting new NFT economy, all while ensuring the stability of our core token $HOL.
- Holopixel ($PIXEL) is our internal rewards currency.
- $PIXEL contract address: 0xDFa13C2b66B1Ac54E5daFa1334dFA2A0EE8BddA7
- Holopixel has an uncapped supply.
- $PIXEL is farmed by staking $HOL tokens.
- The emission rate can change if the tokenomic situation demands it.
- There is no $PIXEL liquidity on any exchange — the only way to get $PIXEL is to stake for it, and it can’t be swapped for other tokens.
- $PIXEL is the payment method for tickets on our upcoming AR NFT launchpad.
- The Hololoot NFT launchpad will specialize in exclusive collections with both AR functionality as well as valuable utility through whichever partner launches the NFT.
- The launchpad works on a lottery format. If you hold a winning ticket, you’re whitelisted to buy an NFT at release. There will also be more expensive tiers that guarantee a whitelist spot.
- This is just the first use for $PIXEL — it’ll also play a role in other Hololoot products, including our AR metaverse ✨
The what and why of Holopixel 🤔
Holopixel is Hololoot’s internal rewards token. It’s a secondary currency that you’ll first be able to use on our upcoming AR NFT launchpad, effectively giving all our holders the chance to participate in the exciting world of AR NFTs.
We chose to pursue a dual-token model for several reasons. First, this model helps us reduce sell pressure on our main token, $HOL. Because $PIXEL can only be farmed by staking $HOL, users are encouraged to not only lock up their $HOL tokens, but to actively increase the size of their stake to farm $PIXEL quicker. It’s a token accrual strategy that we’re excited to explore, and the success of our initial stake pools indicates that our holders are keen to dive in as well.
Second, $PIXEL encourages ongoing participation in Hololoot’s ecosystem. Unlike many other crypto tokens that have their price action determined by disinterested speculative investors, Holopixel staking and the NFT drops available encourage even the most hands-off VC to pay closer attention to our ecosystem. This kind of engagement again reduces sell pressure by rewarding holders over sellers even if the $HOL price increases. This way smaller investors also have a chance to participate in lotteries without risking their investments every time they’d like to participate.
Finally, a separate token linked to launchpad tiers means that we can adjust launchpad conditions dynamically as the price of $HOL changes. As the $HOL price fluctuates, ticket and NFT prices can be adjusted accordingly to ensure fair pricing for both potential investors and the projects looking to get their NFTs into the hands of users. Because we’re able to adjust the emission rate of $PIXEL in the staking farm, we can also ensure the strength of our marketplace regardless of where the $HOL token goes.
Because of these reasons, a dual-token model made the most sense to us. We can ensure $HOL stability while rewarding even the smallest holders, making Hololoot the perfect long-term play for anyone curious about the future of NFTs and AR technology.
Holopixelnomics — how much there is and how to get it ✨
No fancy allocation tables, no presale, no vesting terms to keep track of. $PIXEL has no max supply and can only be farmed by staking $HOL.
📚 $PIXEL contract address: 0xDFa13C2b66B1Ac54E5daFa1334dFA2A0EE8BddA7
The Holopixel farm has fixed daily emission ratio that we can change. When the farm launched, the emition ratio was set to 1:1 — that means that for every 1 $HOL you stake, you earn 1 $PIXEL every single day. For example, if you stake 100 $HOL, you’ll earn 100 $PIXEL every day, which means that in 10 days you’ll have 1000 $PIXEL, in 100 days 10,000 $PIXEL, etc.
We set this ratio to help reward early stakers, but the 1:1 ratio isn’t forever. We’ll reduce the ratio before the Iaunchpad goes live, so if you want to get the most $PIXEL for your $HOL make sure you start staking as early as possible.
The best way to get more $PIXEL is to stake more $HOL. For instance, at an emission ratio of 1:1, someone who stakes 100 $HOL will earn 1,000 $PIXEL in 10 days. Someone who stakes 1,000 $HOL would instead earn the same amount of $PIXEL in just one day. Because there is no limit on the amount of $HOL you can stake, you can continue adding $HOL to your staked amount over time.
$PIXEL can also be claimed at any time to your wallet, and unstaking $HOL causes any any unclaimed $PIXEL to also be sent to your wallet.
There are no plans to add any $PIXEL liquidity to exchanges. We’re building an economy for $PIXEL that you’re going to want to participate it, which means we’re attracting people to buy and stake $HOL. If you could simply buy and sell $PIXEL there would be less incentives in place maximizing the number of holders staking their $HOL tokens.
⚠️ Do not attempt to buy or sell $PIXEL on any exchange. You’ll either get hit with insane slippage, or outright scammed.
The launchpad and INOs
Initial NFT Offerings (INOs) are just like IDOs, but with NFTs instead of fungible crypto tokens. With our incredible network of partners, including Efinity which is deploying as the first NFT protocol on Polkadot, we’re building the greatest NFT launchpad in all of crypto.
The INO launchpad will be one of our first product offerings, slated for release in March 2022. We’ll release another article shortly explaining the specifics of it, but for now we’ll just outline the role $PIXEL has to play in this ecosystem.
As mentioned previously, $PIXEL can be exchanged for INO whitelist lottery tickets. There will be a tier system, with higher tiered tickets giving their holder a shot at the whitelist for rarer and more valuable NFTs.
🔥 To participate in the lottery, users lock up an amount of $PIXEL related to the tier they’re entering. A Bronze tier ticket, for example, might cost 1000 $PIXEL, where as a Gold tier ticket might cost 10,000 $PIXEL.
🔥 If you win, your $PIXEL is burned and you’re added to the INO whitelist. You’ll then be able to purchase the NFT using $HOL or other approved crypto tokens.
🔥 If your ticket isn’t one of the lucky ones, don’t stress — the $PIXEL you contributed for the ticket will be returned.
🔥 There will be a certain number of guaranteed whitelist tickets available. These tickets guarantee the holder a place in the INO. There will be a limited number available for every launch, and will cost more than a standard lottery ticket.
Please note that the ticket prices suggested here are for example only. The actual prices will be determined by several factors including market conditions and the perceived value of the NFT drop.
We believe this system strikes the perfect balance between rewarding long-term holders and encouraging new users to join the Hololoot INO launchpad. As we mentioned earlier, another article going into the specifics of this system will be launched shortly, but if you’re interested at all make sure you’re farming $PIXEL today.
Double the token, double the utility ✨
Holopixel utility doesn’t just end with the launchpad — were working on ways to incorporate the token into future products, including the Hololoot AR metaverse. The role $PIXEL will play in these contexts is a topic for another day, but just know that we’re working to ensure $PIXEL has just as much utility as $HOL 🔥
We’ve been flat out behind the scenes getting everything ready for not only our AR app launch, but also the deployment of the INO launchpad and marketplace. Many of these products are launching in March, so make sure you keep an eye on all our social channels if you haven’t already.