Scope: Rewards for those who sacrificed yield for NFT community building.
$bBadger and $bBadgerwbtc holders sacrificed rewards to participate in Badger-themed MEME NFT community building event.
It is still ongoing. At present, the following is staked on the NFT farms,
0.000384354729052644 bUNI-V2 (over $50,000 value)
41,819 bBadger (over $500,000 value)
Badger stated that NFT holders will get APY boosts (https://twitter.com/BadgerDAO/status/1338135475379449857)
This BIP proposes a reward framework for NFT holders.
There are 6 $MEME Badger-themed NFTs.
They can be farmed here:
https://dontbuymeme.com/collections/badger_lp (SOLD OUT)
Or acquired on the secondary market, including total amount and number remaining at time of post:
The secondary market has been active, including a 21,000 USDC purchase of the Satoshi card. Badger NFTs account for 3 of the top 6 MEME NFTs by marketcap (https://niftyrank.com/). The community building has been strong.
My proposal is that for each unique NFT held, the account holder gets a 5% boost on rewards. This 5% should not compound, but be additive. I propose these boosts are implemented in the Week 4 emissions (December 24th) and continue throughout the 10-week Liquidity Mining schedule, for both $badger and $digg.
Rewards Received per unique NFT held:
- 1 NFT - 105% Rewards
- 2 NFT - 110% Rewards
- 3 NFT - 115% Rewards
- 4 NFT - 120% Rewards
- 5 NFT - 125% Rewards
- 6 NFT - 130% Rewards
I initially set this at 10% per NFT, but changed it down to 5% so that numbers do not skew too wildly. Many NFTs still remain available to give everyone a fair chance to mint an NFT to earn an APY boost. The more rare NFTs are available on the secondary market if any users want to maximize their APY boosts.
Subject to approval there is work that would need to be done to bring this to reality. As for technical implementation, it is not my area of expertise, so I would wait for the team to comment on the difficulty of this change.
All voting will end by Noon EST December 22nd to give the operations team enough time to implement for week 4.