Mint Crypto Bums Now & Earn NFTonPulse Marketplace Fees!
NFTonPulse, the biggest NFT marketplace on PulseChain, is making waves in the ecosystem with its unique fee distribution model. At the heart of this revolutionary platform lies the HTP token, a cryptocurrency with distinctive features that set it apart from the crowd. Let’s dive into the tokenomics of the HTP token and explore how it enriches the holders and the associated NFT collections of Crypto Bums, BBUMs, PulsePunks, and the Tang Gang community.
NFTonPulse: Transforming NFT Trading on PulseChain
NFTonPulse.io recently emerged on the PulseChain scene, providing a marketplace where users can showcase and trade their Ethereum and PulseChain NFTs with significantly reduced gas fees. The platform gained attention by including every Ethereum NFT that existed at the time of the mainnet snapshot on May 10, 2023. This incorporation allows users to trade popular NFT collections like Crypto Punks, Bored Ape Yacht Club (BAYC), and others on PulseChain, benefiting from a staggering 1600x reduction in gas fees.
The Crypto Bums collection launched by the HTP and NFTonPulse team and Beta Bum NFTs introduce a new dimension to NFT ownership, blending innovative tokenomics with the potential for passive income. The strategic partnership with PulsePunks and Tang Gang is an homage to the spirit of collaboration. The backbone of this ecosystem is the HTP token and its main utility is to be staked and generate fees in WPLS and possibly in other PRC20 tokens.
HTP Token: The Engine of Passive Income
What is HTP token?
HTP is the native token of NFTonPulse.io, designed to be distributed to specific addresses that fulfill certain criteria. What makes HTP stand out is its fixed supply model and the possibility of generating passive income in WPLS and possibly in other tokens for HTP holders. Unlike many tokens, HTP has no allocation to the team, and its main staking feature offers users a share of passive income derived from different sources:
– 2% NFTonPulse marketplace fees
– 5% NFTGenerator minting fees
– 15% Crypto Bums and Beta Bums trading
– 5% PulsePunks trading fees
– possible rewards in other tokens
– donations, promotions, and accidental funds transfers – any funds sent to the HTP staking protocol (only for currency supported by the HTP staking) will automatically be distributed between the stakers as rewards.
Passive income can be generated in different ways, depending on the staking group. HTP has a total supply of little over 10 billion and was launched on January 11, 2024. It was distributed to addresses meeting these criteria:
- 40% allocated to users who participated in the sacrifice phase.
- 5% to Pulse Punks holders (forever staked, unsellable).
- 10% in the form of BETA Bums for marketplace testers (forever staked, unsellable).
- 5% for Tang Gang and the collection/address that generates maximum hype (forever staked, unsellable).
- 40% locked under the Crypto Bums collection (forever staked, unsellable).
While all of the distribution groups have HTP staked permanently, only the 40% supply given to the sacrifice phase participants is liquid and can be traded on the market or staked. This means that at least 60% of the HTP is forever taken off the circulation, which provides scarcity to the token and has a positive effect on price appreciation. The strong tie of HTP to the NFTonPulse ecosystem aligns its value with the platform’s economic activity, which means that its value is not purely speculative, like it’s common for many meme coins and other tokens, but rather depends on the fees generated by the marketplace and the NFTGenerator.io.
This unique distribution strategy ensures that HTP is firmly tied to the NFTonPulse ecosystem, aligning its value with the platform’s economic activity.
The tokenomics was carefully crafted to disincentivize airdroppers from dumping the token on the market. The tokens were distributed as planned, but not in liquid form. The airdrop is automatically staked, and each NFT is backed by the HTP allocation-generating yield. This is an innovative and unique mechanism to reward long-term thinkers and loyal holders.
Beta Bums (BBUM) testers
Beta Bums is the distribution group that was set up for all those who participated in the beta testing of the NFTonPulse marketplace and other products made by the HTP team. This group was assigned 10% of the HTP total supply (1,001,500,456 HTP), and it will be staked by the HTP Team in the name of Beta Bums collection and kept locked until Beta Bums minting is finished. The minting will most probably end around July 8, 2024. Once it’s finished, the distribution contract will be deployed, and each BBUM NFT will hold the same amount of the HTP token. Only then will the accumulated rewards be distributed once per year. The total supply of BBUMs will be known only at the end of the mint. If 2,000 BBUMs are minted, the entire 10% of HTP will be distributed amongst that number of NFTs. If less will be minted, that means that each BBUM will hold more HTP. Similarly to Crypto Bums, BBUMs also accrue marketplace fees, and once they’re claimed, the NFT is burned. The effect is that the supply of BBUMs decreases, raising the value of each remaining BBUM. With each burn, the HTP share of the other NFTs in the pool is recalculated. In other words, each BBUM holds more HTP. Trading Beta Bums is subject to 15% of trading fees, which go to the common pool to be distributed amongst all the HTP stakers.
HTP sacrificers
The distribution group specified as the HTP sacrificers counts 40% of the entire HTP supply. It is an allocation for all the addresses that participated in the sacrifice phase of the project. All the HTP in this group is the only part of the entire supply that is not staked forever and remains liquid. This limited part can be traded on the market or staked for yield. The benefit of being a sacrificer is that there’s no NFT that is burned when fees are claimed, meaning that staked tokens accrue fees forever and can be claimed at any time.
Crypto Bums: Catalyst for HTP Tokenomics
The Genesis of Crypto Bums
Crypto Bums is a collection of 10,000 NFTs launched on PulseChain. What sets Crypto Bums apart is its ingenious game theory and the connection with the HTP token. Each Crypto Bum is entitled to 0.01% of the 40% of the CBUM (4,006,001,824.16 HTP) perpetually staked supply, which makes them the source of continuous passive income for their owners.
Game Theory and Innovation
Crypto Bums are not just static NFTs; they serve as access points for NFTonPulse marketplace fees. The innovative twist lies in their burnable nature – when a user claims fees, the corresponding Crypto Bum is burned, and the HTP tokens are added to a communal fee pool for the benefit of all other holders. This mechanism introduces scarcity as the supply of Crypto Bums decreases with each fee claim and NFT burn, while other Crypto Bums gain more value by accumulating more HTP.
Trading Crypto Bums incurs a 15% royalty fee, further fueling the fee pool and incentivizing users to hold onto their NFTs for prolonged periods.
Tang Gang Contributors
The 5% HTP supply (500,750,228 HTP) was assigned to the Tang Gang contributors. Once the staking contract is deployed, the tokens will be staked by the HTP team in the name of TangGang collection. The special destination address called TangGang Donation Address provided by TangGang collection owners collects fees, and anyone can call the ”getApprovedRewards” function on the HTP staking contract to claim and distribute rewards to all eligible participants. Moreover, NFTonPulse has strategically collaborated with Tang Gang, a potent marketing force on PulseChain, to allocate 200 Crypto Bums to HOA token holders. Whoever held 69,420 HOA when the collection went live was able to claim one of 200 Crypto Bum free mints on a first-come, first-served basis.
PulsePunks collection
As part of the partnership between NFTonPulse and PulsePunks, 5% of the total HTP supply (500,750,228 HTP) is set aside for the PulsePunks owners and staked permanently to generate yield. The staking will be done as soon as the staking contract is deployed, and the claim destination address will be set as the PulsePunks rewards contract. There will be a ”getApprovedRewards” function on the HTP staking contract, which will allow anyone to call it and distribute the accumulated fees for all.
Contrarily to Crypto Bums or BBUMs, PulsePunks don’t get burned when fees are claimed, so people holding them are able to claim fees once per year in perpetuity. This makes them an attractive continuous source of passive income that never expires as long as the marketplace and mint fees are generated.
Conclusion
NFTonPulse stands as a pioneer in the NFT marketplace revolution, establishing a new industry standard for user expectations in NFT platforms. The introduction of Crypto Bums, BBUMs, PulsePunks, and the collaboration with Tang Gang, coupled with the HTP token’s innovative tokenomics, has created a compelling ecosystem where holders and creators alike can reap substantial benefits. As staking contracts and BBUMs gear up for deployment, the NFTonPulse community eagerly anticipates the wealth of opportunities these launches will unlock. Stay tuned for the unfolding of this groundbreaking narrative, where fees accumulate and passive income becomes a tangible reality.
