How well do you know your Pioneer NFTs? Each PNFT has a unique serial number and corresponding unlock mechanism. There is a lot more to Iskra’s utility NFT.
Pioneer NFTs give the holder the right to operate a network node for the Iskra ecosystem. This provides distributed computing power and security for the network.
In return, the holder/operator is eligible to receive some of the highest rewards as a pioneer as we build out our ecosystem. 40% (400 million) of all ISK tokens to be minted will be distributed as rewards to Pioneer NFT stakers/node operators, and will receive 60,000 Contribution Points (CP). This is the only activity that guarantees the highest CPs at once! These CPs help you achieve higher ranking in the Iskra community system. The higher your rank, the more valuable your rewards in terms of the share of the community rewards pool, game asset airdrops such as NFTs, and other benefits.
Only 40,000 Pioneer NFTs will be created, each with a serial number according to when it was minted. The number starts from #1 to #40,000.
- KLAY used to purchase the #1st ~ #10,000th PNFTs will be used to fund the development and operation of the Iskra platform
- ISK used to purchase the #10,001st ~ 30,000th PNFTs will be permanently staked for Iskra’s governance on the ecosystem
- All PNFTs are non-tradable until #30,000th PNFT is sold. Upon the purchase of #30,000th PNFT, then all PNFTs are available for trading on the secondary market.
- #1st to #4,000th PNFTs have already been sold to investors and our partners at a fixed price at $6,000 each during private sales
- #4,001st to #10,000th allocated for Public Sale Round 1(Limited)
- PNFT price starts at $6,000, the same price as the private sale price, and increases by $20 for every 10 NFTs sold. (#10,000th PNFT will cost $18,000)
- Purchase will be available only with KLAY during this limited release. Selling price is determined based on USD.
- #10,001st to #30,000th allocated for Public Sale Round 2
- These PNFTs can only be purchased with ISK tokens
- As these PNFTs are only purchasable with ISK, people will buy ISK in the market and use them to buy PNFTs.
- The ISK proceeds used to purchase the PNFTs go to the Iskra platform, but Iskra will NOT sell the ISK but permanently stake it.
- The total liquidity of ISK in the market is going to be reduced through the Pioneer NFT sale, positively impacting the sustainable growth of the ISK and Iskra ecosystem.
- When the 30,000thNFT is sold, all previously sold NFTs from #1st to #30,000th will become available for trade on the secondary market. (#30,000th PNFT will cost $57,980)
- #30,001st to #33,000th allocated for Iskra team
- 3,000 of PNFTs will be granted to the Iskra team account as an incentive for long-term operations.
- 100 PNFTs will be granted to the Iskra team account for every 1,000 NFTs sold, aligning with Pioneer NFT sales performance. Team grant volume does not affect the order of sales.
- 3,000 of PNFTs will be granted to the Iskra team account as an incentive for long-term operations.
- #33,001st ~ #40,000th allocated for Business reserve
- The Business reserve will be used for additional primary market sale, marketing, late investors, game studios companies, and stable operations of sidechains.
- When the reserve is used for the additional primary market sale, the price of PNFT starts at $80,000 worth of ISK.
- Starts at $80,000 worth of ISK, the required quantity of ISK increases for every 10 units sold.
- Operated with a secondary market (where P2P trade of PNFT is allowed).
- When the price of the primary market’s PNFTs are cheaper than those at the lowest price in the secondary market, buyers will have incentives to buy directly in the primary market and Iskra can absorb additional ISK from the market.
- All ISK proceeds from the PNFT sale will be permanently staked by Iskra and never sold to the market.
Pioneer NFT Rewards Unlock Mechanism
Since Pioneer NFTs grant an overwhelming ISK Token rewards of 40% of the total volume, releasing them in bulk to the market will pose an adverse effect to the Iskra ecosystem. Therefore, ISK Tokens distributed as Pioneer NFT rewards are given out in locked form and released in stages to the market according to the Unlock Mechanism.
A certain number of additional PNFTs must be sold after your purchase of a PNFT in order for rewards to be unlocked. This is calculated using a ‘Linear Reduction Model Formula’ below.
All purchased Pioneer NFTs are given a serial number in the order that they were purchased. So for example #1, #2, #3, etc. This means that a certain serial number must be sold in order for your rewards to be unlocked. The number of NFTs that need to be sold for an ‘unlock’ decreases as the number of PNFTs are sold.
- “Linear Reduction Model” formula
- id <= 29999*(last_id-5001)/24999 + 1
- Applying this formula, the ISK rewards received for your PNFT will be unlocked as below:
- The ISK reward for #1 PNFT will become unlocked when #5001 PNFT is sold (+5000)
- The ISK reward for #4000 PNFT will become unlocked when #8334 PNFT is sold (+4334)
- The ISK reward for #10,000 PNFT will become unlocked when #13334 PNFT is sold (+3334)
- The ISK reward for #15,000 PNFT will become unlocked when #17501 PNFT is sold (+2501)
- The ISK reward for #20,000 PNFT will become unlocked when #21667 PNFT is sold (+1667)
- The ISK reward for #25,000 PNFT will become unlocked when #25834 PNFT is sold (+834)
In a Nutshell
There is certainly more to a Pioneer NFT besides utility, node operation and rewards. Each PNFT has its own provenance that identifies how it interacts within the overall Iskra ecosystem, and its importance cannot be overstated.
Here’s to you, early Pioneers! And, for those who are yet to join us, welcome to the show!
If You’re Ready to Become a Pioneer click here: https://www.iskra.world/PioneerNFT
To learn more about the Iskra Ecosystem check out our news page here for our blogs, videos and more: https://news.iskra.world