BadMints utilizes the true ownership and serialized benefits of NFTs and layers in a DeFi yield protocol, allowing users to generate passive yield in the form of an ERC-20 token by simply holding BadMints in their wallet. This yield can be retrieved at any time by the current holder of the token or, if the owner chooses, can remain attached to the NFT indefinitely. Unclaimed yield travels with the token on secondary sales!
This article aims to cover the features that make up BadMints tokens. Future articles will cover the BadMints system as a whole: defining the yield calculations, describing BadBoxes, L2 Pool implementations, and other mechanisms that are, or will, be introduced into the BadMints ecosystem moving forward.
Token Types — BadMints.sol
There are five types of BadMints: Common, Rare, Exotic, Epic, and Legendary. Below describes each type and the following contract-level attributes:
- Primary Sales Price (In Ethereum)
- Maximum Supply
- Yield Multiplier
In addition to Maximum Supply, Yield Multiplier, and Price, each token is set at the contract level to have ranged-sequential IDs. This means that each token type will adhere to the following ID ranges:
- Common: 1,726–5,000
- Rare: 726–1,725
- Exotic: 226–725
- Epic: 26–225
- Legendary: 1–25
Token Yield — BadYield.sol
BadMints generate passive yield, called Base-Yield, automatically. This means if you hold a BadMint in your wallet, you earn yield automatically. No Deposits. No Lockups. Your Keys, Your Mints.
Base-Yield is calculated based on the token multiplier and the amount of Ethereum blocks that have passed since the most recent yield claim. Below is a simple algorithm which is used to calculate Base-Yield:
yield = ( bₙm ) * (n-pm/100)
- bₙ is BADs (of like-type) held time n
- m is BADs type multiplier
- n-pm block delta at n since previous mine pm
The above yield starts accruing the moment a Bad is minted, and remains attached to that Bad until it is claimed. Yield can build up on a single token indefinitely and remain attached through token transfers, potentially reflecting secondary sales prices.
Base-Yield is the first stepping stone into a myriad of BadMints yield mechanisms. After initial launch, we will be releasing different BadBox types, which will provide unique yield benefits across different BadBox types such as lower gas fees on yield claims, pooled yield multipliers, xBad token burns for yield boots, and more. Future articles will go into this further.
Join us in Telegram and follow us on Twitter to stay up to date on BadMints and get notified when we launch!
