More details about Lympo NFTs and new pricing
As you probably know, we’re working to move the entire Lympo NFT platform to Binance Smart Chain. During the past few weeks, we’ve already announced quite a few new Athletes that are joining the Lympo Athlete pool, and our initial plan was to release these new NFTs already on BSC. However, we want our community to use the credits they have gathered and mint new NFTs as soon as possible.
That’s why we’ve decided to release part of the next collection of NFTs on the Ethereum network. Once the tech infrastructure from our partners has been completed, you will have the opportunity to move these NFTs to Binance Smart Chain.
So when can you expect these ERC-20 NFTs to be released? Well, we prefer not to use the word ‘soon’ too often, but in this case, it’s literally right around the corner.
At the same time, it’s also the perfect opportunity to optimize the formulas we’ve used to design the credit staking mechanism. As you probably remember, after we released the Lympo NFT minting platform, we mentioned that we’d be adjusting, optimizing, and tweaking the staking mechanism based on the feedback we’re gathering from community members using the platform. As a reference, here’s the original article. Now it’s time to introduce an update.
Here’s the new minting price mechanism for Common, Uncommon, and Rare NFTs:
And here’s the one for Legendary and Epic NFTs:
As an example:
- The regular price of a Legendary NFT is 220 credits. After the release of the new Legendary NFTs on ERC-20, the price will be adjusted to 220 + 50% more credits + 2 ETH.
- Then, the price will gradually reduce by 0.25 ETH every 6 hours, which means that 1 Legendary NFT after 6 hours from its release will cost 330 credits + 1.75 ETH. The additional ETH will continue to decrease until only the 330 credits remain.
- After 48 hours, the price of one Legendary NFT will be 220 + 50% credits. This price will then remain for 48 hours more, after 96 hours total the price will go back to the regular 220 credits for each Legendary NFT.
This pricing mechanism will avoid an immediate sell-off of all the higher-tier NFTs on the platform, which makes it fairer for everyone involved. Keep in mind that we might adjust this pricing again in the future, based on the platform activity and community feedback. We can’t wait to release the next batch of NFTs!