The Skeptic Vault
First Skeptic NFTs can be considered “tokenized” in that they are interchangeable with Skeptic Tokens at a conversion rate of 200,000 SKP per NFT. https://app.defiskeptic.com
Converting between Tokens and NFTs has no tax.
Note, converting from NFT to Tokens, your rewards will be auto-claimed, not lost.
Converting from Token to NFT
In order to convert SKP to NFT, the user must click "Swap SKP -> NFT". This is a single swap event that takes 200,000 SKP and swaps it for 1 NFT. When this happens, the SKP is deleted from supply, thus reducing the circulating supply.
Converting from NFT to Token
In order to convert NFT to SKP, the user must click "Swap NFT -> SKP". This is a single swap event that takes 1 NFT and locks it in the vault for someone else to claim. In return the vault mints you 200,000 SKP, thus increasing the circulating supply.
Benefits of This System
NFTs in the vault will not receive rewards, so the less NFTs that are owned, the more rewards each NFT holder gets. It is very unlikely all NFTs will ever be owned, because as more NFTs are claimed/owned, the more SKP’s supply will reduce. This would ultimately cause some NFT holders to give up their NFT and mint tokens. This in turn creates a competitive aspect between Tokens and NFTs and makes it so that the performance of one increases the performance of the other.
Welcome to sustainability!
Last modified 7mo ago