Crypto Cannabinoid
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Welcome to Crypto Cannabinoid!
We are a small team of creatives and engineers, bound together by a shared passion for all things cannabis. Our hope is that you will find our unique combination of 100% original non-fungible token ("NFT") designs and Decentralized Finance ("DeFi") innovations to be exactly what you have been searching for all your life. If that's not the case, well, at least you can join us on this incredible journey into the world of NFTs and DeFi.
4 of the 5 Genesis Series Designs
Why are you guys doing this?
Rumor has it that NFTs are the next big thing. We agree, but not for the reasons most peeps are being drawn to them. When we look out across the tons of existing NFTs, we see a true lack of quality and innovation. Not to be total haters, but we collectively feel that the bar could and should be raised.... substantially. We're looking to do just that by coming at it from the following angles:
- Quality: our NFTs will feature 100% original content, showcasing our team's own creative designs, artwork, and photography. For our initial two series we will be using moving images of different strains taken by a member of the team in a custom rigged platform, with locally-sourced legal cannabis. We'll be augmenting the images with animations and artwork, with the end result being a high-quality mkv file. No animated GIFs or low-res jpegs here, brothers and sisters!
- DeFi: this the cutting edge stuff that will separate Crypto Cannabinoid from the pack. If you're new to DeFi, we're going to help you along the way. If you're a grizzled yield-farming early DeFi adopter, we have some serious surprises in store for you (how does NFT staking for fungible token rewards sound?). Whether you decide to participate or not in the DeFi aspect of the project is totally up to you; the point is that we're working hard to provide additional utility for your Crypto Cannabinoid NFTs, and the benefits are being baked into the design from the outset.
- Community: this project is about you, and we want to create a project that not only brings quality NFTs and cutting edge DeFi into the mix, but also to have a place where you can be rewarded for your participation. We're going to launch a Community Token that can be used to unlock exclusive access to sales and experiences.
What is the Genesis Series?
The Genesis Series is our first NFT release. The plan is to release both Alpha (1 of 1) and Limited Edition (1 of 5,000) versions of our first 5 profiled cannabis strains. Note that we're not necessarily beginning with the essential rootstocks, but rather highlighting some of the most popular (and our favorite) strains. The Alpha versions feature a distinctive and appealing gold color treatment on the logo mark and border. The Limited Edition versions feature a white logo mark and border. As an added bonus we're creating a Special Edition (1 of 1,000) NFT that highlight each of the five Genesis strains in a very cool and unique way.
We are excited to announce that the 5 one-of-a-kind Alpha versions will each feature unique original soundtrack compositions created by recording artist Jaymes Young and inspired by the strain and design!
For this initial release, the following purchase options will be on offer:
- Alpha: our 5 different one-of-a kind Alpha versions will be sold via auction-style format, with an opening bid of 4.20 ETH and no reserve price. In addition to the rarity inherent in this 1 of 1 version, the NFT itself will carry a 100x yield boost when it is staked into our vault system, meaning the holder of this single NFT will receive 100x more fungible token yield than our baseline NFT.
- Special Edition: we've cooked up something "Special" - a single distinctive NFT that showcases the full Genesis Series in a very cool way. Only 1,000 of these NFTs will be available, at a price of 1 ETH. Similar to the Alpha, holders of the Special Edition NFT will receive a 10x yield boost when staked into our vault system.
- Limited Edition: for each of our 5 initial Genesis Series strains we will mint and sell 5,000 individual NFTs. All Limited Edition NFTs will be available for 0.2 ETH. As an added bonus to Genesis Series Limited Edition purchasers, all of these NFT will also receive a 2x yield boost when staked into our vault system.
All told, a total of 26,005 Genesis Series NFTs will be minted. Buy yours while you can!
How will the Genesis Series sale work?
We are proud to announce that we have been selected to participate as one of the first projects to launch on the PolyientX platform. The platform will support a storefront where you will be able to purchase Special Edition and Limited Edition NFTs directly.
At some point later in September, we will launch both the initial sales as well as the vault system on PolyientX. To kick things off, we will also run our 5 Alpha auctions ... spread out so that each auction runs by itself.
For those of you fully committed to the project, you can find Limited Edition and Special Edition complete set bundles available on OpenSea now.
Tell me more about this yield stuff.
Our NFTs are special. Not only are they high-quality and aesthetically appealing, but they also will offer the added utility of earning fungible token rewards (CNBS) when staked in our vault system, available immediately during the launch & sale on the PolyientX platform.
Take a look at the next couple of sections for more information.
Wait, you'll have a fungible token, too?!
You know it!
It is something we're calling a Community Token. Think of it as similar to the points you see in Rewards & Loyalty program elsewhere.
The fungible Community Token will be like any other fungible token out there in the cryptoverse. Except ours will have some cool features and utility in our broader project. You'll be free to do whatever you wish with the CNBS token, like trade it on Uniswap / Sushiswap or any other Decentralized Exchange ("DEX"), pair it with some other token like ETH to provide liquidity on a DEX, or just hold it.
But the intention of the CNBS token is to have it serve as the main utility token in our NFT staking for NFT reward program that will launch in late fall '21, once we're in the midst of the Explorer Series.
The token will also be used to:
- Unlock exclusive early access to NFT sales
- Unlock exclusive access to special events and experiences (both online and IRL)
- Participate in potential tie-ins with other projects or brands
- Support artists and musicians & bring them into the project
- ... and more very cool stuff in the pipeline that we can't wait to share!
But first things first. In our vault system on the PolyientX platform you will have the ability to stake your Crypto Cannabinoid NFTs to immediately earn CNBS tokens. Based on the yield boost properties of the NFTs that you stake, you will be rewarded with CNBS tokens at each block that is committed to the Ethereum blockchain. At the time of writing, this means that you will earn rewards every 13 seconds, or about 6,650ish times per day.
The CNBS token specs (subject to change before launch):
- ERC-20 standard token
- Maximum total supply of 1,000,000,000
- 900,000,000 (90%) allocated to the vault staking and liquidity mining rewards programs (2/3 to vault staking, 1/3 to liquidity mining)
- 50,000,000 (5%) allocated to liquidity pool(s)
- 50,000,000 (5%) allocated to team, partners, consultants, yada yada
- Linearly-decaying rewards (estimated ~3 years to fully minted)
- At each block, rewards will be allocated pro rata per staked NFT / liquidity position
All details related to the utility of the CNBS token in the NFT staking for NFT rewards program will be released in the coming weeks, but rest assured we have some super sweet stuff planned!
What's an example of how the yield boost thing works?
Great question! I couldn't have asked it better myself!
Okay, so you saw above that all Genesis Series NFTs carry some form of yield boost, be it the 100x boost that an Alpha NFT carries, the 10x that the Special Edition NFTs brings, or the 2x boost given to the Limited Edition NFTs.
This means that when you stake any of these NFTs into the NFT staking for fungible token rewards vaults, you're amplifying the yield by the factor assigned to the type of NFT you bring in.
- Alpha: at each block committed to the Ethereum blockchain, if you have an Alpha NFT staked in the Genesis Alpha Vault, you will earn 100 times the amount of CNBS token rewards than if you had staked a regular Explorer Series NFT (our next series after Genesis).
- Special Edition: at each block committed to the Ethereum blockchain, if you have an Special Edition NFT staked in the Genesis Special Edition Vault, you will earn 10 times the amount of CNBS token rewards than if you had staked a regular Explorer Series NFT
- Limited Edition: at each block committed to the Ethereum blockchain, if you have an Limited Edition NFT staked in the Genesis Limited Edition Vault, you will earn 2 times the amount of CNBS token rewards than if you had staked a regular Explorer Series NFT.
You are not limited in the amount of Crypto Cannabinoid NFTs that you can stake in the vault system; the more you stake, the more you earn.
What about farming?
For those of you out there looking to really compound your CNBS rewards, we are also going to support Farming on the PolyientX platform with an additional CNBS rewards stream.
Once a CNBS-ETH and CNBS-USDC liquidity pools are created on SushiSwap, we will create the Farms. You would perform the following steps:
- Step 1: acquire CNBS from the Vaults or the open market
- Step 2: bring your CNBS and either ETH or USDC to the SushiSwap pool and add liquidity
- Step 3: take your SushiSwap liquidity pool tokens (SLP) and stake them in the appropriate Farm in the Crypto Cannabinoid project on PolyientX
That's all there is to it.
As a farmer your "grow operation" will yield you additional CNBS tokens. You can unstake and claim the rewards at any time. You can also pull your liquidity on SushiSwap at any time.
Did I hear correctly that you will be introducing an NFT staking for NFT rewards program?
Yes!
In late fall 2021, in the middle of our Explorer Series, we will launch this innovative program whereby you can earn NFTs!
Here's roughly how it will work:
Step 1: Stake two different Explorer Series NFTs into our vault system
Step 2: Stake CNBS tokens to accelerate the rewards cycle (*optional*)
Step 3: At the conclusion of the staking period, you will have the option of exchanging your staked NFTs for a new, more rare child strain NFT -or- you can reclaim the 2 NFTs you originally staked. But either way, the CNBS that you may have optionally added will have been consumed by the vault.
Last modified 8mo ago
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Contents
Welcome to Crypto Cannabinoid!
Why are you guys doing this?
What is the Genesis Series?
How will the Genesis Series sale work?
Tell me more about this yield stuff.
Wait, you'll have a fungible token, too?!
What's an example of how the yield boost thing works?
What about farming?
Did I hear correctly that you will be introducing an NFT staking for NFT rewards program?