SMILE
  • ☺️Smile Paper
  • Introduction
    • Overview of SocialFi on Cardano
    • Mission Statement & Vision Statement
    • Core Values
  • Token and NFTs
    • SMILE Token
    • SMILE Token Staking and Leveling System
    • GENEsis NFTs
  • Platform Features
    • Platform Features and Functionality
  • Governance
    • Governance and Consensus Mechanism
  • Security
    • Security and Privacy
  • Roadmap
    • Roadmap and Milestones
  • Community
    • Community and Ecosystem
  • Conclusion
    • Conclusion
Powered by GitBook
On this page
  1. Token and NFTs

GENEsis NFTs

GENEsis NFTs are a limited collection of unique digital assets within the SMILE platform. Each GENEsis NFT represents a distinctive piece of digital art, collectible, or virtual asset. These NFTs are carefully crafted, combining artistic creativity and technical expertise to produce captivating and valuable digital items.

The GENEsis NFTs also serve as nodes within the platform, contributing to its overall functionality. Owners of GENEsis NFTs enjoy various benefits, including but not limited to:

  • Royalties: GENEsis NFTs generate ongoing royalties for their owners. A portion of the revenue generated from the sale or transfer of GENEsis NFTs within the platform will be distributed as royalties to the NFT owners. These royalties are denominated in SMILE tokens, providing a continuous passive income stream for NFT holders.

  • Buyback Mechanism: The royalties collected from GENEsis NFT transactions will be used to buy back SMILE tokens from the market. This buyback mechanism provides a direct avenue for increasing the value and liquidity of the SMILE token, benefiting the entire SMILE community.

  • Token Generation: GENEsis NFTs within the Smile NFT collection are designed to generate SMILE tokens for their holders. This concept has strong potential to drive early engagement and foster a robust community. The token generation rate is calibrated to balance meaningful rewards without leading to excessive token inflation.

  • Rarity-Based Yield: The generation rate is tied to the NFT's rarity or attributes, where more unique or valuable NFTs earn a higher yield. This creates an incentive for users to acquire higher-tier NFTs.

  • Exclusive Access: GENEsis NFTs provide holders with exclusive access to platform features.

  • Governance Rights: Holders have additional governance rights over protocol decisions, enabling them to shape the future of Smile.

  • Revenue Sharing: Opportunities to earn a share of royalties revenue streams are available to NFT holders.

  • Enhanced Benefits: Combining token rewards with tangible benefits fosters stronger user adoption and retention.

  • Fair Distribution: Techniques such as a weighted lottery, whitelisting active community members, and earnable NFTs through early platform engagement will be used to ensure fairness and build trust.

The limited nature of the GENEsis NFT collection enhances its exclusivity and desirability, creating a vibrant marketplace for collectors and enthusiasts within the SMILE ecosystem.

By combining the SMILE token with the GENEsis NFTs, the SMILE platform offers a comprehensive and rewarding experience for its users, incentivizing active participation, fostering creativity, and establishing a thriving digital economy.

PreviousSMILE Token Staking and Leveling SystemNextPlatform Features and Functionality

Last updated 11 months ago