Yield Rewards for Holding
DeMons has the provisions of not letting you Demons be as dead as dodo while residing in your wallets. To remove this apprehension, DeMons uses De-Fi to add financial value around the owned Demons. In a nutshell, Demons will generate $DMZ just by residing in your wallet. All you need to do as the owner is, hold and level up your demons. And claim rewards (in the form of $DMZ) periodically.
To unlock the capability of getting rewards over the demons, the users need to level up their Demons to a minimum of level-2. On reaching this level, the options for reward yielding will be unlocked. An extensive $DMZ reward pool (2,499,999.0 $DMZ) is established to reward all the users. With every block, you will get a small fraction of the reward pool. The amount of reward generated will depend upon the type of Demons owned.
So far, DeMons has mainly two kinds of reward farming Demons- the Originals and the Descendants. The $DMZ emissions for the respective Demons can be analysed from the matrix below:
With the current size of the reward pool, the Demon yield farming will last for three years, but as people level up and name change. Those $DMZ will be taken out of circulation and will be sent to the newly created reward pool, making demon yield farming last for a few more years.
The concept of reward yielding will add an intrinsic value to the Demons apart from the resale value. Eventually, the users could feel financially independent as well as get great returns on the investments as they will earn by retaining their Demon in their wallets for a longer extent. Yield Farming can be viewed as an alternative to levelling up Demons, using the rewarded $DMZ instead of spending the earned ones.
Levelling Up is a process native to the gamification of Demons. Gamifying Privileges will allow users to interact with their Demons, rather than having them as sitting ducks and just reselling them.
We give all our users an option to level up their Demons through $DMZs, which in turn will provide them with an increased valuation of their Demons with additional perks and benefits all through the ladder.
With other NFT projects where you buy an NFT, you get a collectable for yourself; something you look at repeatedly and be proud of. But that’s just it. You can only look at it and applaud it. You have bought a piece of digital art, and if it's not used somehow, it sits disconnected from the blockchain environment. We are also aware of the slopes one might face in this market, and if it’s negative on a given day, you do not want to sell it. Maybe you want to sell your NFT but can’t as the market is down. We all love profits.
To ensure our users do not take losses and have the opportunity to earn even when the market is down and to create a barrier between selling and buying (as higher-level demons will have more value), we have introduced the concept of levelling up the Demons.
And you don’t want to be late in doing so because with the $DMZs getting burned, the cost of levelling up increases. So, try and hop on as soon as you can!
The different levels that can be accessed by our users, which can be unlocked using a certain number of $DMZs are as follows:
Perk- Introduction to DeMonverse A place where your demon is placed in the DeMonverse gallery, giving it visibility to the whole world. Everyone would now know that a new Demon has come to the DeMonverse along with the information on its owner.
Perk- Earning through $DMZ After unlocking level 2, our users can start earning through $DMZ. All you need to do is hold and claim rewards 1500 $DMZ/yr (in the form of $DMZ), periodically.
Perk- Voting Rights At level-3, our users will be given Voting Rights. The voting portal will be deployed to determine Demon community ratings and feedback, and collectively craft the future story of demons. We have chosen to avoid the conventional voting style and enter a more modified and fairer system- quadratic voting.
Perk- Access to Merch Store At level 4, our users will have an immense stake in the business. The Merch Store will be accessible to our users where they will be allowed to create personalized Demon merch, which will be sold on our website, thereby generating a parallel revenue stream for the Demon owners.
Note: The Merch Store is not active as of now but is in the pipeline. You can expect it soon!
Perk- Personal Touch Level-5 is the highest level to unlock. After unlocking, our users will have the chance to make the Demons their OWN and add a personal touch to them. Our users can change the name of their Demons to whatever they wish to and have it permanently stored on the blockchain and become an undying part of it.
- Once a demon is upgraded to a certain level, it cannot be downgraded.
- The level of Demon will not change upon selling.
- New buyers can increase the levels, but in no case can they decrease.
After unlocking level-5, we allow our users to name their demons and add a unique, personalised touch to their rare collectable, owing to your identity and making it rarer. We enable our users to change the name of their Demons to whatever they like (name change comes with a price, so choose it wisely) and have it permanently stored and publicly visible inside the Zilliqa blockchain and become an undying part of it.
It would cost a user 250 $DMZ to change the name of their Demon, making name changing the fastest way to burn $DMZ.
You can question why is it essential to change the name of a Demon or why should you burn your $DMZ by changing the name. They are valid concerns, and we will try to address them.
When we decided to sell Demons, we wanted to stand apart from the rest of the world where thousands of NFTs in music, artwork, etc., are being sold.
We wanted our customers to feel more connected to their Demon and give it a personalised touch, which they can’t at any other place. Naming something is very special, and when that unique name is stored in an extended blockchain environment, you feel connected. That is why it is essential to modify your Demon and name it something that matters to you. And when that Demon earns you profit, you can shout and tell the world that your boy made you some money today!
Also, Name changing is an excellent way to burn $DMZ. When you change your name, $DMZs are burned, i.e., they are taken out of the circulating supply making the number of $DMZ available in the market more scarce, which increases the value of each $DMZ.
Note: * Name changing will be unlocked at level 5 * Name changing cost is 250 $DMZ
A name is treated as a valid name if it observes the following rules:-
- No two Demons can have identical names.
- The name can only be 25 characters long, including spaces.
- Uniqueness is case-insensitive (i.e., «Demon» and «demon» are considered the same for the blockchain).
- There are no leading or trailing «spaces».
- Only alphanumerical symbols are eligible for use, i.e., A-Z and 0-9. No special characters are allowed.
- Used names become available immediately after the name of the Demon changes.