Introducing Dragon Egg NFTs & the Liquidity Generator
NFTs have come to DeFi Magic, with newly discovered sorcery cast upon them!
We are proud to present two amazing utility elements to the DeFi Magic ecosystem and new staking vaults:
1. A newly invented NFT Sales Liquidity Generator Smart Contract.
2. Dragon Egg NFTs, full of utility, and secrets to come.
3. The addition of two new Staking Vaults.
1. Liquidity Generator Smart Contract
The liquidity generation system gives a unique advantage back to the community from every sale of a NFT hooked up to this system. When a user spends tokens to get the NFT, the smart contract will take the tokens, convert them to axMATIC and then begin a series of events (trades) to increase the liquidity of Dark Magic in the DeFi Magic ecosystem.
The current flow of events are as follows:
The tokens spent on NFTs are zapped to axMATIC, if not already in axMATIC format. 90% of this axMATIC is used for liquidity generation, and the remaining 10% is converted to WBTC for further development of the DeFi Magic ecosystem.
The liquidity generation tokens then do the following:
-The axMatic is then zapped to the axMatic LP and locked into the DRAX smart contract to mint DRAX tokens.
-The DRAX tokens are sold to MATIC through the DRAX-DMAGIC SLP (sushiswap) and DMAGIC-MATIC SLP (sushiswap).
-The MATIC is swapped to axMATIC at a ratio of 1:1, securing the axMATIC contract with further collateral for the ecosystem health by way of the price floor sweeping mechanics (See here for details). This axMATIC is then zapped to a new Dragon token, through the new axMATIC-DMAGIC LP on Quickswap. We are excited to introduce this new Dragon token, named NightBane!
What this means, in short, is that every NFT bought adds more volume, liquidity, and token burning (as tokens are transferred and converted), not to mention a new liquidity pool on Quickswap, allowing for more arbitrage opportunities and further token burning. And, of course, the creation of NightBane.
An illustration of the above:
NightBane operates similarly to DRAX, with the following tokenomics:
NightBane Tokenomics
Name: NightBane
Symbol: NIGHT
Supply: infinite — mints at a 1:1 ratio to DMAGIC/axMATIC LP (Quickswap)
Function: Wrapper token to DMAGIC/axMATIC LP
Mechanics: Self-sustaining yields
TX fee: 1%
·0.7% “feed vaults”
·0.3% goes to treasury fund
Contract Address: 0xeef10c9bf17c9d2c9619fd29447b231ea0fde548
2. NFT Dragon Eggs
The Dragon NightBane emerges from the stories of Hash and the Dragon Eggs, as we’ll read more about soon, to discover valuable hints for what’s to come! For now, you’ll have immediate access now to the first three beautiful and powerful NFT Dragon Eggs.
● Beautifully animated NFTs — Uniquely crafted and animated dragon eggs.
● Utility — NFT initial will allow you to spend them for higher yields on staking contracts.
● Dragon Eggs have vast value buried deep, hidden inside riddles. Have you unlocked their secrets? Read their hints below:
Boneskin Amethyst
Contract Address:
0x20741A87AAFbFEABF29D42f04987Dc502f87270C
Current known utility:
●May be offered as a sacrifice for a 10% yield multiplier on staking contracts.
●Uncommon and moderately valuable.
●Hidden secrets.
View:
https://opensea.io/assets/boneskin-amethyst
Boneskin Sapphire
Contract Address:
0x5572cca754B34707B1eA6dABF2683B4F5AbCc1DD
Current known utility:
●May be offered as a sacrifice for a 10% yield multiplier on staking contracts. ●Rare and very valuable.
●Hidden secrets.
View:
https://opensea.io/assets/boneskin-sapphire
Boneskin Emerald
Contract Address:
0x58BAF9A771F9C8f1814Ab00C06206908cDC5D20A
Current known utility:
●May be offered as a sacrifice for a 10% yield multiplier on staking contracts. ●Rare and valuable.
●Hidden secrets.
View:
https://opensea.io/collection/boneskin-emerald
3. Staking Vaults
We are proud to present two new staking vaults to DeFi Magic! The two new vaults allow for the Dragon tokens DRAX and NightBane to be staked to receive Dark Magic tokens as the reward.
Each vault allows stakers to sacrifice Dragon Egg NFTs they have acquired to get boost/multipliers on their yields!
The multipliers are as follows:
Multiplier 1: BoneSkin Amethyst 1.1 (10%) (Contract Address: 0x20741A87AAFbFEABF29D42f04987Dc502f87270C)
Multiplier 3: BoneSkin Sapphire 1.2 (20%) (Contract Address: 0x5572cca754B34707B1eA6dABF2683B4F5AbCc1DD)
Multiplier 2: BoneSkin Emerald 1.4 (40%) (Contract Address: 0x58BAF9A771F9C8f1814Ab00C06206908cDC5D20A)
What’s even greater is these multipliers are stackable, so if you sacrifice all three Dragon Eggs, you’ll receive a 70% bonus on your staking yield!
What are multipliers? In short, this means that if you staked 1,000 DRAX tokens, as an example, and have a 70% bonus of boosting to get the full multiplier effect of all three NFTs, even though you are only staking 1000 DRAX tokens, your rewards will reflect as if you really had 1,700 DRAX tokens staked! This works on any balance, whether 1,000 DRAX yielding as if 1,700 or 20,000 DRAX yielding as if it were 34,000 DRAX tokens.
The same results work for the NightBane Vault as well.
We Invent the Future
This is yet another small piece to a massive DeFi puzzle of newly invented technology we’re releasing. We’re here to change the game of DeFi utility and use-case to crypto. There is much, much more to come.
Join us to and see what we’re all about:
$DeFi MAGIC 💫
Website: https://www.defimagic.io/
Twitter: https://twitter.com/defi_magic
Telegram: https://t.me/defimagic
