NFT with 100% APR? Probably nothing.

smachna.samsa (25)in #crypto • 3 years ago

Kanon NFT will be available on Kanon.Exchange February 25, 2022

When you mint your Kanon you get two things: a rebate for your entire purchase, and a word that will generate money for you as long as you hold it. Period.

Most NFTs have become the bastard child from social media having an orgy with crypto.

This promising space has often been rigged by the shillers and hijacked by the rug-pullers.

Imagine an NFT that is backed by real utility and amplified with community support.

Kanon NFT fulfills that mission.

In less than 7 days, the Kanon Aquarius Collection will be unveiled and set a new standard.

In anticipation of that momentous event, theywant to describe how a Kanon NFT will make you at least 2125 SNS richer with almost no risk in the first year of owning it.

Here is what you need to know:

•Kanon Staking Pool Risk Free, 100% APR. Every Kanon NFT included in the Kanon Aquarius Collection will be entitled to claim up to 2000 SNS as long as it’s staked in the Kanon Staking Pool. The sooner you stake, the more you can claim.
•Monthly Single-Sided SNS Staking Pool, Risk Free 30% — 80% APR. They will open a special Single-Sided SNS Staking Pool on their website every month for approximately 6 months or until their official Data Yield Farming (DYF) app is launched on the mainnet of Solana Blockchain. The Monthly Single-Sided SNS Staking Pool will start at 30% APR, and there will be a target TVL (Total Value Locked) for each month. If the Target TVL is reached, the next month’s APR will increase by 10%. There will be no impermanent loss or slippage for this pool. It’s risk free.
•Kanon NFT holders can claim up to 1000 SNS at the daily rate of 5.48 SNS until the official DYF app is launched. They anticipate this to be no later than August 31, 2022. After that, the holders are required to contribute a modest number of validated ontologies for Mind AI through the DYF app before they can claim the assigned SNS — and earn additional SNS for their work. (This 1000 SNS is a part of the first bullet, a reward from the 100% APR)

So, let’s unpack this, knowing that the figures present in this article are near approximations at the time of writing.

Before they begin, here are some assumptions:
•1 SOL is worth 100 USDC.
•1 SNS is worth 0.10 USDC.
•Estimated Launch Date of the DYF app on Solana Mainnet: 08/31/2022

So, how did they reach 2125 SNS?
1.Total SNS claimed before DYF app launch: 1000
2.Total SNS claimed from Monthly Single Side SNS Staking: (1,00041.67%30%) = 125
3.Total SNS claimed after DYF app launch: 1000
4.Total SNS earned from DYF app: extra (not added but can be substantial)

If you add them all up, you get at least 2125 SNS.

The Thought Experiment

For a moment, let us suppose (imagine) that SNS price reaches $1.45 at the end of the staking program with the following market conditions unfolding in their favor:

•Synesis One hits all its milestones laid out in the Cosmic Exploration Plan.
•Their games are attracting tens of thousands of new players.
•Their ecosystem expands by 15X the current size — as their community kicks in its contribution and solidifies its core for exponential growth.
•BTC, ETH, and SOL reach ATH.

When all these things happen …at the end of a single year…

You stand to earn US $3,081.25 plus additional SNS earned from DYF plus your Kanon NFT.

That is 1,540% ROI.

Too good to be true? Yes.

Plausible scenario? Yes.

The Kanon Staking Pool

Kanon NFT is an ontology primitive, a fractional ownership unit of the Web3 Data Utility soon to be built by SynesisDAO. As an owner, all Kanon NFT holders are entitled to receive claimable SNS based on how frequently the underlying keyword is accessed by Mind AI. That means, the reward ratio will be different for each Kanon NFT but the function that determines the reward ratio will not be ready until the DYF app is deployed on the Solana mainnet. While a closed-beta version of DYF app is already running on the Solana devnet, their goal is to deploy a much more improved version of it on Solana mainnet by August 31, 2022. (see Cosmic Exploration Plan for Synesians in 2022 ).

So, they have decided to allocate a total of 20,000,000 SNS as a claimable reward to all holders of Kanon NFT from the Aquarius Collection. Yes, every Kanon NFT holder from the Aquarius Collection will be entitled to receive the exact reward of 2000 SNS.

That is, please read carefully, 8% of Rewards and Ecosystem Pool or 2% of the total supply!

One more thing.

This staking program will end on March 14, 2023. To claim the full reward (2000 SNS) for your Kanon NFT, you must stake it and leave it in the pool for 365 days without interruption.

Unclaimed SNS tokens after 60 days from the end of the staking period will return to the Synesis Foundation or the Rewards and Ecosystem Pool.

Here is a snapshot of the terms of the Kanon Staking Pool program.

The Monthly Single-Sided SNS Staking Pool

The Synesys One team will also launch a Monthly Single-Side SNS Staking Pool starting at 30% APR on their website. There will be a target TVL for each month’s pool, and achieving the target will increase the APR by 10% for the next pool (with a cap at 80% APR). Target TVL for each new monthly pool will be announced.

This special pool will be offered to anyone who stakes SNS into the pool until the DYF app is officially launched (roughly 6 months from the Kanon NFT Public Sales Day). They call this risk free because no impermanent loss or slippage exists with this pool.

Here is how it works:

Step 1: Have SNS and SOL in your wallet. (SOL is for gas fees)

Step 2: Stake your SNS into the Monthly Single Sided SNS Staking Pool for 30% to 80% APR. Your staked SNS and rewards will be locked up for 30 days, until the month’s staking pool ends.

Step 3: After the month’s staking pool ends, you must unstake your SNS and claim your rewards.

Step 4: Repeat Step 2 and 3 for each subsequent month’s staking pool.

IMPORTANT NOTE: You must unstake and claim your rewards within 60 days after each staking pool ends, or your SNS will be donated to the Synesis Foundation or the Rewards & Ecosystem Pool.

It’s that simple.

Here is a snapshot of the terms of the Monthly Single-Side SNS Staking Pool program.

After the DYF App Launch

Let’s suppose that the DYF app is launched on Solana Mainnet by August 31, 2022. You have already purchased your Kanon NFT, and you’ve staked it in the Kanon Staking Pool for 100% APR.

Here is what you will need to do to claim your rewards:

Step 1: Install the DYF app

Step 2: Perform DYF tasks to claim rewards and earn SNS for validated ontologies

Step 3: Claim your SNS at the daily emission rate of 5.48 SNS from Kanon Staking Pool

Step 4: Claim your additional SNS from the DYF app

Conclusion

Kanon NFT will elegantly demonstrate how a crypto-asset can accumulate digital wealth based on a well-designed utility and function for a discerning, sophisticated NFT holder facing and standing tall at the convergence of AI, Gaming, and DeFi.

The Synesis One Team are always looking for community members to beta test their products, including the staking pools. If you are interested in helping us test, please reach out to us on Discord .

So, what are you waiting for?

•📋 To learn how to get onto their whitelist, join their discord here.

•🤝 For partnership inquiries, contact Isaac Bang on Twitter here.

•🖼️ Public Sale Site here.

Frequently Asked Questions

Why are you allocating 20M SNS for the Kanon Staking Pool? Crazy?
Because they want to reward the early adopters and early community members for Synesis One ecosystem with extra incentive. Please read this section
in the Technical Lite Paper.
What happens in the case that DYF is delayed to let’s say October 2025 (just as an edge case scenario) — what happens? The remaining 50% are staked until 2025?

No. If the DYF App Launch is delayed, then claiming of SNS continues without the DYF requirement — to the extent of the delay.

Are they making the staking rewards “pegged” to the NFT? Like if the NFT changes hands in the middle of the year, can the new owner stake and earn the remaining rewards?
Yes. Reward for the Kanon Staking Pool is pegged to each Kanon NFT.
Does the time frame matter? If I purchase a Kanon NFT at the minting date, but don’t stake it until July 31, 2022, can I still get all 2000 SNS?
No. You will lose the first 139 days’ worth of the Kanon Staking Pool rewards (out of 2000 total available per Kanon NFT). In other words, you will forfeit the claimable reward of 762 SNS due to your delay in staking (139 * 5.48 = 762 SNS).
What happens to my claimable rewards for my Kanon NFT after the Kanon Staking Program ends?
Your claimable rewards will be algorithmically calculated based on the Synesis Relevancy Index Score (SRIS). Please read this section in the Technical Lite Paper.
What happens to my claimable rewards for my Kanon NFT if I do not participate in the Kanon Staking Program before the official launch of the DYF app on Solana Mainnet?
You will not receive any rewards because their system (i.e. SRIS function) is not live on the Solana Mainnet.
Will all the staking pool contracts be audited?
The Kanon NFT staking pool will be fully audited when it is launched. The first Monthly Single Sided SNS Staking pool will not be audited at launch. However, all the subsequent Monthly Single Sided SNS Staking pools will be audited.