For a long time, Solana has had two distinct user groups:
The first group is centered around NFTs, with a strong focus on trading and community building. Some notable collections are the Mad Lads, Famous foxes, Geckos, Claynos and SMBs. These NFT communities are closely linked to major wallets, engage in incentivized quests, and enjoy instant recognition within the web3 space.
The second group of users is primarily focused on DeFi. These individuals are both users and builders who concentrate on financial products built on DeFi fundamentals, such as Automated Market Makers (AMMs), Limit Order Books(LOBs), Liquid staking derivates, liquidity provisioning, and permissionless lending/borrowing.
These two sets of users have typically stayed in their own arenas. However, with the introduction of the Flash Trade (A Pool-to-Peer exchange on Solana), we aim to unite these distinct communities with Flash beast.
DeFi x NFT
The underlying thesis of Flash Beasts is that there is enormous potential in introducing non-DeFi but web3 enthusiasts to the world of DeFi. By gamifying the DeFi experience, Flash Trade provides a safe and engaging way for users to learn about and start using seemingly complex DeFi products. Our approach not only educates users but also incentivizes them to trade and complete tasks on-chain. This strategy unlocks new emergent behaviors and fosters adoption.
Flash Beasts are dynamic NFTs that possess a unique feature – they evolve based on usage of Flash.Trade. Every possible action one can do on Flash.Trade gains the NFT holder Voltage Points (VP), which determine the stage of evolution of their NFT. Furthermore, as Flash Beasts level up, trading on a wallet with one of them will garner the user increasing referral rebates and discounts on their trading fees as they level up.
As your beasts level up the holders get higher fee rebates on referrals and higher fee discounts!
This innovation aligns the incentives of the NFT community, enabling them to contribute meaningfully to DeFi activities and reap the benefits. Our launch strategy is designed to maximize benefits for our earliest supporters, tracking user activities from day one for those who have minted and used the protocol. Plans for a future token are in place, and VP points will be one of the most significant ways users can gain early access to the growth of Flash. Flash Beasts represent the ideal synergy between DeFi and NFTs, creating a bridge for users to discover the benefits and wonders of DeFi.
Earn Passive Income with Flash Beasts
Flash Beasts are more than just aesthetically pleasing and evolving JPEGs. They offer users a unique opportunity to earn a passive income derived from the fees generated by their share of the liquidity pool. The share of the pool for each Beast is equivalent to the entire mint price of every NFT. This means that by minting a Flash Beast, users retain the full value of the mint price through this mechanism.
None of the mint proceeds will be used for team operations. All of the mint value is retained within the beast itself.
Finally, minting a Flash Beast will be the exclusive path to receiving an industry-first 100% fee share as a liquidity provider on Flash, without the need to fully evolve an NFT. In contrast, other liquidity providers contributing to the pool will receive only a 70% fee share
NFT holders will also be the only users with the ability issue referral links and receive referral rebates from the fees generated by the traders they refer. Similar to the fee discounts mechanisms, the percentage of the fee earned by an NFT holder increases with the level of the Flash Beast.
Looking forward
This, of course, is just the beginning. We have more developments to reveal and the Flash Beasts will always be closely related to the mechanics of Flash Trade. We can’t wait for everyone to have fun using DeFi.
Stay updated by following @FlashTrade_ and joining our discord here.