🔼Upgrading Your NFT
Duelwhales NFTs will be able to be upgraded to increase its utilities in a unique way.
Increased utilites
Duelwhales have a unique upgrade purpose, as upgraded NFTs have a higher yield than non-upgraded NFTs. Upgrading your NFT from level 1 to level 2, increases both its staking yield as well as its rev-share payouts by 1.5x. Upgrading your NFT from level 2 to level 3, increases the staking yield and rev-share payouts by another 1.5x, giving it an exponential increase.
Staking upgraded NFTs
Think of each Duelwhales NFT level 1 as it receives 1.0x staking yield and 1.0x rev-share payouts. When you upgrade from level 1 to level 2, it goes from 1.0x to 1.5x. When you upgrade from level 2 to level 3, it goes from 1.5x to 2.25x, making the last upgrade the most valuable.
Staking your Duelwhales NFT at level 1, gets you a 10 $DUEL/day yield. Staking a level 2 NFT gets you a 15 $DUEL/day yield, and staking a level 3 NFT gets you a 22,5 $DUEL/day yield.
Staking your 1/1 Duelwhales NFT at level 1, gets you a 50 $DUEL/day yield. Staking a level 2 1/1 NFT gets you a 75 $DUEL/day yield, and staking a level 3 1/1 NFT gets you a 112.5 $DUEL/day yield.
Rev-share upgrades
The rev-share part of the upgrades is a bit more complicated, as upgraded level 2 or level 3 NFTs will get bigger shares of the payouts compared to level 1 NFTs. In the beginning, when 0 NFTs are upgraded, and no 1/1s exist, this gives each Duelwhales NFT a base of 0,045% of the full payout pool if 100% of all NFTs are staked. However, once NFTs are getting upgraded, this changes dynamically as upgraded NFTs cut into the level 1s portion of the rev-share.
The examples below are based on the assumption that 100% of all NFTs are staked which might not be entirely accurate.
Payout examples for upgraded NFTs
Example 1
Payout pool: 10,000$
Amount of level 1 NFTs: 100%
Amount of level 2 NFTs: 0%
Amount of level 3 NFTs: 0%
Payout share for Level 1 NFTs: 100% or 10,000$
Payout per NFT: ~3 $
Example 2
Payout pool: 10,000 $
Amount of level 1 NFTs: 80%
Amount of level 2 NFTs: 20% (Max cap)
Amount of level 3 NFTs: 0%
Payout share for level 1 NFTs: 72.81% or 7,281.85$
Payout per level 1 NFT: ~2.73$
Payout share for level 2 NFTs: 27.18% or 2,718.15$
Payout per level 2 NFT: 4.07$
Example 3
Payout pool: 10,000$
Amount of level 1 NFTs: 70% (2333)
Amount of level 2 NFTs: 20% (667)
Amount of level 3 NFTs: 10% (333)
Payout share for level 1 NFTs: 57.13% or 5,713.85$
Payout per level 1 NFT: ~2.45$
Payout share for level 2 NFTs: 24.52% or 2,452.56$
Payout per level 2 NFT: ~3.67$
Payout share for level 3 NFTs: 18.38% or 1,838.16$
Payout per level 3 NFT: ~5.52$
This highlights the importance of upgrading your NFTs when they become available, as you will earn much more from an upgraded NFT than from a non-upgraded NFT. The above tables don’t account for any 1/1s and should only be considered examples, not necessarily what will reflect real-world payouts.
Upgrade costs
Upgrading your Duelwhales NFTs will be paid in full using $DUEL. The cost of upgrading your NFTs are as following:
Level 1 to level 2: 2000 $DUEL
Level 2 to level 3: 4000 $DUEL
Maximum caps of Level 2/Level 3
There is a built-in max cap of the supply that can be level 2 and level 3 at any one time. The max % of the supply that can be level 2 at the same time is 20%, and the max % of the supply that can be level 3 at the same time is 10%.
Phase 1 (upgrading from level 1 to level 2) of our upgrades will open up approximately 2 months after our mint, and phase 2 (upgrading from level 2 to level 3) will open up roughly 4 months after phase 1.
What this means, in reality, is that once phase 1 upgrades open up, it is on a first-come, first-serve basis. Once 20% of the supply has been upgraded; there are no more spots available until level 2 NFTs start getting upgraded to level 3. Once level 2 NFT holders start upgrading their NFTs to level 3, spots open up in real-time.
Once the level 3 cap has been reached (10% of the supply being level 3), no more NFTs will be able to be upgraded to level 3 (except 1/1s, as all 1/1s will have the option to be upgraded to max level).
Art upgrades
There will be a distinct difference between the art for level 1 NFTs, level 2 NFTs, and level 3 NFTs. Our goal is for all holders to instantly be able to tell the difference visually between the various levels. Many projects offer art upgrades to their holders as a utility. With us, it comes with the package as the main utility of upgrading is for the utility the higher level NFTs bring, rather than “just” being an art upgrade.
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