Welcome back everyone! Today, I have some spectacular news to share with you all! Our Function Island NFTs are now live as of yesterday (February 19th, 2024), and can be minted directly from our website! We have also launched various different staking pools for $ISLAND and various other assets! In this article I’ll be discussing the benefits of a Function Island NFT, how to mint one, the massive success our launch has been, our newest staking pools, and what we have coming next here at Function Island!
Function Island NFT Benefits
The main utility of our Function Island NFTs is that NFT holders who stake their NFTs will collectively earn 0.5% of our Treasury’s assets (in $WPLS) DAILY! This means that NFT holders will directly earn passive income as our protocol grows. Furthermore, the treasury’s balance will only increase as we develop more utilities, allowing NFT holders to directly benefit from all future income and utilities produced by Function Island! Moreover, NFT holders will get the ability to decide what tokens the Treasury keeps and how often it distributes them! Finally, I would like to note that holders of our previous Degen Donny collection have been airdropped one Function Island NFT for each Degen Donny they held (instead of for every 5), so enjoy folks!
How to Mint
Function Island NFTs can be minted on our website, and there is an infinite supply, allowing for the Treasury to grow at an increased rate! In order to mint your very own Function Island NFT, you’re going to need our $ISLAND token. Each NFT will cost 50$ worth of $ISLAND, and the amount of $ISLAND needed will vary based on its price. Besides creating buy pressure for $ISLAND, this tokenomics model reduces the $ISLAND supply, both of which allow the Treasury to grow even further, increasing the amount of rewards that Function Island NFT holders receive! Furthermore, our Function Island NFTs are highly liquid, with NFTs listed on our NFT marketplace being bought first every time somebody wants to mint an NFT, rather than minting a completely new token!
NFT Milestones
We are also pleased to announce that over 28k $ISLAND has been used to mint over $28,000 worth of Function Island NFTs within the first day of launch! We have plenty more coming folks, so stay tuned! Thank you so much to the Function Island community for making this all possible, you guys rock!
New LP Staking Pools
We are excited to introduce our first ever staking pool for Function Island, GOAT-ISLAND LP staking! This utility allows both Degen Protocol $GOAT holders and $ISLAND holders to earn passive income in $ISLAND! As for our second staking pool, you can now stake the ISLANDBOYZ LP weighted pool token from PHUX.io to earn even more $ISLAND! This token consists of 30% $ISLAND, 20% $DAI (pdai), 20% $GOAT, 10% $PTS, 10% $PHUX and 10% $WPLS! We are going to have 100% non-native staking pools releasing shortly, so stay tuned for more updates folks!
Upcoming Utilities
Speaking of utilities, we have plenty more planned for Function Island! Within a very short amount of time, we are going to be launching a revolutionary utility for Degen Protocol’s $GOAT token. Besides increasing the reach of our protocol, this will increase the Treasury’s revenue and will buy back $ISLAND, providing even more value to our Function Island NFTs. Besides this $GOAT utility, we are planning on launching our very own vaults (yield optimizers). This will allow users to auto-compound their earnings on all their favourite farms on PulseChain. And the utility for $ISLAND isn’t ending there, $ISLAND stakers will directly earn yield in $WPLS coming straight from the fees from our vaults! You’ve heard it here first folks, we have plenty of utilities planned to create a plethora of value for our Function Island NFTs, and plenty more to come! Buckle up folks, because we are only getting started! Join us on our PulseChain revolution today by following us on our , joining our and checking out our to learn more and stay up to date with the latest Function Island news!
As always, thank you for reading, this is not financial advice, do your own research and stay safe on the blockchain! I appreciate all your support! You guys can follow me on . If you want to support me further and support the work I do on the Function Island team, consider leaving a tip and following our socials, we really appreciate it!
