What type of utility will the Odyssey NFT's have?
G3N3SIS NFT's will have a set supply and will be divided by rarity class. Each G3N3SIS NFT holder will be entitled to a share of a special stake "pool" proportional to the rarity of the NFT(s) they hold. The higher the rarity, the better staking rewards (because less NFT's occupy the pool)
When you claim sOHM from your NFT the yield weight goes down, which will result in a lower fair market value for your NFT. When you do not claim the sOHM from your NFT, the yield weight of your NFT goes up, which will result in a higher fair market value.
To learn more about utility, go here: https://highfalutin-eucalyptus-4d4.notion.site/Utility-2-1-38e7f4c6256741239dc635aa5244915a
Why offer utility for unlocked staking, isn't this against the spirit of 3,3 if we want to encourage lock staking?
Odyssey will help the user onboarding funnel be set wide so that users get familiarized with the protocol. This will allow them to be more comfortable with a locked staking commitment down the line. If a new user must choose the bottom of the barrel without any other optionality to their investment beyond lock staking, they may be turned off from investing in the protocol at all. NFT options tied to unlocked staking add additional optionality, interactivity, and incentive to base level investing on the protocol. It also opens the protocol to new demographics which are more NFT/art-oriented.
The yield alone is enough incentive for locked staking, and we do not want NFT's to distract from lock staking incentives and tokenomics.
Great for the NFT, holder, but what does this do for the protocol?
As demand for staking NFT's grows, so too will revenue for the protocol through royalties from those sales. The Olympus protocol will receive 33.33% royalties from all Ohmie Auctionhouse sales, whether those sales are related to staking utility or not. 33.33% will also go to Odyssey treasury and 33.33% will go to the artist.
Odyssey will be selling raffle tickets for some of our Genesis NFT releases. The Olympus protocol will receive 33.33% of all revenue from these raffle sales. 33.33% will go to Odyssey treasury and 33.33% will go to the artist.
The protocol will also own one of the 3 Genesis NFT's, which will have a fair market value based on the public auction of one of the 3 NFT's. The protocol holding this NFT will diversify the treasury and generate yield from the staking utility of the NFT.
What is the Ohmie Auctionhouse?
The Ohmie Auctionhouse will be a marketplace where NFT's may be transacted using protocol aligned assets (such as FRAX and DAI). In addition to transacting normal NFT's, Ohmies may transact Odyssey NFT's which have staking utility.
The Ohmie Auctionhouse will be developed using the Shoyu infrastructure, and in the future will be compatible with 3D metaverse environments.