Utilities for Lightning OG

Hello, everyone!
I created this dashboard: Flipside Crypto.

I am grateful for the positive responses to this dashboard and I’d like to get your thoughts on the utility of Lightning OG! :smiley:

Lightning OG Utility Recommendations in the Dashboard:

  1. Insurance for NFT holders
  2. Exclusive Option Vault ETF for NFT Holders
  3. Exclusive advanced option for NFT holders to choose their risk they are willing to take
  4. Flexible/Alternate Strategy Vault for NFT Holders

Please let me know which ones you think could be implemented, and feel free to build on them! :zap: :zap:

2 Likes

Thanks for the great dashboard and article!

I think baskets of Volts seems like a popular idea from the Discord feedback as well, what would you imagine an implementation looking like? Couple options, curious your thoughts:

  • Stables only → sells equally (?) weighted across basket in Volt#02 → rebalances to keep weights the same
  • Deposit stables → Volt swaps into target basket of assets (say max 5 for now) → deposits into Volt#01 → rebalances to keep the weightings the same
2 Likes

I think the option ETF seems like a low hanging fruit. Not sure the amount of Dev work that would be needed though. I think an easy start is volt 2 since its all base in USDC.

The first recommendation is interesting. I’m wondering about the possible mechanics that would be needed to make it work.

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I would add X voting multiple with the token as well. After composability, may be one day we can have the Friktion wars.

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gm

hydra fanout allows escrow-less staking of nfts, money goes into the top of the fanout and distributes to whoever holds an nft. it’s permissionless so anyone can distribute to anyone.

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This is interesting. Wen Yield @Uddhav.

3 Likes

Grape dao is testing their yield as we speak

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yield from anything

Hey! Both options seem viable, and I agree with Azrangar that we should begin with Volt 2 because all deposits are in USDC.

This idea was inspired by the SRM covered call vault. I was reading over the vault’s historical performance one day when I realised that, while most of the vaults are profitable, there may have been one or two weeks where price increases were caused by unanticipated factors. I was thinking that if a vault existed where risks could be distributed while weightings remained constant, it would be an excellent long-term investment for risk-averse Friktion investors.

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That’s interesting! Do you mean that tokens obtained through exclusive vault deposits have more voting power when it comes to voting on Friktion wars?

The NFTs give extra voting power when held/staked with tokens.

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A question for @Uddhav and @Galileo, for the upcoming NFT airdrops, will the current OG NFTs be kept or will they be burnt for the new NFTs. I’m wonder if we will have two different tiers or will everything be standardized. Asking because I’m wonder which NFTs will these utilities be for.

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How about this for a suggestion to add real value to Lightning OGs;

Token Supply: 1Billion
Lightning OG: Receive 5% of the supply
Total Lightning OG Coin Allocation: 50M

But we’re locked in ‘Vest’ period of 1 Month after the drop, also implementing a staking option for the Lightning OGs with a locking period of: 1 Month (to be renewed each month)

So you stake our 5% supply for us to add liquidity to the pool - We then accumulate APR on the staked NFT - Each NFT owns 1/2222 of the value.
But it can then be traded ‘Burned’ for liquidity reducing the collection to 1/2221 so upping their % each time 1 is burned - Meaning it’ll avoid people cashing out straight away and those who believe in the token will be incentivised to allow their % to be staked.

Keeping liquidity within the team - automatically coins staked.

So with a coin value of 0.10 USD - It’ll mean each NFT would be worth a base price of 20.64SOL.
As this would cause the value to increase on the Lightning OGs then the 4% Artist fee would then be used to provide additional Liquidity to the pool - SOL/$FRIK

1 Like

@Uddhav base on discussion on token utility. I’m now thinking that instead of airdropping the actual tokens, vesting NFTs with locked tokens and x voting power can be airdropped instead. Probably can put this to a vote by OG holders to determine method and vesting length. A major pro here is reducing the risk of major sell off.

@Uddhav @banbannard another utility is either a discounted IDO or discounted call options for the tokens. I like the idea of doing capital raise via call options because it can be time and performance base to the benefit of the team, users and token holders. https://twitter.com/tomjohn1028/status/1510641845516357635

Pros

  1. Gives an advantage over merchant capital. Considering that the options will have a date when exercising will be possible, this length may deter unwarranted capital.
  2. Slow release of tokens as call options would have an exercise date.
  3. If spot price is below exercise price, then users can opt not to exercise the option.
  4. Users can lock the token from the call options in an NFT to receive voting power before exercise date. This will also further slow the rate of token release. By locking in an NFT, users can trade out their positions without sell pressure on the token.

Cons

  1. Low buy in at sale

A combine airdrop and discount at token sale will deepen OG value.