PSY Network — Orbital Alpha #1
Welcome, dear Psychonauts,
This is the start of a new paradigm. In fact, that new paradigm kicked off on the 29th of December 2021 when we released and sold out PlanetZ within 3 minutes. Words cannot describe how proud we are to have such a loving and supportive community.
This being said, let us introduce you to Orbital Alpha — your library for everything you need to know about the PSY Network ecosystem, the NFT space on Solana, and crypto as a whole. Most articles will be public, but the deepest alpha will only be shared and readable for verified holders.
With everything being that exciting and our Discord server having doubled, a lot of new people joined our platform, with a ton of smart questions.
Let’s start with a brief summary, followed by utility, tokenomics, and an outlook at what the future is upholding for our NFT DEFI platform.
The OG collection >ShroomZ< minted on the 11th of September 2021 for 1.75 SOL, has a total supply of 2420, and is sitting comfily on a 2.4 SOL floor.
After this, the team expanded by adding some of the smartest mints from the community to the team, with a current count of 12 core team members.
The vision is clear: Solana as a service, building the top-notch DEFI NFT platform and setting a new standard in terms of utility for the whole blockchain.
Due to the tokenomics that are necessary to build this financial ecosystem, $PSY, the PSY Network utility coin, and PlanetZ, the season 2 utility NFT had been created, to form the holy trinity of our ecosystem.
On the 29th of December, PlanetZ minted at a price of 0.69 SOL and sold out in around 3 minutes. Currently, they are sitting at a floor of 0.45 SOL and are all still holding exactly 1000 $PSY in their own wallet, ready to be harvested by staking them together with your ShroomZ.
- 100.000.000 total $PSY
- < 5.000.000 circulating $PSY (4269 PlanetZ x 1000 $PSY + rewards)
- 50% of all utilized $PSY gets burnt forever — deflationary by utility
- 2420 ShroomZ
- 4269 PlanetZ
Example due to terraforming for Q1 2022:
If all PlanetZ get harvested, we’d land at 4.269.000 $PSY + rewards, which leads us to a potential circulating supply of around 4.300.000 $PSY. Terraforming all 4 traits of your PlanetZ has a total cost of 600 $PSY since it costs you 150 $PSY per terraformed trait. Half of that get’s burnt forever and the other half flows back into the treasury for future rewards and airdrops. This extracts 2.561.400 $PSY (4269 PlanetZ x 600 $PSY for terraforming) out of the circulation, burns half of it (1.280.700), and therefore leaves us with a remaining circulating supply of only around 1.7mm $PSY.
Now you have a formula that you can use for every upcoming utility, calculate emitted rewards, future use cases, their costs and think for yourself, how you value each $PSY and therefore the power of staking, and passive income.
- Terraforming: You need a ShroomZ to harvest the 1000 $PSY out of your PlanetZ and to mimic/copy a random trait from your ShroomZ as an additional trait over to your PlanetZ’ empty trait slots.
- Therefore, the rarity and traits of your ShroomZ not only are nice to have for your ShroomZ but also reflect over to your PlanetZ.
- You can use the same ShroomZ to harvest and terraform endless PlanetZ.
- Pair stake your ShroomZ with your PlanetZ to earn 1$PSY per day.
- Pair stake your ShroomZ with one of our partners, to boost your earned passive income by 25%
- Single stake your ShroomZ to earn 0.3 $PSY per day
- Access to exclusive holders chats and tools in the PSY Network Discord
- Mesmerizing high-resolution art that is able to be expanded via Terraforming it with a ShroomZ
- PlanetZ have their own wallets, holding 1000 $PSY in them, ready to get harvested and redeemed for a ton of utility, explained a bit lower
- Pair stake your PlanetZ with your ShroomZ to earn 1 $PSY per day
- Planetary single stake: Single staking a PlanetZ earns a share of 1% of all other staked NFT’s rewards. Yes, you read that right. Once per month you will earn your share in all emissions, meaning the total volume of passive income, from all partner projects and ShroomZ to be earned, in total. Logically, with every round of onboarding, with every month passing, this share will continuously grow its payout.
Redeem your $PSY for
- PSY Network merchandise
- terraforming your PlanetZ
- our upcoming trustless p2p trading platform
- PSY SWAP
- upcoming NFT’s
- access to tools and alpha
This represents the current developments and goals of Q1 and Q2 but be sure that this is only the beginning. There is much more to come and to be excited about. The future is bright and exciting for PSY Network and we are sure, that over time, our partners will also bring additional utility to the ecosystem.
We thank our partners for trusting us in the early stages and are excited to build the hottest ecosystem on Solana. Bullish on friendship.