PSY Network — Orbital Alpha #2
Welcome, dear PSYchonauts,
we are more than happy to welcome you to the second episode of 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.
Terraforming is live!
We are more than just proud, that this mechanic is live, just 20 days after the successful mint of PlanetZ. While you are able to pair stake your PlanetZ together with a ShroomZ, besides earning 1 $PSY per day, you now have 2 new choices:
- Extract: Harvest 100 $PSY per day out of your PlanetZ, until you have extracted all 1000 $PSY out of your PlanetZ
- Add Trait: You are able to add 4 completely new traits, such as “atmosphere” to your PlanetZ, by redeeming 150 $PSY from which 50% will be burnt forever
Thanks to terraforming, you now are able to lay your hands onto your PlanetZ and customize it by yourself, which makes your PlanetZ far more desirable and truly one of the most attractive NFT’s out there.
How Terraforming and other utilities are bullish for $PSY:
Due to $PSY being deflationary by utility, every redemption of $PSY leads to a burn of 50% of those used $PSY. Therefore, full terraforming of all 4269 PlanetZ would lead to 2,561,400 burnt $PSY, which is more than half of the current circulating amount of $PSY.
Additionally, you will be able to redeem your $PSY to make your PlanetZ interactive, you can check out this sneak peek on >SOLSCAN<
The first, limited NFT collection that you can redeem your $PSY for is also in the pipeline, such as us having talks regarding PSY Network merchandise, PSY swap, and the PSY Network p2p trading platform.
Why this is not only cool but also important:
We hear you, we hear all of you, and work 24/7 on the feedback you reach out to us. We think it is not only cool but also a true driver regarding the value of your portfolio to diversify into earning all the different assets from our partners, but everyone has his own taste, some might love $DJN, $PSY, or $SOL the most, which is why we are working on PSY Swap, where you will be able to focus on the assets, you favor the most.
Our p2p trading platform will allow you to exchange your NFT’s safely, without having to buy and sell them on exchanges like Magic Eden, which allows both parties to save on fees, drastically. This way you will be able to directly trade Rank 11 ShroomZ against a Pesky Penguin, a Fenix Danjon, and 6 PlanetZ, as an example. Welcome to the free market of NFT’s.
Disclaimer: Please, do not ask WEN or how much $PSY for which new utility or mechanic. A lot of mechanics that we are implementing are the first of their kind and we are always as transparent as possible. The most probable payment solution will forever be a one-time payment for lifetime access to certain mechanics and we are working endlessly to push all of these exciting features to you ASAP but happy and healthy devs are the best devs.
What’s up next:
- We are proud to announce, that we will host a Twitter space later this week, with our PSY Network DEFI platform partners. Hint: We are currently stacking up the number of partners from 5 TO OVER 10!
- Our GitBook is in the last steps, ready to be released shortly. This technical documentation will ease the process of gathering all the information and history of PSY Network in one, simple source.
- PSY/SOL LP farming: We plan on offering liquidity providing to our community after most of the $PSY extraction took place so that the majority of selling pressure is gone already, to minimize the risk of impermanent loss and devaluation to the most extent. The current liquidity is taken out of the PSY Network treasury to enable trading SOL against PSY and else around to the community.
- Since our community has more than doubled within the past month, we are currently stacking up on moderators and feedback gathering from our community. We will provide you with a google survey so that we can implement smart ideas from the community and work on what you think we are still lacking or even better: hearing your PSY Network story and why you think that this journey has been great for you so far.
We are burning to tell you more but this would probably create a supernova, so we will leave it at that and let you enjoy the upcoming week with a little cherry on top of the ice cream: The first Orbital Alpha Analysis article is going to be released exclusively to PSY Network asset holders on Sunday, stay tuned.
Before you are leaving this episode of Orbital Alpha, be sure to watch this lovely video tutorial, created by our golden voice, Uncle HaZZor:
To celebrate terraforming being live, we are giving away this PlanetZ to a community member, that likes, retweets, and comments with the answer to the following question to the embedded Twitter post:
“What makes PSY Network special for you?”
We thank our partners for trusting us in the early stages and are excited to build the hottest ecosystem on Solana. Bullish on friendship.