Utility and Burn Cases
Last updated
Last updated
Blend NFTs for new artwork
The Neon Blend token (NFT side of the $NEON token) is used as the primary blending ingredient for original and limited in the Neon Space collection. In particular these are used currently to mint new, original, and limited artwork under the “” and “” schemas. This distribution method is focused on ensuring that active collectors are the ones getting access to new NFT artwork released through Neon Space.
Each time a blend token NFT is used to participate in a blending event, that token is burned and removed from circulation.
Liquidity mining incentives
As an additional incentive to the community of collectors who participate in supplying $NEON tokens paired with $WAX on (NEON/WAX pool), the Neon Space team distributes weekly incentives paid in additional $NEON tokens. Anyone who is actively supplying liquidity to the pool at the time rewards are distributed will get a cut of the payout proportional to their ownership of the total liquidity pool.
The rewards are distributed by the wallet lp.neon which purchases $NEON through the same swap pool to be rewarded on a weekly basis. These funds are supplied in $WAX by the Neon Space team.
Physical redeemables
A portion of every physical merchandise release is set aside for redemption through the burning of TWO Neon Blend Token NFTs from circulation. This is currently administered manually where users fill a form showing interest in redemption. They then burn their blend tokens and receive a Shopify discount code to allow them to redeem ONE physical item for free, including shipping costs.