Method Finance Rewards Reveal
We are a few hours away from the Method Finance BLP on Balancer, which is on Tuesday, March 30th @ 12pm EST / 4pm UTC. Leading up to our LBP, some of the most common questions we have been asked is around the specifics of our rewards structure for different Method NFT tiers.
As we have said from the beginning, Method Finance is only as strong as our community and will be community driven. When we launched the ability to mint Method NFTs, our community rallied together and minted over 1,000+ NFTs in just the first day alone. Our early adopters have delivered so much for us already, and we are excited to announce the details on how we will be rewarding that group, as well as any holders of a Platinum/Gold/Mint Method NFTs.
Note: At the time of publishing, there are still approximately 3,700+ Method NFTs within the Mint rewards tier that haven’t been minted. Mint yours here. Or check out the Method NFTs on OpenSea here!
The Method NFT Rewards Tiers Details
As we mentioned in our initial LBP announcement article, we have the following Method NFT tiers:
- The Method Platinum NFTs will be limited to the first 100 minted
- The Method Gold NFTs will be limited to the first 101–1,000 minted
- The Method Mint NFTs will be limited to the first 1,001–5,000 minted
- The Method Black NFTs will be unlimited but not part of the reward tier program
The Method NFT Airdrop Details
We want to provide more information on the fixed inflation for the token and how that’s going to reward the community of Method NFT holders. Let’s start with the level of inflation. We will be setting a continuous inflation rate of a fixed 5% per year. This comes out to ~100,000 tokens per week. While 50% of these tokens will be distributed to the community of Method NFT holders, the other 50% will be distributed to the treasury for the long term success of the protocol.
Next let’s analyze how those additional tokens will be distributed to the tiers. We will distribute an even amount per tier, which equates to a larger marginal amount per Method NFT in the higher tiers. Let’s take a look at what that equates to in tangible amounts:
Platinum tier:
- 100,000 / 2 = 50,000 X 33% = 16,667 / 100 = 166 MTHD tokens per week
- 5.2M / 2 = 2.6M X 33% = 866,667 / 100 = 8,667 MTHD tokens per year
Gold tier:
- 100,000 / 2 = 50,000 X 33% = 16,667 / 900 = 18.5 MTHD tokens per week
- 5.2M / 2 = 2.6M X 33% = 866,667 / 900 = 963 MTHD tokens per year
Mint tier:
- 100,000 / 2 = 50,000 X 33% = 16,667 / 4000 = 4.17 MTHD tokens per week
- 5.2M / 2 = 2.6M X 33% = 866,667 / 4000 = 217 MTHD tokens per year
*Note: We will base the distribution of tokens to each tier based on the total amount of NFTs minted in each tier.
A Note on Airdrop Redemption
While we are extremely excited about the rewards system we have laid out above for our early adopters, we want to make sure that we are creating a system that also enables the long term success of Method Finance and our community as a whole.
With this idea in mind, we have created some simple rules for redeeming rewards. If a NFT holder would like to redeem their rewards, they must be staking at least an equal amount of MTHD to their Method NFT. We believe this rule helps maintain a fair and successful system for all our members to ensure the long term value and success of the MTHD token.
The Method NFT Liquidity Mining Details
Additionally, there will be a liquidity mining program for those who would like to provide a MTHD / ETH pair to Uniswap and stake their LP tokens to their Method NFT. We think this is a great way to showcase the technology, while continuing to reward community members. Similarly with the airdrop, there will also be multipliers for those who stake against one of the Method NFTs in the reward tier.
- Platinum tier: 2.5X multiplier
- Gold tier: 2X multiplier
- Mint tier: 1.5X multiplier
There will be no extra staking beyond the initial amount in order to claim the rewards from the liquidity mining program.
A Note on Rewards / Roadmap
As the community grows, it is up to our community to define through decentralized governance, the benefits of the different Method NFT reward tiers and how we will progress beyond the ones listed in this article. While we will lay out our proposed roadmap in the coming days for additional uses of the token, we are excited for the community to continue proposing new, innovative ways for the MTHD token’s use that will propel the DeFi ecosystem forward.
