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What is Smolverse?

NFTs have come a long way in their appearance, creativity, utility, and functions. If you are a regular into NFT minting & selling or investing or buying or staking, you do know how fast this world has evolved. One of the NFTs that caught our attention recently was the ‘smol’ monkey NFT – ‘Smolverse,’ where everything, as the name suggests, is ‘smol’.

How It Works?

So, as your ‘smol’ monkey gets more intelligent and its IQ improves, it’s head gets bigger too. You get a fun snippet of it when you land on their website’s first page. When you click on the monkey, you see it’s brain size get bigger. Don’t forget to raise the volume and listen to the whole thing- it’s one creative musical ride!

Some interesting allures about Smolverse: –

  • NFT holders can add others to their friend list on the community-built project
  • They are an evolving metaverse. Meaning, as the Smols become smarter overall, the world changes. An increase in average Smol IQ results in technological advances on the public land, such as the addition of roads and spaceships. And, of course, farming of treasures.
  • So, all private land will have sections where users can plant various seeds and other items. Smol Treasures will also be needed to ‘activate’ new parcels of land or change them, such as altering the terrain type or time period.
  • Smolville will heavily incorporate treasures from other worlds, particularly Balancer Crystals from Bridgeworld.

Smolcoin & What You Get In The Smolverse

  • In the Smolverse, you can use Smolcoin. You can use these to purchase new plots of land from the city, rent storefront space on Smol Street, and upgrade your items, or donate to charities.
  • Each Smol will receive Universal Basic Income (UBI) in the form of Smolcoin.
  • You also have a Claimable daily for providing liquidity to the SmolcoinMAGIC pair on the Treasure Automated Market Maker (AMM).

Smolverse Tokenomics

30% – Smol UBI.

20% – SmolBank rewards.

27.5% – ecosystem fund.

15% – liquidity mining rewards.

7.5% – company development.

Reduction of emissions over time

Smolcoin emissions for UBI, Smolbank, and Liquidity Mining (65%) will gradually slow down over a period of five years. At this point the original allocation of 19.5bil Smolcoin will have been fully allocated. From here onwards UBI, Smolbank, and LM rewards will inflate at a flat 1% rate per year (195mil Smolcoin a year)!

Staking

You can earn staking rewards at Smol Bank by staking your coin for various lengths of time in the bank. This will bring you a chance to earn additional Smolcoin regularly, based on your staking activity. The longer you agree to stake, the more you receive. However, Smolcoin holders will be the ones governing Smolville.

Smolverse landing page

Fractionalized NFTs

Fractionalized NFTs in Smolville will only exist as fractionalized pieces until a specific moment in time. From here, they will be yanked from whatever activity they are engaged in and re-absorbed into a single NFT.

Mini Smols

Each of these Smol can be broken down into 10 miniature Smols. And these Mini Smols earn 10% as much Smolcoin as a regular Smol. They can perform the same kinds of activities in Smolville but with less yield or luck. You can find more details on this at https://www.smolverse.lol/whitepaper.

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