TerraBay and Ronins
Hello and welcome Explorers to another deep look into an exciting NFT project coming to Luart. Today we will take a look at Ronins and what utility and use cases they have. In order to do that, we first have to introduce what TerraBay is building. After that we will take a deeper look at Ronins NFT, the mint details and TerraBay’s roadmap. Lets dive right in!
TerraBay’s main goal is to provide anonymity to its’ users. They believe that privacy is a basic human right and are working towards making it as easy as possible to achieve.
The way they seek to achieve this is with two main products. The first, what they are calling “The Blade”, is essentially a mixer that pools several users assets together and distributes them back to their rightful owners at a predetermined time. The second product, known as “SwapMix”, allows users to deposit UST and receive a different and desired asset. This is just a general description of their products and if you would like to learn more you can read their whitepaper (subject to change) or follow them at their socials listed at the end of this article.
Ronins and their Utility
The Ronins NFT are samurai inspired characters with, as the team says, “a chic and groove look.” More than great aesthetics, Ronins NFTs provide partial ownership of TerraBay. TerraBay is a decentralized protocol and will allow NFT holders to receive a proportional amount of the fees produced by the platform. In addition to the fees produced, Ronins NFT owners will also be periodically airdropped TerraBay’s native token $BAY. $BAY, as it stands now, will be used as the protocol’s governance token and as a way to reduce fees accrued on TerraBay by 50%.
Ronins NFTs will be used as funding for TerraBay’s other products. As such, Ronins NFT holders will receive their shares after the release of their first product, The Blade. In order to compensate or reward their supporters, TerraBay will airdrop Ronins NFT holders with a steady amount of $BAY tokens.
Now for the details for the mint.
Ronins NFT will be minting on Luart, on February 13th. There are a total of 5069 Ronins available to mint at 250 $UST per NFT.
At the time of writing, whitelist spots have been closed. More information on whitelist and minting will be decided and posted on their Discord channel.
Terrabay will also be holding a raffle for their upcoming IDO for people who mint Ronins. For each NFT minted you get 1 raffle ticket. There will be a total of 500 whitelist slots being raffled for the IDO.
The roadmap for Ronins NFT and TerraBay are a bit different. To see the roadmap for TerraBay please check here. Here we will go over the roadmap for Ronins NFT.
- Ronins are minted and the UST raised from the mint will go to funding TerraBay in its early stages.
- All Ronins NFT owners will receive an initial airdrop when $BAY is released at approximately half of the Ronins mint price.
- Once the mixer is up, NFT holders will receive regular airdrops in from of $BAY tokens and fees generated from the protocol.
- Value Accrual of the $BAY token is reached by burning $BAY tokens for transaction fees and part of the fees going to build a portfolio of $LUNA and $aUST to back its’ value.
In a sense, Ronins NFT is a yield bearing asset the reflects the value of TerraBay, who distributes its’ profits to the NFT holders.