Marine Moguls by MetFi Announces $5.9 Million ERC-404 Token and NFT Airdrop Running Until May
MetFi DAO is proud to announce its Marine Moguls $5.9 Million Token and NFT airdrop built on the cutting-edge ERC-404 protocol is live and running till May 21st, 2024. The airdrop campaign offers unique opportunities for participants to collect free airdrop points that convert into desirable $MOGUL tokens and NFTs.
The innovative ERC-404 protocol that Marine Moguls is built on is a hybrid of fungible and non-fungible tokens, providing NFT owners automatic and instant liquidity whilst giving token holders fractional NFT ownership – the best of both worlds.
Marine Moguls Airdrop Campaign: Opportunities and Rewards
3,000 Marine Mogul tokens and NFTs will be airdropped, representing 30% of the total supply of 10,000 Marine Mogul NFTs paired (bound) to 10,000 $MOGUL tokens on BNB Chain.
Participants generate points on the Marine Moguls Airdrop page. All accumulated points automatically convert into $MOGUL tokens and NFTs at the Token Generation Event (TGE) on May 25th, 2024.
2,500 NFTs (25% of the total supply) have provably random hidden prizes attached to them valued at approximately 2.9 Million USDT. Users can sell the NFTs on an NFT marketplace, sell the tokens instantly on decentralized exchanges (DEX), or merge and craft NFTs to increase their rarity and value.
3,900 $MOGUL tokens (39% of the total supply) will be distributed to users who stake their $MOGUL tokens. If 25% of $MOGULS are staked an estimated APY of 260% is forecast. APY will vary based on the number of $MOGULS that are staked in each 28-day staking cycle meaning the APY could be higher or lower.
$MOGUL stakers are further rewarded with exclusive access to Metbot the high-frequency trading bot that generated high double-digit returns in two months of live testing. MetBot will launch in late May, around the same time as the Marine Mogul TGE.
To participate in the Marine Moguls airdrop campaign, users need to own a MetFi NFT which anyone can purchase for just 10 USDT by connecting their wallet to the MetFi website. Owning one Plankton NFT is all that is required to accumulate airdrop points that will automatically convert to Marine Mogul tokens.
ERC-404 and Marine Moguls: The Secret Sauce
Marine Moguls secret sauce is its innovative application of the revolutionary ERC-404 protocol. This new technology combines the fungibility of ERC-20 tokens with the non-fungibility of ERC-721 tokens into a single ERC-404 smart contract – creating a liquid and dynamic user experience previously unattainable in the NFT space.
When a wallet holds one whole $MOGUL token the ERC-404 smart contract automatically mints a unique Marine Mogul NFT to the wallet – holding both the token and the NFT simultaneously as one is bound to the other.
When the user sells or transfers some or all of the $MOGUL token and the balance becomes less than one whole $MOGUL token the NFT is burned and ownership rights are altered. When the balance is again one whole $MOGUL token a new, unique NFT is again minted to the wallet, reaffirming full ownership.
This innovation gives users the ability to instantly discard an NFT they don’t wish to hold by simply selling a fraction (or all) of a $MOGUL token and buying it back minutes later to get a newly minted NFT rather than waiting for someone to buy the NFT on a marketplace which has been standard practice before the advent of ERC-404, giving NFT owners instant NFT liquidity.
Each Marine Mogul NFT has a unique mix of provably random traits, rarities, and attributes with the ability to merge and craft NFTs into rarer, more desirable, and valuable NFTs.
Owning less than one whole $MOGUL token gives the user fractional ownership of the entire Marine Moguls NFT collection.
As a result, ERC-404 solves the common and painful challenges that come with an auction-based NFT trading system that prohibits instant and seamless NFT trading, making price discovery inefficient. On the other hand, users who wish to sell their NFT for more than the $MOGUL token price always have the option to sell it on an NFT marketplace.
This innovative new concept represents a more efficient way to interact with, trade, and experience NFTs.
About Marine Moguls
Marine Moguls is developed and powered by MetFi DAO, a leading decentralized investor and incubator of early-stage Web3, AI, and gaming startups and the developer of proprietary product offerings including MetBot, Marine Moguls, and MetFi NFTs.
MetFi is radically changing the traditional angel investor and venture capital model through its innovative DAO venture model where the community votes on all important decisions affecting the DAO, including which Web3 projects to invest in and which products to develop and bring to market. By aligning the desires of the Web3 projects that MetFi invests in those of its community MetFi has created a synergistic and frictionless ecosystem where all parties benefit.
MetFi owns and controls its liquidity, giving MetFi DAO enormous flexibility to move swiftly on investment opportunities and adapt to prevailing market conditions. The community-driven and progressive decentralized ethos is evident in MetFi’s early adoption of the ERC-404 standard, elevating NFTs beyond digital collectibles.
The ongoing Marine Moguls airdrop campaign is a prime example of MetFi’s vision in action. The airdrop campaign will conclude on the 21st of May, 2024, and reward participants with $MOGUL tokens and NFTs.
You can learn more about MetFi DAO and Marine Moguls by visiting the MetFi website, the Marine Moguls’ website, and the social media pages below.
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