[NFT DROP] SNAFU Collective NFT Farm

Hi Everyone !

I want to continue discusion form 1hive forum ([NFT DROP] SNAFU Collective - ☕️ Cafe - 1Hive) about distribution of remaining NFT from Collection #1 voted in snapshot (Snapshot)

In my opinion releasing NFT to the farm slowly is the best way to do as we are waiting for Collection #2. It should give chance to all new members to farm NFTs.
I would add on Low rarity (1/5000 or 1/1000) NFT so everyone can get it with small amount of points. If possible in Unifty Farm system to restrict it to 5 NTFs per wallet.

Please give your opinions if you have any other ideas for this distribution.

How does the limit get applied? Does it keep track of how many times you claim from that farm and then after 5 you can’t claim anymore? or does it look to see if you have 5 in your wallet at the time you are claiming?

Hi. That was my suggestion to apply, to make more fair for new members of community, but it is not operational. Mean no limits right now. Later on there will be less rare NFT (1/1000) on Farm so my idea is to make sure one wallet can’t collect it all.
What is your opinion?

Hi, so here is the problem (and maybe some solution): Unifty farming contract cannot be changed or upgrade with custom rules, so we cannot check if a user claimed more than one time or stuff like this.
I talked with Benny, the founder of Unifty, and he is working on a system where the points you earn from a farm are ERC20 tokens, which mean you can use those points for other stuff. He also is working to release auctions, where you can bid with the erc20 tokens from the farms. This can lead to a very interesting use case (also expressed by eth_man on the 1Hive thread) which is: you stake SNAFU (or LP), earn Points, the time period to do it is limited, then we put farming NFTs on auction and people bid with their earned Points from the farm. This way people NFT farming could be more equalized.

Another thing we want to do is to use Pool Together, that way you stake SNAFU (or LP), and based on your luck you could win an NFT, SNAFU, physical stuff, etc.

For both options we’ll need to wait a bit, Pool Together is easier and will be our first move, for the Unifrty part we need to wait for them first to release those features and test them. Meanwhile I think the best way to populate the already existing farms is by adding 2 NFTs per week.

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We added to NFTs to the $SNAFU Farm

  • Animals in a tie
    Artist: Faranush
    Editions: 29/50
    Total value: 580 $SNAFU
    Cost: 21000 Points

  • Still beautiful
    Artist: Buda
    Editions: 35/50
    Total value: 700 $SNAFU
    Cost: 21000 Points

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Yeah, I like that idea. There are a lot more options once the “points” become tokens.

It’s a tricky balance to strike though. If you limit the amount a larger holder can participate then they will either split their value across more accounts, or they will just dump to the point that they can participate fully at the maximum limit with one account. I don’t think either of those options is ideal.

Is the plan to give these NFTs any other use case other than as collectibles? If so I think that needs to be factored into the thought process here.

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Ideally we would like to create Campaigns where you need to hold specific NFTs to get the prize. We would like to do something like nft X from $SNAFU pool, NFT Y from LP pool and NFT Z from collection A to win the prize. This way those nft can get value because people will want them to complete the campaign. So if you only was able to farm an nft you could still sell that and make some profit, or at least this is the idea.

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