Wallet Booster NFT Auction

Eruption Booster NFTs

As we near the launch of our protocol, there were common questions regarding the Wallet Booster NFTs and the method in which we will auction them. We’d like to take this time to outline the benefits of these NFTs, as well as the specific details for their initial mint and distribution. Remember, there will only be 170 Eruption Booster NFTs, with only a fraction being auctioned off pre-launch.

These NFTs have been designed by our team as a way to raise funds for the protocol launch. We will be growing Lava into its own crypto-centric product development company, with the NFT funds being used to bootstrap initial developer onboarding and marketing expenses.

NFT Specifics:

— 170 NFTs total, with only ~40 auctioned pre-launch

— 3 Levels

Level 1- 5% boost. 100 NFTs minted.

Level 2- 10% boost. 50 NFTs minted.

Level 3- 15% boost. 20 NFTs minted.

— Only 1 Wallet Booster can be used per wallet (no stacking)

— First buyers will be airdropped pLAVA to mint 1 node (tier is relative to the level purchased)

— Users can resell their NFTs through our in-house marketplace (no peer-to-peer trading available)

Auction Specifics:

— 24 hour auctions using Kalao.io, beginning on 4/21, 12pm EST.

— AMA style Discord auctions will begin at 4pm that same day.

— NFT Vouchers will be sold during the auctions (to retain support for future in-house marketplace capabilities)

— Final NFTs & their respective pLAVA will be airdropped to auction winners prior to launch

— Tentative auction amounts:

25 Level 1s- Starting @ 6 AVAX

10 Level 2s- Starting @ 15 AVAX

5 Level 3s- Starting @ 30 AVAX

The team has created several models for how the NFTs affect sustainability, and the overview is that they have a negligible effect on our runway. The total amount minted has been intentionally kept low, and by the time the increased emissions starts to catch up, we will be well into Phase 2.

We’ve also planned out some added benefits to holders, on top of the existing ones, such as whitelist access to future projects and more.

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