Pinkslip Finance is an innovative project conjoining gaming with decentralized finance (DeFi) aspects. It brings a fresh outlook in earning passive income by providing users with a fun gaming experience through racing. Their inspiration? The many good movie productions involving drag races.
Additionally, the platform hopes to take advantage of the growing community rooting for non-fungible tokens. Of late, NFTs have gained a significant following, allowing users to own rare tokens that earn them loads of money. The most common NFTs are art NFTs, but the space is progressing into more exciting ventures.
Pinkslip Finance took the time to bring something to the table for everyone since NFTs do not require the complex experience crypto requires. Its vision for the future hopes to play a hand in the retail and mass adoption of crypto. However, its primary objective is to entertain its users as they interact with its platform.
Another stress point that Pinkslip Finance hopes to hit is bringing utility to NFTs. In its opinion, this is what NFTs today are lacking. Besides, it will bring together DeFi users, NFT enthusiasts, and gamers to provide all their needs under one roof.
Bringing the Significance of DeFi into Its Ecosystem
DeFi is a profitable niche within the crypto world, offering yield farming, lending, decentralization, and more to crypto investors. In 2020 and 2021, its growth has been undeniable, leading to more projects entering its space. Pinkslip is taking advantage of this factor to grow a relatively new space called GameFi.
GameFi is a combination of gaming and DeFi properties into one to build a metaverse. The project which runs on the Ethereum blockchain will benefit from the DeFi component, staking. It also eliminates third parties from the interactions of users on its platform, encouraging a peer-to-peer environment.
An added advantage to incorporating DeFi is the higher yields that come along with the technology at reduced fees. Gaming will propel Pinkslip’s staking pool for a long-term positive yield for its users. It will reduce the chances of users disposing of their NFTs and tokens as holding them will be beneficial.
A Look into the Pinkslip Ecosystem
Users can choose from 3 types of NFTs: Gold NFT, Silver NFT, and Bronze NFT. First, you need its native token, $PSLIP, to purchase these NFTs that you will use in the online drag race. The platform will offer the NFTs at a base price, which will increase steadily over time.
The NFTs have a varying chance of winning depending on their rarity. The platform implements randomness to increase the fairness of the race by not relying solely on the NFT type.
Holding a gold NFT gives you a 70% chance of winning, the silver NFT, a 50% chance of winning, and the bronze one, a 30% chance of winning.
You will need your NFTs for staking, whereby you need 20 cars in the form of NFTs in your garage. The platform allows you to buy only 3 NFTs at the beginning. Afterward, you need to join the drag race and fight your way to winning 20 cars. The rarity is a non-issue as long as you achieve the 20-car milestone.
You can then trade the 20 NFTs for one staking pass, a one-time gateway to the staking pool. You can withdraw your tokens at any time; this move subjects your staking pass to burning, rendering it expired. You will need to go back to the drag race to earn another staking pass.
Nonetheless, there will be an option to buy the staking pass directly, whose buying fee will increase gradually over time.
The Pinkslip Token
The $PSLIP token is an ERC-20 token with a limited supply of 30 000 000 coins in circulation. 40% of the tokens go to staking rewards, 40% to sale and listing, 5% to the core team, 5% to advisors, 5% to marketing, and 5% to development.
The platform plans to proceed with its public sale on 25th August, hoping to raise 500 ETH during the process. The launch is going to happen on Uniswap V2, taking 30% of the amount raised to cater for initial liquidity.
This comes after a successful seed sale on Pincubator in under 24 hours. The platform is also on the road to incubating Pinkslip and for more information concerning its plans, join its growing community here.
