Abstract

The application of bonding curves in Non-fungible assets has recently been the subject of active research. This article defines our steps to advance the method behind price discovery for rare editions merchandise and also introduces unique algorithmic redeemable NFTs that uses bonding curves to solve several problems.

Bonding Curve

Bonding curve is an innovative element that is tailored to solve the liquidity issue in the NFT space. Though the NFT ecosystem may have seen the creation of multiple intriguing projects, the issue of liquidity still exists.

Bonding curve nips this snag in the bud by allowing buyers to mint a new NFT based on a mathematical function, which is linked to the number of NFTs in circulation.

Usually, the price is determined by the number of digital assets that have been minted in the past. As compared with traditional means of pricing assets, the bonding curve offers transparency without the intervention of a centralized authority. It emulates the basic Economic law of demand and supply, which follows defined rules.

Below are some perks attached to NFT projects like Socksy that utilize the bonding curve in its operations.

• Value

With the Bonding Curve concept, the value of a newly minted token tends to be higher compared to existing NFTs. Holders of $SOXS Token benefit from the rising value of their digital assets.

• Transparency

As a result of the architecture of Socksy and its dependence on the bonding curve, every participant is aware of the price attached by the market to the token at every point in time. Transparency is a key element in this ecosystem.

• First-mover advantage

Early adopters of Socksy and what it stands for are in for a ride of their lives. This is because they gained entrance into the community when the tokens had the lowest price in the curve, offering them an advantage. Those that joined the community before others enjoy a substantial upside potential as against the late adopters.

• Governance System

Decentralization is a feature in the style that Socksy adopts. Community members have crucial roles in the management of the ecosystem by steering the project’s direction via voting on proposals.

The General Idea

Socksy is the first exclusive redeemable 3D NFT collection of 10000 socks that possesses the features which are inherent in Stock NFTs.

$SOXS is the native token of the Socksy ecosystem, and it is backed by a real-life asset. It is different from the regular NFTs that are not linked to any item in the real world. Blurring the lines between NFTs and the real world is a feature that is attainable because $SOXS tokens are backed by physical socks.

Socksy is designed to allow users to redeem their NFTs in two ways, which will be discussed below.

• Metaverse

The utility of these NFTs is visible in the metaverse, and holders can use them to navigate through the terrains of different virtual universes. Those that redeem their NFTs may employ them in pursuing a virtual life in the metaverse.

• Real-life scenario

Secondly, redeeming of the Socksy NFTs comes in the form of physical socks and a tradable 3d NFT as compensation for burning. This means $SOXS holders can decide to collect the physical socks that back their digital asset and also get an additional NFT reward that can be auctioned on any Solana NFT marketplace.

Uniqueness

The “Fair Launch” model

Unlike our predecessors, this one is not exclusively about whales. We designed it to benefit the community as a whole. The total supply of $SOXS token will be capped at 10,000 and a portion of the token will be distributed in such a way that grants the community the opportunity to acquire an original piece of the tokenized asset before then taking advantage of the transparent, defined, and immutable Bonding Curve pricing model.

Burn-and-Redeem Model

Socksy Burn-and-Redeem unique deflationary model is what makes Socksy a leading-edge redeemable NFT collection with measurable appreciation in real value. When a Token holder wants to redeem their $SOXS token for a physical pair of Socks, only 70% of the token will be burned, 20% of the token will be added to the Staking pool, which further boosts the system reward and long term value proposition, The remaining 10% goes to the marketing pool, to be utilized as airdrops and compensation for content creation.

Future Goals

Customizable: Unlike most current redeemable NFTs, we plan to provide customization features to allow users to customize the design of their choice by utilizing our theme features.

Reselling: Socks redeemed by SOXS Token holders can be sold on NFT e-Commerce platforms like NFTify gateway to different buyers.

Parting Thoughts

The Stock NFT represents the future of NFT technology, demonstrating the extent of innovation that could be achieved with blockchain technology through use cases such as Socksy. In our pursuit of a more decentralized future, Socksy could mark the beginning of a paradigm shift in the stock industry as a whole.

The next article will break down the $SOXS governance tokens. The evaluation will cover how they work with the NFT, the distribution breakdown, and the Presale details.

If what we’re building excites you, then come join our community. We look forward to having you join us as a neighbor.

📰 News: | Telegram Announcements | Medium | Website |

📱 Socials:| Telegram | Discord | Twitter |

Hello! First of all, we want to thank our community for their wonderful and creative support so far! This post contains critical information about Socksy Governance Token (SOXS) and the IDO Details

Socksy Governance Token

Socksy tokens (SOXS) are designed for community governance and to make use of the true value of NFT assets. It will be tradeable on any exchange and storable on any wallet that has adopted the SPL token standard.

Supply and distribution are projected as follows

A total of 10,000 tokens will be issued. Here is a breakdown of our projected token distribution.

• 2,400 SOXS (24%) Staking (vested): The staking rewards tokens would be locked up for two weeks following TGE. After that, they will be unlocked on a monthly basis.
• 2,500 SOXS (25%) for the Public investors: Available for purchase through a launchpad.
• 2,000 SOXS (20%) for the Private investors: Available for purchase privately.
• 2,300 SOXS (23%) for the exchange liquidity pool: This will be held by the team as a token reserve for liquidity pools.
• 500 SOXS (5%) Core Team, Advisors & Future Hire (vested): This will be locked for one year following TGE and will be distributed monthly.
• 300 SOXS (3%) for Community marketing (vested): Reward for the contribution of work of the community, Competition rewards, Airdrops, and Future programs.

The token will hold the following utility:

NFT Redemption: You can redeem SOXS for a pair of limited-edition physical socks and a limited edition of Socksy NFT.

Governance: The community will play an important role in shaping the future of the project. Those who hold $SOXS token and the NFT can cast votes on the protocol’s key parameters.

Staking: $SOXS Tokens will be used as rewards in our Liquidity Mining Pool and the distribution rates will be controlled by the Socky Governance modules.

Future Rewards: Acces to cross-chain airdrops and VIP access to in-person and metaverse events.

IDO Details

• Seed & Private Raise: 34000 USDT
• Public Raise: 75000 USDT
• Total Raise: 1o9,000 USDT
• Seed & Private Price: 17 USDT per SOXS Token
• Public Sale Price: 30 USDT per SOXS Token
• Seed & Private Sale Vesting Period: 20% unlocked on TGE, 10% unlocked each month for the next four months
• Public Sale Vesting Period: 30% unlocked on TGE, 30% unlocked each month for the next two months, 10% unlocked on the fourth month
• Listing price: 30 USDT
• Min/Max cap per wallet: 30 USDT/200 USDT
• Initial Circulating supply at TGE: 1150 SOXS
• Marketcap at listing: TBA
• IDO Platform: TBA

We look forward to completing a successful IDO together with our community and will update you with further information as the date approaches.

keep an eye on this space for updates.

As we outline in our project document, the Socksy platform isn’t just a Socks platform. It’s a creative system where a token is utilized to drive creativity through multiple mechanisms.

Uniqueness?

The “Fair Launch” model

Unlike our predecessors, this one is not exclusively about whales. We designed it to benefit the community as a whole. The total supply of $SOXS token will be capped at 10,000 and a portion of the token will be distributed in such a way that grants the community the opportunity to acquire an original piece of the tokenized asset before then taking advantage of the transparent, defined, and immutable Bonding Curve pricing model.

Burn-and-Redeem Economics

Socksy Burn-and-Redeem unique deflationary model is what makes Socksy a leading-edge redeemable NFT collection with measurable appreciation in real value. When a Token holder wants to redeem their $SOXS token for a physical pair of Socks, only 70% of the token will be burned, 20% of the token will be added to the Staking pool, which further boosts the system reward and long term value proposition, The remaining 10% goes to the marketing pool, to be utilized as airdrops and compensation for content creation.

Customizable

Unlike most current redeemable NFTs, we plan to provide customization features to allow users to customize the design of their choice by utilizing our theme features.

Reselling

Socks redeemed by SOXS Token holders can be sold on NFT e-commerce platform NFTify gateway to different buyers.

New benefits and uniqueness will be added regularly as the platform grows.

If what we’re building excites you, then come join our community. We look forward to having you join us as a neighbor.

📰 News: | Telegram Announcements | Medium | Website |

📱 Socials:| Telegram | Discord | Twitter |

• What are NFTs?

An NFT, or non-fungible token, is a unit of data stored on a blockchain to represent a digital asset, such as an image, video, tweet, or audio. NFTs are all about certifying ownership of an asset, which is perfect for bringing fashion into them.

• What is Socksy?

Socksy is a unique 3D NFT collection of 10000 physical properties in the digital world using a mathematical bonding curve as its pricing mechanism. With the primary goal of providing utility in the NFT industry. Socksy is based on the Solana SPL standard, which underpins digital collectibles and most other utility NFTs.

We think utility-driven redeemable NFTs are the future based on user demand.

• Is there a native token for the platform?

Socksy (SOXS) Token is designed for community governance and utilization of the true value of NFT assets. The total supply of Socsky NFT native token, SOXS, is capped at 10 thousand and it will be tradeable on any exchange and storable on any wallet that has adopted the SPL token standard.

• How many Socksy NFT and SOXS tokens will be available?

The total supply of SOXS Token and NFT will be 10000, there will be no more tokens issued.

• What is SOXS Staking?

SOXS Staking is the process whereby users lock up their SOXS or NFT tokens for guaranteed rewards.

• What makes this project unique?

The answer to this is certainly not clear in a few words. Therefore, we wrote a medium article to explain the uniqueness so that more users can grasp it.

• Are there any mechanics we should know about?

Yes, the future integration with lending platforms on Solana ecosystem. These are still in discussions and as such have not been informed to the public until they are official. Our team believes in honesty and transparency.

• When do I receive my Socksy NFT?

Once you redeem/burn your SOXS Token, we will send you the physical socks and the tradable unique 3D NFT.

• Can a redeemed sock be converted back to a $SOXS token?

No, the redemption cannot be reversed once it has been made.

• Any future benefit?

Additional physical and redeemable utilities will be tied to the NFTs, including cross-chain airdrops, DAO participation, and access to in-person and metaverse events.

If what we’re building excites you, then come join our community. We look forward to having you join us as a neighbor.

📰 News: | Telegram Announcements | Medium | Website |

📱 Socials:| Telegram | Discord | Twitter |

Our team is currently working hard in silence to deliver this beautiful project around the NFT space — but when can you expect to see these roll out?

To give everyone a clear idea of our development timelines, we’ve put together this quick product roadmap so you know what you can expect from our team this year.

Our Marketing Team is also working closely together to launch a campaign that will push Socksy to the next level.

Stay tuned for future updates!