With cryptocurrency, sometimes new projects experiment with different tokenomics and ecosystem structures. Some take existing projects and create a new one with a little bit if an added spin, while some even withdraw some features and dumb them down to simplify them and see where things go. One project in particular, Noob Finance, is planning on combining various successful DeFi elements and forming one big ecosystem to create something that hasn’t been seen or maintained sustainability the space.
Noob Finance (NOOB, Contract Address: 0x1FC05d480B1eF1175a31123bFDBd36BfEE256889) is an ERC20 Token which aims to create an ecosystem which includes staking farms, NFT’s, and a marketplace which will be utilized to interact directly with the ecosystem, the rewards received from staking, and the NFTs that are issued through the project. NOOB has a total supply of 30,000 Tokens with:
- 21,000 for the presale
- 3,500 for Liquidity (locked with Unicrypt)
- 1,000 for $RUGZ airdrop
- 1,500 team tokens (locked with Trustswap)
- 3,000 for development
When it comes to yield farming, the project plans to have 3 separate farming pools which will help you accumulate more yield rewards and more NOOB. One of these farming platforms is called Geyser (GYSR) which will have its own set supply of 10,000,000 GYSR Token and will only be attainable by participating in staking. In order to utilize GYSR, users will have to create a LP token on Uniswap with NOOB and matching ETH. Users will then be able to stake their LP into the GYSR contract. To unstake your LP from the GYSR contract you will use GYSR tokens after which you will receive a 1x or 2x reward in NOOB.
Initially 2 Geysers will be launched to earn NOOB which will include the pairs NOOB/ETH LP and NOOB/USDC LP. These Geysers will be funded by the development fund as the initial liquidity seed. Additional funds will be added on an “as needed” basis.
These tokens will be distributed via 5 “Geysers". They will distribute 0.20% of the total supply across all 5 Geysers over 7 days. Addition distribution will which take place as follows:
- 1% given to community through 5 kickoff “Geysers". The tokens that will be utilized for staking will be WETH, DAI, USDC, WBTC, and UNI
- 88% given to the community via staking rewards for staking GYSR/WETH LP tokens in the community Geyser. The community pool will release 1/3 of tokens over the first 90 days, another 1/3 over 1 year, and the remaining 1/3 over 4 years
- 10% set aside for the development team. The team will receive 1 minted token which will be staked with 10% of the GYSR supply. The team will be subject to the same vesting schedule as the community (90 days, 1 year, 4 years) to show the teams commitment to keeping the GYSR ecosystem healthy and sustainable.
- 1% to early advisors of the project
The project also plans to build its NFT marketplace. In this marketplace, users will be able to buy and sell NFTs, create their own NFT bazaar which can be used to auction off NFTs to the highest bidder, with NOOB, ETH, and RUGZ initially being the tokens of choice for the marketplace (more will be added in the near future). The NFTs created by NOOB will be a lineage of “Crypto Kid" NFTs which can be leveled up. For the ecosystems launch, these NFTs will be minted in LE form available via airdrop to early holders and sales of a limited quantity, but the leveled up NFTs will be designed completely different from the originally available NFTs.
Combining several aspects to create one enormous ecosystem has a successful way to generate interest and utility in a project. Ethereum, Cardano, and others have followed this blueprint to touch on several aspects of cryptocurrency which drive adoption, demand, and innovation. Noob Finance is looking to be the next ERC20 that accomplishes this. Be sure to check out their website below and join their telegram channel for up to date news and happenings in the community.
- Website: https://noob.finance/
- Telegram: https://t.me/noobfinanc / https://t.me/noobannouncements
- Twitter: https://twitter.com/noob_finance?s=09
- Medium: https://noobfinance.medium.com/how-to-farm-noob-bda43f4b6c20
- Etherscan: https://etherscan.io/token/0x1FC05d480B1eF1175a31123bFDBd36BfEE256889
(I write articles, reviews, and Litepapers for legitimate, interesting, up and coming cryptocurrency projects. Feel free to PM me to review your project. Thank you!)
Disclaimer: This is not financial advice. The sole purpose of this post/article is to provide and create and informative and educated discussion regarding the project in question. Invest at your own risk.