DeFine integrates Polygon to bring its social profile system to the ecosystem and lower entry barriers to non-crypto users.
We are excited to announce that the NFT Social platform DeFine has successfully integrated with Polygon. This integration aims to lower entry barriers for users of the platform and allow all creators, including artists, musicians, influencers, gamers, and athletes, to engage and interact with their fanbase with digital assets like NFTs and social/fan tokens.
With Polygon, users across the globe will be able to enjoy the platform without worrying about transaction fees. This opens a whole new target group for creators, for it is possible to onboard users for free using meta transactions.
In the near future, DeFine will bring its social profile system to the Polygon ecosystem. DeFine social profile system is an NFT-based social identity constructed for users according to their contribution and achievements in the digital world. With Polygon integration, users will be granted badges representing their activities in the ecosystem, such as crossing asset bridges, providing liquidity, participating in governance, purchasing artwork, and so much more.
Protocols can benefit from providing special perks to a more targeted audience. Special staking programs with higher reward rates will also be available for active governance participant badge holders, providing additional benefits for the token holders.
AMPL is the first rebasing currency and a key DeFi building block for denominating stable contracts. The AMPL protocol adjusts total supply daily based on market conditions, transferring volatility from price to supply. AMPL’s elastic supply policy does not rely on traditional banks or lenders of last resort, unlike stablecoin models. Because of this unique approach, AMPL can be used as a unit of account for smart contracts in a manner that’s not possible with other cryptocurrencies. Learn more about AMPL here and follow Ampleforth on Twitter.
For Ampleforth OG Rebaser collection, it is scheduled to drop on September 3rd, 2021, 8:00 PM PST. Claim will be open from September 3rd, 2021 to September 12th, 2021 available on the DeFine platform. This drop will be eligible to only Ampleforth community members with future exclusive drops and additional special benefits for the badge holders set to be announced in the near future. Stay tuned for more!
Here is a sneak preview of what the product will look like for those eligible to claim:
The OG Rebaser Collection is a one-time print of NFT’s based on length of time held through positive and negative rebases. There are three tiers of negative and positive rebase badges, which increase in scarcity as the number of days held increases.
The initial launch of AMPL Rebase will be reserved for AMPL community members who will be able to claim their badges. For the allotted amount, it will be rewarded to those that claim first on a first come first serve basis. The total amount of positive rebase badge will be 1500 and total amount of negative badge will be 1500. The qualified users will be able to claim the badge on the DeFine platform and when 1500 badges are claimed the claim function will be closed.
- How can I claim if I am Eligible?
-If you are eligible to claim, you will see your claimable badge and a claim button when the claim is open.
- Will there be a second AMPL OG Rebaser Drop in the future if I’m ineligible this time?
-We will announce a second AMPL NFT collection at a later time.
- Will there be any AMAs regarding AmpleForth Rebase?
-There will be a pop-up AMA session hosted by AmpleForth with DeFine joining as a guest on AMPL Discord Channel.
We are excited to invite all Ampleforth community members on the DeFine platform. What tier AMPL hodler are you?
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 700+ applications hosted, ~600M total transactions processed, ~60M unique user addresses, and $5B+ in assets secured.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp; get started here.
DeFine is the NFT social platform for all creators including artists, musicians, influencers, gamers, and athletes. The platform facilitates all social interaction, engagement and communication for creators and their fanbase with digital assets like NFTs and social/fan tokens.
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Official Website: https://www.define.one/
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We’ve seen enthusiastic support from both Ampleforth and Loot communities. Through the badge collaborating with the community, users built a community based on NFT and enhanced social activities with brand new experiences.
In return for the support of the community, the DeFine team will provide special rewards and benefits for those badge holders. OG Rebaser collection and Loot Badge holders who claimed a badge before can get a chance to join our special staking program for receiving a 20,000 DFA as a reward.
Badge holders can stake ‘DFA’ in the staking pool and get 20,000 DFA as a reward. The Staking program will start from 17th Sep and last for 30 days, users who have various badges can be applied with multiple levels.
Staking name: Stake DFA and Badges to earn DFA
Staking period： 10:00am, September 17 (UTC) — — 10:00am, October 16 (UTC), 30 Days
Calculation formula of APY：
APY =Sum of personal badge coefficients * Total reward(30D) * 12 / ∑(Total amount of personal badge * sum of personal coefficient)
User A and B stakes 5,000 DFA each，the total rewards of 30 days are 20,000 DFA，and both don’t stake any badges
APY for A is 1*20000*12/10000 *100 = 2,400% ,the total earnings are 10,000 DFA
APY for B is 1*20000*12/10000 *100 = 2,400% ,the total earnings are 10,000 DFA
User A stakes 1 badge(10x)
APY for A is 10 * 20000 * 12/((5000*10)+5000) * 100 = 4363.63%, the total earnings are 18181.79 DFA
APY for B is 1 * 20000 * 12/((5000*10)+5000) * 100 = 436%, the total earnings are 1816.66 DFA
Here is a demo preview of staking pool for badge holder:
How can I participate if I am eligible?
Users can visit http://app.define.one/staking to access the program, after connecting your wallet, carefully check the badges you’re holding, if you hold none badge, you can stake your DFA to earn more DFA. If you hold any of the Ampleforth or Loot badges, you can add the badges into the staking pool to multiply your DFA earnings.
The initial staking program is the first benefit for users who have experienced the social profile system through Define Badges, and more various promotions, community activities, and benefits will be provided for badge holders in the future. Please stay tuned!