New cryptocurrency and non-fungible token (NFT) ventures appear every day, contributing to the industry’s rapid growth. Exciting examples include the forthcoming debut of the PsychoHōshi, which will use the Shibarium blockchain to issue its own native HSI coin. The PsychoHōshi foundation has created a novel staking method that provides a significant number of HSI tokens to users who hold its OG NFTs.
PsychoHōshi NFTs’ staking method is only the beginning of their special characteristics. There are several types of NFTs, each with its own set of features and advantages including stake rewards, trading commission splits, and account tiers. The introduction of HSI tokens is part of the foundation’s plan to create an ecosystem that supports and benefits all stakeholders, from artists and developers to financiers and end users.
Those that stake their PsychoHōshi OG NFTs will be rewarded with 20% of the total quantity of HSI tokens. The PsychoHōshi foundation, which will help foster the ecosystem, will own 30% of all HSI tokens. The remaining 35% of HSI tokens will be distributed to the social media platform’s video producers and active users as a reward. The OG NFT is the original NFT in the PsychoHōshi ecosystem and has a supply of 10,000.
It’s important to note that the ERC721 and ERC1155 standards used in the development of PsychoHōshi NFT are implemented on the Ethereum blockchain. You can get a PsychoHōshi NFT in three different rarities: Gold, Exceptional, and Rare. There will be a total of 10 billion HSI tokens in circulation, with 20% of them being distributed to NFT investors (2 billion token). There are 9,900 of the Gold NFT in circulation, with a staking value of 1.5 billion tokens; 100 of the Special NFT, at 250 million; and 10 of the Rare NFT, worth 250 million. If you stake an NFT, you’ll get HSI tokens; the amount you get depends on the kind of NFT you staked; the Rare NFT will get the most.
NFTs have practical uses, such as staking for HSI tokens and a cut of NFT market trading costs, increasing one’s NFT verified account level, voting in the OG DAO, and gaining access to private events and meetings.
Staking, account level upgrades, and payments of any kind are all possible using the HSI token. In the PsychoHōshi ecosystem, it also acts as a means of trade.
In light of this, the PsychoHōshi ecosystem is an intriguing venture with several advantages for consumers and investors alike. The NFT categories and the staking mechanism work together to provide participants in the ecosystem a one-of-a-kind and rewarding experience. In addition to serving as a means of exchange, HSI tokens are essential to the success of the HSI ecosystem as a whole, which in turn benefits token holders, contributors, and end users. The PsychoHōshi project is intriguing since staking may yield HSI tokens and there are additional advantages to having an OG NFT.
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