Pinkslip Finance, a relatively new project, wishes to make the best out of gaming and decentralized finance. The forward-thinking platform incorporates drag racing to DeFi’s most dominant feature, staking.
Drag racing is a famous sport that features movies such as Fast and Furious, which spikes a great interest in the current generation. Furthermore, there are many games in the market today that integrate the same.
Pinkslip hopes to create an exciting experience for all its users by maximizing the fun they derive from participating on the platform. Besides, its objectives veer towards providing the best possible earnings for participants through passive income.
DeFi’s technology helps to clear out the intermediaries present in centralized finance. As a result, users can happily enjoy the comfort of peer-to-peer interaction. This factor in itself saves time and fees that would have otherwise been high.
The Upcoming Public Token Sale
The platform recently announced its plans to launch a public token sale on Uniswap V2. On the market will be its native token, $PSLIP, which has a limited supply of 30 million tokens. The token is built on Ethereum’s blockchain in the form of an ERC-20 token. 30% of the funds raised from the token sale will provide 30% of the initial liquidity required.
The tokens’ distribution will be as follows:
- 40% for staking rewards
- 40% for sale and listing
- 5% for advisors
- 5% for marketing
- 5% for development
- 5% for the core team
The amount going to advisors, marketing, development, and the core team has to undergo vesting for 12 months.
Pinkslip’s objective is to raise 500 ETH during the event, meant to kick off on August 25 at 16:00 UTC. The minimum amount to join the public sale is 0.1ETH, while the maximum stands at 3 ETH; 1 ETH will go for 7272 $PSLIP.
If it manages to max out during the public sale, the circulating supply remains at 12 million tokens. Any unsold tokens will go into the staking pool, which will be inaccessible for the first few weeks. The whole point of this procedure is to give everyone a fair fighting chance to earn a staking pass.
Participating in Pinkslip Finance
Pinkslip differentiates from other platforms due to the merging of NFTs, DeFi, and gaming under one roof. It is a part of a new yet promising branch of crypto referred to as GameFi. Moreover, it is offering utility in NFTs, unlike many other projects in the market today. Having all these components up its sleeve presents a bright future for all its potential users.
The platform presents users with three types of NFTs to choose from, with different chances of winning. The first is a gold NFT with a 70% chance of winning, a silver NFT with a 50% chance, and lastly, the bronze NFT with a 30% chance. All the categories are available for purchase at an initial price that will increase as time goes by.
To participate in a drag race, you need three cars of whichever rank to kick off. Pinkslip exercises randomness during the drag race to eliminate bias, giving everyone an excellent chance to win despite their NFT. A crucial point to note is that you can only buy the NFTs using the $PSLIP token. All token purchases will be divided into 50% going to the staking pool and 50% to research and development.
Earning A Staking Pass
Earning passive income highly depends on the drag race as that is how to acquire the NFTs required for staking. To get a pass into the staking pool, you need to amass 20 NFTs, which the platform burns into a staking pass.
You can withdraw your tokens from the pool at any time. However, the staking pass is a one-time ticket into the staking pool that burns once you withdraw your tokens, hence terminating it. Therefore, you will have to start the drag race again to earn yourself another staking pass.
A way to avoid the drag race is buying the staking pass directly; its price will spike over time, similar to the NFTS.
A Bright Future for A Young Project
Pinkslip Finance has a myriad of plans for the future, including revamping the site for extra user entertainment, marketing approaches. Special events, the increased rarity of NFTs, among others.
Notwithstanding, on its immediate list is getting incubated by Pincubator. The latter was the host of Pinkslip’s seed sale that ended in under 24 hours. The platform has an active community on Telegram that will keep you up to date with all its upcoming shenanigans. Furthermore, make sure to join Pinkslip’s growing community here.