How SolRazr SOLR staking and tradable allocations work by leveraging the power of  NFT on Solana. 

How does SolRazr leverage NFTs?

While the most common use cases they see around today for NFTs are digital art and gaming collectibles, they can be used to identify and verify any unique digital property. SolRazr leverages NFTs to tokenize the allocations and make them tradable and transferrable for the users of their platform, more importantly to those staking SOLR tokens.

Allocation Model — Tiered System

Token allocation through NFTs requires the community to hold and stake SOLR tokens. Tiers are defined based on how many SOLR tokens are staked.

Please read more about the 👉 allocation tiers here

Once the tokens are staked, SolRazr’s smart contract will mint NFTs with project details and other important info coded into each NFT, which acts as the allocation. The allocation amount per NFT is usually fixed at $300 for most projects.

Types of NFT Minted

• NFTs which are valid for specific projects, minted a few days before the IDO begins
• 5 Rare NFTs (each worth $1000 allocation) minted for every IDO
• 1 Super Rare NFT (worth $5000 allocation) minted for every IDO

Rare NFTs and Super Rare NFT can be minted by any tier. The chance to mint these NFTs is again based on the pool weightage for each tier. This is to ensure the entire community gets fair allocations.

Staking

SolRazr staking is set to go live soon, we will announce the dates next week. We also have a detailed article coming up next week on how to stake, how allocations are calculated based on the number of SOLR, time period and IDO pool size, etc.

The numbers shown are ONLY for illustration purposes

Staking SOLR tokens is not the only way to get allocations. SOLR liquidity providers can also mint NFTs for allocations. By providing and locking liquidity, LPs will earn pool tokens which can be staked along with SOLR to mint NFTs.

Here’s an illustration of how the allocation works

Benefits of Using NFTs for Allocations

• Each NFT can be coded with unique data that can be verified directly on-chain
• NFTs can be traded and transferred, thus creating a secondary market for whitelists and allocations
• NFTs can hold unique images or art. They act as PFPs or badges that can be proudly displayed by the owners
• Last but not the least, NFTs are super cool

About Solrazr

SolRazr is the first decentralized developer ecosystem for Solana, offering a launchpad, an accelerator, and developer tools.

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