The moment you’ve all been waiting for…
The Dead Devs have been hard at work and a lot of changes are taking place with this upgrade, so we felt it was best to detail everything in a proper article for you, anons. Time to dive in.
For those who are new to the $ROPE ecosystem, $HOPE is the token earned from staking NFT’s, ROPE, and LP tokens at rope.lol. As detailed in our last article as well, $HOPE has gone through a migration from a non-transferable ERC-20 token to a fully tradable asset with this upgrade.
There is a migration portal available natively on rope.lol to make this as smooth of a transition as possible.
$HOPE does not have to be transferred to V2. $HOPE V1 (non-transferable) will still be generated on the ROPE platform from staking and either version can be used to participate in NFT acquisitions.
As we mentioned in our last article, liquidity is being migrated from Uniswap to SushiSwap. If you have UNI LP tokens, please migrate now as SushiSwap LP tokens will be $HOPE generating as well as xSushi.
There will be an easy migration tool coming shortly, but for the time being, SushiSwap Lite provides a simple, one-click migration for Liquidity Pool tokens that can be used here: Migration.
Going forward, staking caps have been removed on the following pools:
- ROPE/ETH SLP
- HOPE/ETH SLP (these tokens generate the most HOPE)
- ROPE/LINK LLP (coming soon)
ROPE/ETH UNILP will remain capped.
We will be deploying a new contract to support the staking of xSushi that will be capped at 20% HOPE generation from the Giver of Hope contract. To put this into context through an example; if the Giver of Hope is generating 500k HOPE a day, the max xSushi generation will be 100k HOPE Per day split between xSushi stakers.
So if you’re 25% of all xSushi staked on rope.lol, you’ll get 25k HOPE per day.
To clarify, xSushi will not be TVL fixed interest bearing like the other pools, it will be capped and split similar to how $SUSHI pools started.
NFT’s & Mechanics
With the end of Season 2.9.9, the start of Set 1, and a new path forward, we’ve introduced not only new mechanics but also a new form of NFT’s (possibly the first to do this?)
Set 1: Fear of the Unknown
Through the guidance of our art director, Kika, we collaborated with a team of professional animators to bring you three variants of five separate models of kawaii inspired Lovecraft themed creatures.
Each of the five characters has a common 4k image (displayed above), rare gif, and super rare interactive 3D variant. Oh ya, did we mention that these are VR compatible?
The quantities for each tier are as follows:
- Common: 250
- Rare: 50
- Super Rare: 10
There are currently two methods of acquiring Set 1 NFT’s on the rope site, which we’ll cover more in the next section. The method everyone is familiar with is outright purchasing. The NFT’s for this set are priced as follows:
- Common: 8K $HOPE
- Rare: 40K $HOPE
- Ultra Rare 200K $HOPE
Now that $HOPE is tradable, interested buyers can stake tokens on the $ROPE platform to earn $HOPE or purchase $HOPE on SushiSwap to acquire NFT’s.
As mentioned above, we’ve altered the mechanics for NFT claiming and included two separate ways to acquire NFT’s natively on rope.lol.
Outright purchasing as detailed above and the new feature is the Lovecraft Lottery. Lottery tickets can be purchased for 1k HOPE. Each variant of NFT (common, rare, super rare) will have a separate lottery with different ticket caps than each other.
Once the number of tickets have been purchased for a model, a winner is randomly selected by a user calling rugPull(); to settle the raffle.
All lottery tickets are 1K HOPE, regardless of which rarity. The ticket limits for each tier are as follows:
- Common: 8
- Rare: 40
- Super Rare: 200
There is 1 raffle per tier held at a time, and characters included in the raffle are cycled through one after another to give each participant a fair chance at acquiring each model.
It ain’t much, but it’s honest work
With $HOPE being tradable, $ROPE is now a yield and interest-bearing asset. To keep all of our anons feeling cozy, we’ve added APY’s to the site so you can keep a closer eye on your humble crops and honest yields.
There’s a lot to digest in this protocol upgrade, new content, and announcements of what the Anons have planned, but we HOPE this helped to break down what changes are immediately present and applicable. We are extremely excited for this new direction for $ROPE, the creations being presented, and look forward to continuing to vibe with you all, anons.
— Dead Devs