Place/Date: Montreal, Canada - February 10th, 2022 at 2:00 pm UTC · 3 min read
Contact: Abigail Estrada, Head of PR, Source: Timechain
Timechain, a regulated financial app and DEX aggregator designed for crypto users who want to earn passive yield, is announcing an NFT collection called Crypto Cups, which will offer unique utility to Timechain app users and stakers.
Crypto Cups are a cute science experiment that went slightly awry as the Timechain scientists were developing the TimechainApp. One scientist spilled the coffee on his computer, accidentally summoning the Crypto Cups in a bright flash of white light. Skeptics say that one of the Timechain lab technicians was secretly producing a psychedelic drug and attempted to use the scientists as guinea pigs.
Building off such rich lore, the Crypto Cup collection will feature 10,000 Crypto Cups with six visible traits and a unique skill as the seventh trait, which will distinguish the NFTs by their rarity. Each Crypto Cup can be common, rare, epic, legendary, or unique.
Crypto Cups will launch on Ethereum, Timechain intends to offer future collections on blockchains such as Fantom, Terra, Polygon, and Solana. Holders of at least three NFTs on Ethereum will receive one on Fantom for free. There is also a possibility of obtaining a special Crypto Cup serum, potentially related to the Timechain mad scientist who may have started it all.
Crypto Cups are designed with utility in mind, offering boosts within the Timechain ecosystem. By staking Crypto Cups NFTs in the app, users can earn additional daily TCS tokens, in addition to boosting their rewards rate by 1% on TimechainApp assets. They can then stake their TCS on TimechainSwap (soon to be multi-chain DEX aggregator) .The rarer the NFT, the more capital is eligible for the boost, starting from $10,000 for common NFTs and up to no cap for legendary and unique cups. The bonuses can be stacked as well, so 10 common NFTs are equivalent to one rare, and thus offer a 1% boost on accounts up to $100,000 in value.
The NFTs can be minted in a private sale for whitelisted participants, with the rest distributed in a public sale a day later. The Crypto Cups will be revealed once they are sold out, or one week after the public sale.
Louis Cleroux, CEO of Timechain, said:
“The Crypto Cups found us, and now its our duty to them to let them see the light on Ethereum and Fantom. This is a unique collection designed with special utility for TimechainApp users, but we also believe that holders will enjoy the art. Looking forward to mint day!”
Timechain is a financial app to earn passive yield on crypto assets, targeted for Canadian users and regulated by Canadian authorities. Within a year that it’s been live, the Timechain team has built a mobile app, a multi-chain DEX aggregator that provides DeFi services, a cryptocurrency fund that invests in other cryptocurrency projects and more. TCS, the utility token, is the gravitational force at the heart of Timechain.