Comment on page
Debonair Degen Hawks (DDH) NFT
Solana DeFi x NFT
- 12.5% of Hawksight protocol fees will be used to buyback HAWK and stake into xHAWK
- This 12.5% of xHAWK will be rewarded to upgraded NFT holders who use (deposit & yield on) Hawksight
- The amount of xHAWK rewards distributed to each wallet is directly proportional to the following factors:
- Total yield earned on Hawksight
- Total fees paid on Hawksight
- Total number of upgraded NFTs
- Rarity of NFTs
In other words, upgraded NFT holders earn back 12.5% of fees from their own Hawksight deposits, AND additionally earn 12.5% of fees from non NFT holders who use Hawksight💡
Token buybacks & (retroactive & ongoing) reward distribution will start early January 2024
In the coming weeks, Hawksight will announce more HAWK tokenomics, accrual value & utility updates, which will further drive the growth of Hawksight's token and DeFi x NFT ecosystem. Stay tuned in our socials!
- 1.Will rewards be retroactive for DDH NFT holders who have been actively using Hawksight and upgraded the NFTs? Yes. We would like to reward and are deeply grateful for early users of Hawksight and DDH NFT holders who stuck with us throughout our journey in building a leading DeFi app on Solana, and eventually all-of-crypto.
- 2.Are rewards only distributed to upgraded DDH NFT holders who deposit & use Hawksight's DeFi app? Yes. This is how we empower Solana active LPs via DeFi x NFT and democratize access to DeFi - by rewarding and incentivizing NFT holders to grow DeFi adoption.
- 3.What is the utility & benefits of HAWK or xHAWK?More announcements coming soon in the next few weeks, leading up to early January 2024.👀
- 4.Do only upgraded DDH NFTs get these updated benefits? Yes. As a long-term focused project, Hawksight constantly evolves to adapt to market conditions and user behaviors over time, which is why the Degen Hawks NFTs were upgraded (into PFPs) with new benefits to replace the old card NFTs with outdated utilities.
- 5.How do I upgrade DDH NFTs from the old card NFT to PFP NFTs? Visit https://upgrade.hawksight.co/ to upgrade the card DDH NFT using $HAWK tokens (You can upgrade max. 5 NFTs per transaction). 2,000 HAWK is needed to upgrade each NFT (Price is subject to adjustments or hikes over time).
Note: Details in this Gitbook are subject to change as the team & contributors constantly gather feedback, adapt to market conditions, and improve the protocol ecosystem. Rest assured, we will always make utmost effort to communicate future updates in a timely & transparent manner. Please do stay tuned in our socials and community.