In the anticipation of our Hybrid DEX launch at the end of the month, we are proud to announce our very own NFT Collection called Hungry Cows. In this article we will discuss the whitelist process and the two main drops, as well as unpack how the utility within the MuesliSwap protocol will function.
The specifics of the Hungry Cows NFT collection are as follows:
For Phase 1 we will be dropping 2500 Hungry Cows.
Everyone that has staked at least 1 $MILK token in any of our MILK Pools (past or present) qualifies for this whitelist!
If you have not staked as of yet, don’t worry, you still have time — for Phase 1 we will be making a Snapshot on the 17th of July at 5pm UTC. At that point anyone that has ever staked will be whitelisted.
Minting Date will then closely follow on the 18th of July at 5pm UTC, for whitelisted wallets only, on the link here: https://nft.muesliswap.com/
Price for 1 Hungry Cow is 45 ADA and there will be no limitation on how many users can mint.
To sum up Phase 1:
- 2.500 Hungry Cows (out of 10.000)
- You need to have staked $MILK in any Milk Pool at any point from the beginning, until our Snapshot (17th of July, 5 PM UTC)
- Minting Date: 18th of July at 5pm UTC on the link here: https://nft.muesliswap.com/
- Price per NFT: 45 ADA — no limitations on the amount a user can mint
For Phase 2 we have allocated the remaining 7.500 Hungry Cows.
This drop will be open to everyone and there will be no whitelisting.
As of now, we do not have a minting date so stay tuned for further announcements. Price will also be higher than in Phase 1.
Hungry Cows can be locked with your yield farming positions on MuesliSwap. Each Hungry Cow has a unique boosting factor between 10% and 90%. That means your yield farming rewards will be boosted by up to 90% by locking your hungry cow NFT. The boosting factor can be only applied to one yield farming position, which is also why there are no limitations on how many you can mint. A website where you can check the boosting factor of your Hungry Cow will soon follow.
Moreover, Hungry Cows have unique rarities which makes them interesting for NFT collectors of any sort.
After the initial mint all Hungry Cow secondary transactions will incur a 5% trading royalty and 100% of these royalties will go to the MuesliSwap Community treasury, with funds directly reinvested into the MuesliSwap ecosystem at the community’s discretion. This will help scale the treasury with another significant revenue stream beginning in the immediate future and signifies the first instance of protocol owned liquidity.
This launch signifies a step closer to our Hybrid DEX launch at the end of this month and we wish you the best of luck in the minting process.
Original Source: https://medium.com/@muesliswap/hungry-cows-by-muesliswap-nfts-to-boost-your-farming-a…
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By John McCrank and Tom Wilson
NEW YORK/LONDON (Reuters) -Investors clamoring for Robinhood Markets to host shiba inu, a meme-inspired cryptocurrency that has soared in value this month, may need to bide their time as the app-based brokerage says it is in no hurry to list new currencies and analysts expect revenue growth to come from elsewhere.
Shiba inu is a spinoff of dogecoin, itself born as a satire of a cryptocurrency frenzy in 2013, and has almost no practical use. Yet its price has rocketed by as much as 1,000% this month, leapfrogging dogecoin to become the world’s eighth largest cryptocurrency with a $42 billion market cap.
The currency’s eye-watering rally has Robinhood users demanding a piece of the action.
The No. 1 question https://app.saytechnologies.com/robinhood-2021-q3?filter=all&sort=num_upvotes on Robinhood’s Say Technology platform, which crowdsources questions from retail investors prior to the brokerage’s earnings call earlier this week, asked when it will add new coins such as shiba inu.
Separately, an online petition https://www.change.org/p/robinhood-convince-robinhood-they-will-prosper-if-they-list-shiba-inu-coin asking Robinhood to list shiba inu has nearly 400,000 signatures, while #SHIB was trending on Twitter with a barrage of tweets of “When #shiba” aimed at Robinhood.
Investors can buy shiba inu on some cryptocurrency trading platforms, such as Coinbase. Being able to trade it on Robinhood, which generally has lower fees than its competitors, would allow the company’s users to move between crypto, stocks and options on one platform.
The brokerage said this week it plans to wait for more regulatory clarity around any new digital currencies it may list.
Regulators globally have been cracking down on the rapidly expanding cryptocurrency market, including the U.S. Securities and Exchange Commission, which has said it is scrutinizing several aspects of digital currencies, including the offer and sale of crypto tokens.
Robinhood currently lists seven cryptocurrencies including dogecoin, which made up 62% of its cryptocurrency transaction volume in the second quarter, boosting its results.
The listing of the trendy shiba inu coin could lead to a similar volume spike, but catering to client demands on crypto may come with its own set of risks.
If investors continue seeking out newer coins for the prospect of faster returns, crypto platforms will need to stay on their toes to keep their clients happy, said Mati Greenspan, CEO of crypto advisory and analysis at Quantum Capital.
“For an exchange that might mean … relaxing their pathway to acceptance by reducing due diligence and eventually they could end up accidentally listing useless coins, or even scams,” he said.
At the same time, as a brokerage “you never want to be the last … to list a coin, because that’s the point at which price typically collapses,” said Joseph Edwards, head of research at crypto broker Enigma Securities in London. “So there’s something of a game of chicken between these exchanges as a result.”
“Brokers will always chase the trends with regards to facilitating market access to whatever the flavor of the month is … for the sake of their short-term profitability,” he said.
Robinhood’s revenues from crypto trading have grown by 860% over the last year, as retail investor interest in cryptocurrencies boomed, bring the brokerage millions of new customers.
But those revenues plunged 78% from the second quarter, the company said earlier this week, far more than the around 35% industry-wide drop in crypto trading volumes.
Shares of Robinhood tumbled this week after the retail broker reported softer revenue than expected.
Robinhood, which was founded in 2013 with a commission-free model that has become the industry norm, surged in popularity during COVID-19 lockdowns, when sports and most other forms of entertainment were put on hold, and trading in so-called meme stocks became a national pastime among young investors.
Robinhood recently said it will launch crypto wallets early next year, which allow its users to transfer cryptocurrencies to and from their Robinhood accounts, and on Tuesday said more than 1 million people have signed up for the service. Unless dogecoin’s price spikes again, and absent the listing of new coins, a successful launch of the crypto wallets is essential to Robinhood’s crypto revenues returning to anywhere near their second quarter levels, said Piper Sandler’s O’Neill.
(Reporting by John McCrank; Editing by Ira Iosebashvili and Daniel Wallis)
A representation of cryptocurrency Dogecoin is seen in this illustration taken August 6, 2021. REUTERS/Dado Ruvic/Illustration
NEW YORK/LONDON, Oct 29 (Reuters) – Investors clamoring for Robinhood Markets (HOOD.O) to host shiba inu, a meme-inspired cryptocurrency that has soared in value this month, may need to bide their time as the app-based brokerage says it is in no hurry to list new currencies and analysts expect revenue growth to come from elsewhere.
Shiba inu is a spinoff of dogecoin, itself born as a satire of a cryptocurrency frenzy in 2013, and has almost no practical use. Yet its price has rocketed by as much as 1,000% this month, leapfrogging dogecoin to become the world’s eighth largest cryptocurrency with a $42 billion market cap.
The currency’s eye-watering rally has Robinhood users demanding a piece of the action.
The No. 1 question on Robinhood’s Say Technology platform, which crowdsources questions from retail investors prior to the brokerage’s earnings call earlier this week, asked when it will add new coins such as shiba inu.
Separately, an online petition asking Robinhood to list shiba inu has nearly 400,000 signatures, while #SHIB was trending on Twitter with a barrage of tweets of “When #shiba” aimed at Robinhood.
Investors can buy shiba inu on some cryptocurrency trading platforms, such as Coinbase. Being able to trade it on Robinhood, which generally has lower fees than its competitors, would allow the company’s users to move between crypto, stocks and options on one platform.
The brokerage said this week it plans to wait for more regulatory clarity around any new digital currencies it may list.
Regulators globally have been cracking down on the rapidly expanding cryptocurrency market, including the U.S. Securities and Exchange Commission, which has said it is scrutinizing several aspects of digital currencies, including the offer and sale of crypto tokens. read more
Robinhood currently lists seven cryptocurrencies including dogecoin, which made up 62% of its cryptocurrency transaction volume in the second quarter, boosting its results.
The listing of the trendy shiba inu coin could lead to a similar volume spike, but catering to client demands on crypto may come with its own set of risks.
If investors continue seeking out newer coins for the prospect of faster returns, crypto platforms will need to stay on their toes to keep their clients happy, said Mati Greenspan, CEO of crypto advisory and analysis at Quantum Capital.
“For an exchange that might mean … relaxing their pathway to acceptance by reducing due diligence and eventually they could end up accidentally listing useless coins, or even scams,” he said.
At the same time, as a brokerage “you never want to be the last … to list a coin, because that’s the point at which price typically collapses,” said Joseph Edwards, head of research at crypto broker Enigma Securities in London. “So there’s something of a game of chicken between these exchanges as a result.”
“Brokers will always chase the trends with regards to facilitating market access to whatever the flavor of the month is … for the sake of their short-term profitability,” he said.
Robinhood’s revenues from crypto trading have grown by 860% over the last year, as retail investor interest in cryptocurrencies boomed, bring the brokerage millions of new customers.
But those revenues plunged 78% from the second quarter, the company said earlier this week, far more than the around 35% industry-wide drop in crypto trading volumes.
Shares of Robinhood tumbled this week after the retail broker reported softer revenue than expected. read more
Robinhood, which was founded in 2013 with a commission-free model that has become the industry norm, surged in popularity during COVID-19 lockdowns, when sports and most other forms of entertainment were put on hold, and trading in so-called meme stocks became a national pastime among young investors.
Robinhood recently said it will launch crypto wallets early next year, which allow its users to transfer cryptocurrencies to and from their Robinhood accounts, and on Tuesday said more than 1 million people have signed up for the service. read more
Unless dogecoin’s price spikes again, and absent the listing of new coins, a successful launch of the crypto wallets is essential to Robinhood’s crypto revenues returning to anywhere near their second quarter levels, said Piper Sandler’s O’Neill.
Reporting by John McCrank; Editing by Ira Iosebashvili and Daniel Wallis
Our Standards: The Thomson Reuters Trust Principles.