At 16:00 UTC 3rd Jun, 2021, Oraichain will start farming SamORAI token - The Warrior Gallery token.
Below are some FAQs for people who are concerned about this program. Please read our announcement about Farming SamORAI token program here before reading the FAQs: https://blog.orai.io/farming-on-airight-an-introduction-333cb8b533dc
Q: What are the special benefits later when holding NFT from gallery? relating to services or rewards?
A: Holding an NFT from any gallery is equal to invest in the asset and gain special benefits assigned to the gallery by the gallery creator.
Some basic shares for NFT holders in a gallery include exhibition fee, NFT lending fee, royalty fee, and farming fee.
“The Warrior” gallery is the first gallery created by Oraichain team, and Oraichain team will assign extra benefits to the NFT holders: a lifetime discount (up to 100%) when using aiRight and AI requests, better APR of AIRI rewards for farming when the AIRI is listed.
Q: Who created all the NFTs in “the Warrior” gallery?
A: All artworks are created by our design lead, Nazzamp, whose talent is abundant from software engineering and UI/UX design to traditional and digital art. As he explores and expands his artistic style, Oraichain is proud to feature his artworks in this debut gallery.
Q: How to be a holder of an NFT from the gallery?
A: There is “Buy” and “Sell” functions in the Gallery on aiRight. You can become an NFT owner by using the corresponding gallery token to buy the NFT.
Q: 13,520% APR at the beginning: Will the APR gradually decrease later? If yes, after or within 5 weeks
A: The more liquidity providers join the farming, the more APR will decrease. For SamORAI/BNB liquidity pool, we offer a fixed amount of 6,500 SamORAI tokens as farming rewards in 5 weeks.
Q: What is the initial price of the SamOrai token?
A: The initial price is $10 per SamORAI. We provide $25,000 in BNB for a pool of 2,500 SamORAI tokens.
Q: Why create a new token instead of using AIRI or ORAI? Are there any purposes outside staking for gallery? Do you have any buyback plan?
A: The easiest way to understand this is to think of aiRight’s Gallery and Farming as a “Launchpad for NFT artists”.
Each gallery showcases a different artistic culture and the tokenization of the gallery into a different token than ORAI or AIRI is necessary. The monetary value of the gallery token will be decided by its creator, its reputation via fundraising, and liquidity providing, not via ORAI or AIRI tokens.
Each gallery is tokenized into a fixed supply of 10,000 gallery tokens, and its creator decides how much the initial value of the gallery token is worth, then create a proper liquidity pool.
Oraichain team tokenizes the first gallery and creates a pool of SamORAI/BNB for it. Other users can fully use the Gallery and Farming functions later in June to create their own galleries and farming strategies.
Q: What are the benefits when holding SamOrai?
A: Holding an NFT from “The Warrior” gallery includes several benefits such as a lifetime discount (up to 100%) when using aiRight and AI requests, better APR of AIRI rewards for farming when the AIRI is listed. Holding SamORAI is to join the farming program for SamORAI/BNB liquidity mining.
Q: What are the utilities of SamORAI token?
A: SamORAI token or any future tokenizeable gallery tokens is a way to make non-fungible assets (NFTs) into fungible ones. Gallery token holders can use the tokens to obtain ownerships of non-fungible assets again.
Q: How are the rewards distributed and calculated?
A: We distribute the SamORAI rewards by a block unit to all farmers of the liquidity pool. The total of 6,500 SamORAI tokens, which is 65% of its supply, is evenly distributed in 5 weeks.
Q: How does the net worth of the token go up… Is that based on the buying and selling of the images in there?
A: There are two factors that would impact the net worth of the gallery token: (1) the reputation of the gallery or its creation via its artistic culture, (2) the value of the NFTs in the gallery, and (3) the incentive that farmers can yield.
Q: After 5 weeks of rewards, is there any more kind of benefit that liquidity providers can get?
A: After 5 weeks, the rewards for liquidiy providers is changed to be AIRI tokens.