DeFi

MaidCoin Merging NFT Collecting with DeFi

maidcoin maid nurse NFTs DeFi token yield farm

MaidCoin is an upcoming DeFi project with elements of NFT collecting and gamification. Above all it taps into gaming culture as the entire ecosystem uses anime, NFT collecting and gamified DeFi. MaidCoin allows NFT holders to earn passive income simply from holding these assets in their wallet.

In essence we don’t write a lot about DeFi, unless it taps into gaming. In the past we’ve talked about DungeonSwap, and regularly we dive into tokenomics and governance tokens. With the rise of blockchain technology, DeFi is paving the way for a new future of finance. Essentially every game that uses its own token, will become part of DeFi one way or the other.

That’s why it’s interesting to talk about projects like MaidCoin. In the gamified DeFi platform users can yield farm $MAID tokens simply by holding Nurse NFTs. However, what’s interesting is the road towards getting one of those NFTs. That’s where the gamification of DeFi and NFT collecting come into play.

Maids and Nurses on SushiSwap

This month MaidCoin will launch its $MAID token. They will initially sell a total of 30,000 MAID to the market. Users will need $MAID tokens to join passive raids, which will give players a NursePart NFT after 1 to 3 days. By combining predefined NursePart NFTs, users can create a Nurse NFT. That’s the goal, because these Nurse NFTs generate passive income, paid in $MAID tokens. NFT holders don’t need to stake, as the Nurse NFTs automatically yield farm MAID tokens into their owner’s wallet.

In August MaidCoin will also sell 24 Maid NFTs on Ethereum and 6 on Polygon. These are very rare and powerful NFTs in the MaidCoin ecosystem. These Maid NFTs make it easier to generate Nurse NFTs. All those NFTs, each of them following the ERC-721 standard, will be sold on the upcoming SushiSwap NFT marketplace, Shoyu.

Nurse NFTs come in different rarities and with different powers. Some Nurse NFTs will deliver more yield then others. As a result some will become more wanted then others as well. Their APR or ability to yield farm $MAID tokens, will influence their rarity and therefore their value.

Liquidity providing to earn MAID

Like any DeFi platform, MaidCoin also allows users to earn $MAID tokens without owning NFTs. Users who provide liquidity in the MAID-wETH LP pool on SushiSwap, can earn passive income paid in $MAID. They will only need to stake their liquidity pool tokens (LP tokens).

For the uninitiated, when you provide liquidity you put equal shares of value from two tokens in a pool. In this case you could put $100 worth of WETH and $100 of $MAID together in a LP pool. You will receive LP tokens representing the value you put in it. Based on how much impact your share has on the total supply of the pool, you will earn a bigger or smaller percentage of the distributed $MAID tokens.

Here’s where things get even more interesting. As not everybody will be able to enjoy the pleasure of owning a Nurse NFT, let alone a Maid NFT, there’s another way to enjoy passive income. Users who add liquidity to the LP pool, can stake their LP tokens to a Nurse NFT. They will then receive a portion of the newly minted $MAID every block. This means that every Nurse NFT basically becomes a yield farm on its own!

What’s the gaming element

Similar to what we see with plenty of digital collectibles on for example Wax, the gaming element is hidden in collecting. MaidCoin doesn’t offer gameplay in the traditional sense. However, users can use their MAID tokens to acquire NurseParts. Finding the right NursePart NFTs will allow them to create a nurse, which they can then use to earn passive income. They can then either sell those nurses for profit, or grew their army of nurses for more passive income.

In a similar fashion projects like Street Fighter, allow users to make their NFTs more valuable by merging them. NFTs are becoming part of DeFi. Games are becoming online economies. DeFi is becoming a game.

You can follow MaidCoin on Twitter or Telegram.

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