The NudesToken team has launched its single-sided staking feature, entitled the “Nudes Boomer Single-Stake Fund.” The Boomer Fund allows users to stake NEP-17 NUDES tokens and earn yield (in NUDES) from fees derived from the use of the Nudes.Army meme platform.
Nudes.Army is a “meme-to-earn” website that offers a platform for users to submit meme content and receive rewards in return for upvotes from other users. Likewise, users can spend NUDES to downvote meme content submissions. However, the downvoted meme creator will not receive any of these tokens, as 80% of the NUDES used to downvote are burnt and the other 20% sent to the Boomer Fund. The Boomer Fund will also accumulate yield from various activities on the meme-to-earn website. They include:
- 5% of the total NUDES supply over the next 15 years
- 15% of all fees generated from Nudes Army NFT resale royalties
- 20% of all fees generated from meme creation on Nudes.Army
- 20% of all fees generated from upvoting and downvoting on Nudes.Army
- 20% of all fees generated from commenting on memes on Nudes.Army
- 20% of all fees generated from advertisements on Nudes.Army
When depositing NUDES into the Boomer Fund, the user will receive “LAMBO” tokens, proportionate to the share of the fund the user owns. The “yield” derived from fees and minting rewards isn’t claimable by the user. Instead, it gets distributed to the entire Boomer Fund and is realized as an increased NUDES position when exiting the fund.
The number of “shares,” represented by LAMBO tokens, held by the user determines the percentage of rewards they receive from the Boomer Fund upon exiting the position. There is a 0.5% exit fee, which was designed to discourage short-term speculation and potential exploitation.
The full announcement can be found at the link below: