What is GM:FRENS?
GM:FRENS is the first ever cross-blockchain social NFT project built on the HIVE & WAX blockchains, launched on Threads. It was launched a little over 4 months ago as nothing more than a token that could be mined using the #gmfrens tag on Threads. Over the past 4 months, the project has evolved more than I ever thought it would. GM:FRENS went from social token to social DeFi & NFT project pretty quickly, and has gotten an overwhelming amount of support from the LeoFinance community. Currently, there are over 200 users that have mined GM at least once, there have been 1292 NFTs minted, and we've gotten official verification on NeftyBlocks & AtomicHub. This is still just the beginning, but boy it has been a wild ride so far.
When you dive into the GM:FRENS project, you will find all sorts of weirdness. We have NFT staking for GM mining, NFT blending, and much more! At the end of the day, the ultimate goal of the project is to encourage engagement between community members. Even if that engagement is as simple as just saying GM. That small statement is very powerful, and it's a universal language. I dunno about you, but when someone says Good Morning to me, I smile at least a little bit. You can literally earn crypto by making people smile. So, without further ado, I present to you... The GM:PAPER v2.
I know, that was a lot to take in. Let me break it down for you.
GM Token
The GM token is the heart of the project. It's a social token that can be earned in a number of ways such as using the #gmfrens tag on Threads. This requires users to visit the Official website and register their WAX wallet. It can also be mined by staking NFTs in one of the Farms. GM can be traded on the Alcor Exchange, which is a decentralized exchange for WAX assets. There is currently only one trading pair, and that's GM/WAX. This means that you can instantly swap WAX for GM and vice versa. There's currently around 5900 WAX & 430,000 GM in the pool, and it's growing every day. This presents the opportunity for users to add liquidity to the pool to earn on trading fees as well, so if you support the project... Please consider adding some liquidity to the GM/WAX pool. Of course, the general rules of providing liquidity apply, so if you don't understand impermanent loss you should do some research first. The supply started at 69,420,000 and it is being reduced every day with burns from unregistered uses of the tag on threads and blending revenue.
GM:Miner NFTs
The first iteration of GM:FRENS NFTs was the GM:Miner set. This is a collection of super rare NFTs that can be staked on WAXDAO to earn GM passively. There were 3 different GM:Miner NFTs that could each be obtained in different ways, such as blending other NFTs. Early supporters were able to get their hands on the GM:Miner v0.1 & GM:Miner v0.2 NFTs very easily. The GM:MiniMiner came along as the first NFT you had to blend other NFTs & GM to get. It is also the most powerful Miner NFT because it has a fixed mining rate, instead of shared mining pool rewards like the other 2. Don't worry if you missed out on the initial launch of GM:Miner NFTs, as there will be new versions coming out in the future. This is just the 1st Edition set.
NFT Staking
People talk about staking their crypto tokens all the time, like HIVE and LEO tokens. This is where you take your tokens and lock them up for a period of time for whatever reason, be it to get voting power or earn an APR on those assets. Most people have no idea that you can do the same thing with some of your NFTs. With the GM:Miner NFTs, you can stake them in different farms to earn GM passively. Each farm has different locking periods, different NFTs, and different rewards mechanics. So instead of letting that shiny NFT sit in your wallet and collect dust, go ahead and throw it into one of our NFT staking farms. There will be more in the future with the launch of v2 Farms on WAXDAO. Congratulations to all those that got in on the genesis farms, as you have a huge advantage for GM:Cards. (currently experimenting with new farms).
GM:Blending
NFT blending is something that a lot of people have never heard of. It's pretty simple. With the introduction of GM:Blending, people were able to take their airdropped GM:HALLOWXXN NFTs and blend them for a GM:MiniMiner NFT. How does this work? Well, you essentially just burn the NFTs and receive a new one. Now that we have been verified on NeftyBlocks, this can be done straight on the GM:FRENS collection page, instead of having to go to a separate website. The process is super easy because the interface will automatically select the appropriate NFTs & tokens for you. All you have to do is have the appropriate assets in your wallet. There are Blends live right now for the GM:Cards Boost set, which boost your GM mining on Threads when using the #gmfrens tag as long as they are held. (non-custodial staking coming soon).
GM:Cards
The latest NFT set released for GM:FRENS is the GM:Cards Boost set. This set of NFTs can only be obtained by blending NFTs & GM. Holding a GM:Boost NFT will boost the amount of GM you mine on a daily basis as long as you hold the NFT. This is the first time that users will be able to increase the amount of GM they mine every day using the #gmfrens tag. Normally, you mine 6.9 GM per Thread per day, but now you have the opportunity to boost that by a factor of up to 2.5x. The blends are live and people are racing to be the first to get to the elusive GM:MegaBoost card. You're going to need a ton of GM & a ton of NFTs, so get to blending! Who will be the first brave warrior to blend their way to the top and become GM:FRENS royalty?
2023 is Gunna be Even More Weird.
I hope I've gotten everything into one single pager instead of a ton of different posts/links. I realize that previously it could be a little confusing to understand the project and find where to go to do what. This is the solution to that, and the next step is making some changes to the website. GM:Cards took a lot of work and long hours of planning, so it is the focus at the moment. We want to get as many of these NFTs into as many wallets as possible. We're working on a lot of cool shit, so stay tuned frens.
Have a GM
Captain Howdy, Overlord
Thanks for reading! Much love.
Wanna learn about all kinds of things you can do with the crypto you earn blogging on Hive? Check out my index - Learn Crypto Stuff for some fun educational crypto stuff.
Posted Using LeoFinance Beta
