13:1 Some T With Your Pokt
The enterprising team at Thunderhead dropped tPOKT on Saturday, a Polygon wrapped ERC-20 representative of native Pokt. The tPOKT token is backed by native Pokt tokens locked in staked nodes on Thunderhead’s node farms. Each block, if the staked nodes earn rewards, that value is rebased into the value of the tPOKT token, allowing for significant possible yields.
The tPOKT token is a Polygon smart contract, which means it can be swapped for any supported ERC-20 token on SushiSwap. The team advises that they will be airdropping bonus rewards to tPOKT holders, and plan to expand into liquidity pools and other options over time. There’s no programmatic peg of the tPOKT value to native Pokt value, instead relying on arbitrage to keep the pricing aligned. In my quick test, I was able to carve out between 3-8% profit in arbitrage with USDC depending on the size of the transaction.
13:2 From NFTease to NFPlease
I talked in the past about experimenting with NFTs, and I’m happy to announce that I’m working with an Australian team to launch a line of Pocket community inspired NFTs called Pocket Rockets. Net proceeds of the sales of the NFTs will be used to stake nodes on the Pocket Network, and holders will be eligible for monthly airdrops from minted rewards. I’m super happy with the artwork, and the collective mission to strengthen the network.
Oh, and did I mention the giveaways? The launch will feature $50,000 in $POKT giveaways to Rocket holders. Additionally, the Pocket Rockets team is building a space station in Decentraland for all those rockets to fly to, and feature giveaways in that space for holders. You can visit the website for more info on the team behind it, and our plans for the future.
Whitelisting will begin on February 20th, but you can get a head start now by joining the official Pocket Rockets Discord, and following the Pocket Rockets Twitter and Instagram. In the final 10 days before launch, we’ll be airdropping 2 NFTs per day to active community members selected from the whitelist. Active minting will start on March 4th, so get ready for take off!
13:3 Party With The Poktopus
Speaking of March 4th, I’ll be throwing a banger party in downtown St. Pete for the Pokt community in time with the Pocket Rocket launch. From 8PM to Midnight, we’ll have DJ Jaey dropping a beat, and feature live performances from Underground Cirque and Hoola Monsters. The event will be emceed by the inimitable CryptoKenzie, and offer free valet and an open bar from 8-10. During the party, we’ll be giving away 5K $POKT and 2 rare Pocket Rocket NFTs.
The party will be free admission, but invite only, and limited to 150 people. RSVPs are required. You may request an invite by filling out the form in this tweet:
I'm going to throw a bad ass Poktopus dance party with 150 of my closest friends in downtown St. Pete on 03/04. It will be free but invite only, and feature live entertainment, an open bar, $POKT giveaways, and an NFT drop. Want an invite? Request here: https://t.co/JL40gBfLg5 pic.twitter.com/MJG5anlelr
— The Poktopus 폭토푸스 | poktopus.eth🐙 (@thepoktopus) February 12, 2022
Invites will be sent out out February 18th, and must be RSVPed by February 25th.
The news this week has been filled with all sorts of craziness, but the business of web3 has continued unabated. While sociocultural and geopolitical conflicts rage, we continue to build. Even when the markets are topsy-turvy, we’re still working on the tech, and pushing forward a decentralized vision of the internet where everyone can play a part. I hope we never lose sight of that.
That’s all for this week. See you on Twitter.