Barcelona, Spain, March 8, 2022 (GLOBE NEWSWIRE)-(via Blockchain Wire) Potion Labs, the developer of the new risk management layer Potion Protocol, has announced the launch of the Potion Unlock NFT auction. Those who purchase NFTs at auction can participate in potion unlocking games and collaborate with other community members to release the potion protocol to the public domain. With this unique strategy based on “active decentralization,” Potion Labs aims to avoid the dangers of traditional project launches and maximize community involvement.
The game mechanics is simple. The entire project code base is stored in IPFS and is protected by a strong password. This password is divided into segments of various lengths and distributed to 10,000 unique NFTs.
Participants must work together to put together a sufficient number of pieces for the code to finally be decrypted and published. The game itself is completely open-ended. Players need to self-adjust without inputting Potion Labs to find their own solution to the problem.
When the protocol file is decrypted and released to the public domain, a community with “in-game skins” and web3 manipulation capabilities is formed. This community will have power and control over the future of the Potion Protocol as a public good.
How can players participate in the potion unlock game?
Most of the Potion NFTs will be on sale to the public through the Dutch Potion NFT Auction from March 14th to February 28th, with the participation of well-known DeFi and NFT participants. The whitelist has already been published.
To strengthen the participating community, two Potion NFT rarities (Kelly Knights and Wise Wizards) were already distributed in January last year through a $ 12 million private sale. These are prominent DeFi players such as Polychain, Placeholder, Maven 11, Pantera, LAO, MetaCartel, Parafi, Spartan, Robert Leshner, Fernando Martinelli, Synthetix Founder, Crypto Plaza, Roble VC, CULTUR3, Lemniscap, Zee, beToken. Purchased by. Especially capital.
Finally, Potion’s early community members (OG or Original Gangsters) were also recognized for their early community support and inspiration, and were generously assigned Potion OGN FT for free. A number of OG NFTs have been provided to 1,000 key members of the prominent DAO in the form of airdrops with the aim of building a quality community around the project.
What is the symbolism of potion NFT design?
The Potion Unlock NFT commemorates the release of the lab’s Kelly machine and its significant technological advance in integration into the Kelly criterion coupling curve. To celebrate this, each NFT represents a symbolically and artistically different insurance policy. Each NFT uses a variety of distinctive artifacts to represent specific parameters of an insurance policy.
The NFT collection, consisting of 10,000 unique works, embodies one of the first artistic renderings of financial instruments and provides a dictionary of Kelly’s criteria join curves. Importantly, Potion NFTs are digital collectibles, not financial products. Only the original NFT Minter can participate in the potion unlock game.
What is Potion NFT Rarity?
There are 6 NFT types or “rareities” in the game, each with a different “decoding ability”, giving different players different abilities and abilities. Each NFT rarity also has a different level of “redundancy”, so a single owner cannot block game resolution.
What is the motive behind the project?
PotionLabs is trying to reach some goals with this launch model. The developers have a deep belief in decentralization and designed Potion Unlock to transfer control of the Potion Protocol to the community. In this way, this approach achieves “active decentralization”, avoiding the concentration of power in the hands of a small number of people, and ensuring that it is instead distributed throughout the community.
This form of protocol release also aims to create a commercially viable way for Potion Labs to continue to fund research work while operating within clear regulatory guidelines. PotionLabs hopes this new release model will be useful for other Web3 projects as well.
What does the team have to say?
“We are excited to introduce a new class of services that the community has built for the community from scratch,” said Guillem Mosquera, co-founder and CTO of Potion Labs.
“We are deeply grateful to the community around the project that has decided to support our vision and team. We are experimenting with a new approach to open source development for web3 and we We are fortunate to have a visionary community that is willing to promote and support our quest. We are excited to continue to play an important role in the project community, “said Potion Labs co-founder and co-founder. CEO Jordi Muñoz said.
“It’s very sophisticated on the back end and surprisingly simple on the front end. Potion is leading a new era of DeFi Liquidity Provider (LP) and consumer risk management. With KellyCriterion, Potion allows LPs to optimize the price of options according to their desired risk. Then, by aggregating all individual LP curves, Potion provides consumers with the best priced options. When people say DeFi 2.0, Potion is at the top of the list, “says Placeholder partner Chris Burniske.
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About Potion Lab
PotionLabs is a Web3 native research and software development company that developed the Potion Protocol, a robust risk management layer for crypto assets. This opens up a new risk pricing model based on the Kelly criterion, providing mathematical expectations for LP’s long-term survival and a deeper, more reliable liquidity market for users. The release of the protocol code will begin shortly through the Potion NFT Unlock game. Click here for details on Potion.Finance: https: //potion.fi & https: //potion.auction
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