CryptoHoots Tokenomics
The release of our utility token $TWIGS is a major step forward for the CryptoHoots ecosystem. Each Hoot is now earning 10 $TWIGS daily without having to stake or give up custody of their NFT.
Key Facts
- Hoots Earn 10 $TWIGS Daily
- Initial Airdrop of 300 $TWIGS per Hoot
- No Staking Required
- Burn $TWIGS for Breeding and Other Items
- Contract: 0x0d6851a390afd1b343fa26af172ab5df39814466
- Claim Page: https://www.cryptohoots.com/twigs
Design
Our token was designed to only have utility within the CryptoHoots ecosystem and has no monetary value.
1 $TWIG = 1 $TWIG
The token contract mints tokens to each Hoot and these are claimable through the smart contract and on our website.
There are no required actions to start earning $TWIGS and accumulated tokens are associated to the individual Hoot. This means Hoots that are purchased or traded can have an existing balance of $TWIGS that can be claimed.
Our decision to not require staking means that users can keep custody of their NFTs and still earn rewards. This follows existing models of other successful projects.
$TWIG Guides
Checking Balances and Claiming From our Webpage
Our claim page makes it easy to check and claim balances for all of your Hoots.
First head over to: https://www.cryptohoots.com/twigs
Connect your wallet.
Once connected you will see all of your Hoots and their balances!
Clicking Claim All will let you claim all of your $TWIGS in one transaction.
To claim for an individual Hoot click on the twig icon below the image.
You can also check the balance and claim the $TWIGS for the Hoots in your wallet directly through the smart contract.
Checking Token Balances via the Smart Contract
- Open the Read Contract tab.
- Go to getUnclaimedRewardAmount
- For _contractAddress (address) enter: 0x5754f44bC96F9F0Fe1a568253452a3F40F5e9F59 for the Steampunk Parliament or 0x196f7e9c5769fc777909a3f1b9bd65959f3f64fb for Alpha Parliament.
- For _tokenId (uint256) enter the token ID of the Hoot.
- Click Read Contract on the top of the page.
Note: The returned value will be a unit256. To convert it to a more readable number click on it and scroll down to Ether (1) in the Unit Converter popup.
This is showing a balance of 346 twigs.
You can view the Token ID of any Hoot on OpenSea under the details tab.
Claiming Tokens via the Smart Contract
If you want to claim your $TWIGS, head over write contract and click Connect to Web3 and follow the instructions in your wallet provider.
Once connected, go to either claimReward (for claiming from 1 hoot) or claimRewards (for claiming from multiple hoots at once) and input your token ids as well as the contract address for your hoots as listed above. Remember that you should separate your token IDs with a comma if using claimRewards. eg. 234, 654 would claim twigs from those 2 hoots
Finally, click on Write Contract and approve the transaction.
Importing $TWIGS into MetaMask
Go to custom token and paste this contract address: 0x0d6851a390afd1b343fa26af172ab5df39814466 click "Add Custom Token" and your twig balance will appear in the assets tab.
Tokenomics
Balancing token issuance with its burn rate is vital to maintaining healthy tokenomics. To accomplish this, we are making our breeding mechanic compelling and adding a number of additional items to act as token sinks.
Upcoming Token Shop Items
This is our initial list of items we will make available after the token launch. We are focusing on having breeding out by the end of November but will be adding the other items throughout the month when they are ready.
Hoot Card (10 $TWIGS): A collectable postcard or greeting card NFT featuring your Hoot(s). -
Name Change (100 $TWIGS): Name your Hoot something unique.
Bio (200 $TWIGS): Give your Hoot a backstory and help build out the CryptoHoots lore.
Twitter Banner (300 $TWIGS): Mint an NFT perfect for your Twitter and other social media banners. These can include your Hoots in unique steampunk scenes.
Hoot Tree (300 $TWIGS): A mintable NFTree that can hold up to 9 Hoots.
Feather (300 $TWIGS): An NFT sample of your Hoots DNA. Trade with friends or list for auction. Feathers are the only way single Hoots can breed and a great way for anyone to try and acquire rare genetics.
Egg (600 $TWIGS initially): The core breeding item. Two Hoots can produce an egg which can be traded or hatched. Each egg will contain a mix of the parents DNA. Hatched Baby Hoots will be based on this DNA and RNG.
Next Steps
We will be adding an easy way to enter a token id of any Hoot to check their $TWIGS balance. This will make it easier to check Hoots for $TWIGS before you buy. Until thats complete you can use the smart contract method above or ask us in our Discord.
Once breeding is launched we will be introducing the ability to grow babies into futuristic adults as part of our Cyberpunk Parliament which will also cost $TWIGS. This will act as an additional token burn mechanic and provide exciting new choices to our holders.
