MicroPets Announced a Massive Overhaul to Their Rewards System – QNT Press Release

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WASHINGTON, Feb. 15, 2022 (GLOBE NEWSWIRE) — MicroPets, one of the most popular crypto projects on Binance Smart Chain with over 68,000 holders, has announced a massive overhaul to their rewards system. Although the changes just rolled out, MicroPets has already experienced a 100%+ increase in their price within a short period.

Rewards Changes

Like nearly every NFT staking project out there, MicroPets rewarded its native asset ($PETS). Since inception the team had given out an estimated $10.5MM in rewards–That’s just three months! Despite the team hitting an all time high of $207 million, the selling pressure from rewards was a constant drain on the price.

The new rewards changes are a game changer and have been called genius by members within their own community. The team has dramatically limited rewards in $PETS tokens and instead gone with a completely different approach that combines NFT burning with BNB rewards.

The MicroPets team created two distinct pools: Unevolved and evolved. Investors who choose to receive $PETS rewards receive a tightly controlled quantity on a monthly basis. However, with the evolved pool, users receive BNB rewards in addition to the ability to buy $PETS tokens with BNB completely tax free. The result is a green wall that enables investors to dollar cost average their BNB rewards with a 0% buy tax while helping pump the chart at the same time.

Evolution

Knowing the NFT supply was high, the team incentivizes users to burn an NFT to begin the evolution process. Pairing an NFT with one of equal or higher rarity, the user burns one of the two and the NFT enters a 14 days incubation period. After , …

Full story available on Benzinga.com

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