Nice to meat you!

That wasn't very cleaver, was it?

As we step in to 2022, steaking is just around the corner. But first we want to give you a run-down on exactly what this means and the exclusive benefits it brings to Top Dog holders.

We don't build things just because it's what everybody else is doing. We strive to push boundaries and develop new creative ways to problems. We break them down into their core components and rebuild them in a way to maximize benefits and minimize downsides. But first...

What the hell is staking, anyway? 🥩

In the context of NFTs, the action of staking is to lock up your asset(s) in a smart contract. This means they no longer reside in your wallet and you can no longer transfer or sell them as they are not in your control until they are "un-staked" (returned to you).

But why? For exclusive benefits and rewards.

Typically, these rewards come in the form of an ERC-20 token to the staker. But in reality, they could be anything the project wanted. In return, the project has more of their assets delisted from the marketplace, theoretically creating a supply shock and raising the floor price.

Downsides of staking 📉

Gas, gas, even more gas, and the loss of utility. Each interaction that writes to the blockchain costs gas, and staking involves a LOT of interactions.

Take this purely theoretical (this isn't alpha..) scenario and just imagine having to pay all of this gas...

Scenario: You own 1 Top Dog and 1 Top Cat, and want to stake them for a-still-on-chain $SNAX, which is then used to mint 1 Top Shark...

1. Approve the staking contract to "spend" your Top Dog
2. Approve the staking contract to "spend" your Top Cat
3. Stake the Top Dog
4. Stake the Top Cat
5. Claim your $SNAX
6. Unstake your Top Dog
7. Unstake your Top Cat
8. Approve the minting contract to spend your $SNAX
9. Mint Top Shark

This will cost you around ~$300 in gas on a good day. Gross. 🤢

So what is pseudo-staking?

"Pseudo-": Used to mark something that superficially appears to be one thing, but is something else.

Pseudo-staking, as we've come to call it internally, is essentially our way of providing the benefits (increased $SNAX) without the downside of paying stupid amounts of gas or loss of utility.

With our method, you only need to have your asset delisted from the marketplace in order to be eligible. You don't need to stake, you don't need to claim, and you don't need to unstake. You get the rewards with no downside.

That's not all... 📈

Pseudo-staking is just ONE part of an overall strategy we are putting in place to incentivize certain actions and reward our holders with $SNAX. Soon, your $SNAX income will be categorized in the following ways:

1. BASE 🚀

   • Earned per token just by holding
   • 10 $SNAX per day

2. DIAMOND PAWS 💎

   • Earned per token that is delisted from OpenSea
   • 10 $SNAX per day
   • Extra bonus 20% if ALL of your tokens are delisted

3. VIP PAIRS 🐶🐱

   • Earned for each VIP Pair
     • Pairs are simply 1 Cat and 1 Dog, they don't need matching token IDs
     • i.e. Owning 5 Cats and 3 Dogs means you have 3 Pairs
   • 5 $SNAX per day per pair

4. PACK MEMBERSHIP ⚔️

   • Earned by the user (regardless of how many tokens you own)
   • Based on the USERS pack (i.e. what you pick in the Beach Club and have as your Discord role)
   • 5,000 $SNAX per day for each pack, split between all of its members
     • This will incentivise people to join packs and aim for an even distribution
     • i.e. If Tailblazers have 100 members each will get 50 $SNAX per day, if Hot Dogs have 200 members they will only get 25 $SNAX.

5. TOP DOG TAGS 🏷

   • Earned for each opened Top Dog Tag you own
   • 10 $SNAX per day

6. GAMEZONE 🎮

   • Earned by active participation in our digging game, Flappy Dog, and PawZone.
     • Already in place but will be tracked in the same dashboard

That's a lot of $SNAX. I wonder what you could spend them on? 🤔

We will also be implementing extra bonuses based on the last 3 unused attributes! Finally, being friendly will get you somewhere in life.

Wen 📅

Within the next couple of days so keep an eye out on our Discord.

What's Next? 💲

With our $SNAX distribution strategy taking shape, Q1 2022 will focus largely on increasing the value of $SNAX through the marketplace via exclusive partnerships, drops, mints, whitelisting opportunities, and community contributions.

We will also start to actively invest into other projects via our business wallet, i.e., if we minted 10 Gutter Cat Gang, flipped 3 to recover our initial outlay, hold on to 2 for the business, and sold the remaining 5 through the $SNAX store.