Introduction
Time is running fast. We have been working hard for the last 6 months to develop RadRugs and improve our business to better serve the NFT community and create value for our holders.
With the launch of our NFT collection staking and token, we unleashed a new universe of possibilities.
As we focus on creating value, innovating and improving our tools, we wanted our SAFE token to play a vital role in our application ecosystem.
Subscription Model
As part of this growing value creation process, we are proud to introduce the new RadRugs subscription model!
This new subscription model is built around our SAFE token. Our goal is to provide real utility to people staking our NFTs and let them discover the value of our application and how easy it is to access valuable information to do their research.
Premium Access
When we first launched our application, it was required to have a minimum of 3 RadRugs NFTs in the user’s wallet to access all the perks of our premium access and detailed reviews.
With the launch of our staking platform, this changed to having a minimum of 3 staked RadRugs NFTs.
The amount of SAFE earned is determined by the rarity of the rug being staked.
| Supply | Multiplier | $SAFE/Week | |
| Common | 2,222 | 1 | 70 |
| Uncommon | 1,389 | 1.25 | 87.5 |
| Rare | 1,111 | 1.5 | 105 |
| Epic | 556 | 1.75 | 122.5 |
| Legendary | 222 | 2 | 140 |
| Mythic | 55 | 2.5 | 175 |
Starting now, the Premium access will only be available through our subscription model.
Costs & Payments
The user will have two payment options to subscribe to the Premium access: SAFE and SOL.
The payment can be made weekly or monthly. If paid monthly, a discount is applied to the total price.
Here is the cost of the subscription to our Premium version:
- 15 USD / week
- 50 USD / month
SAFE
Since our mint, we made it clear that people who bought 3 RadRugs would have unlimited access to the Premium version of our app. This won’t change with this new subscription model.
We made sure that the cost to access the Premium version was equal to the amount of SAFE earned by staking 3 common rugs:
3 common rugs x 70 SAFE / week = 210 SAFE / week
Basically, we retrieve the current USD price of the SAFE token and calculate how many SAFE tokens are required to reach the USD value of the subscription.
IMPORTANT: Since our token is not listed on any DEX with Liquidity Pool, for now, we have fixed the subscription price to 210 SAFE / week and 700 SAFE / month for everyone. The cost will be calculated dynamically once SAFE is listed on a DEX with LP.
To encourage people to pay in SAFE tokens, we have implemented these rules:
- A 15% discount is applied to the price in SAFE
- If someone is staking 3 RadRugs NFTs or more, he will never pay more than 210 SAFE / week or 700 SAFE / month
SOL
We have also implemented a Solana payment option.
Basically, we retrieve the current price of SOL in USD from CoinMarketCap’s API and calculate the amount of SOL needed to reach the USD value of the subscription.
Discount Code
As you might know, we are big fans of partnerships and collaboration within the space! This is why we have implemented a discount code feature that will allow us to create custom codes for our partners that they will be able to share with their communities and get some discount.
Psssttt… if you’d like to partner up with us, reach out to us on Discord and open a support ticket.
Examples
Here are some examples to help you better understand how this works.
Scenario 1
- The user has 0 staked RadRugs NFTs
- He picks a weekly subscription paid in SAFE
- 15 USD = 510 SAFE – 15% discount = 433.5 SAFE
Scenario 2
- The user has 2 staked RadRugs NFTs
- He picks a monthly subscription paid in SAFE
- 50 USD = 2,000 SAFE – 15% discount = 1,700 SAFE
Scenario 3
- The user has 3 staked RadRugs NFTs
- He picks a monthly subscription paid in SAFE
- 50 USD = 2,000 SAFE – 15% discount = 1,700 SAFE
- Since he is staking 3 RadRugs NFTs, he is only paying 700 SAFE
Scenario 4
- The user has 3 staked RadRugs NFTs
- He picks a weekly subscription paid in SOL
- 15 USD = 0.6 SOL (no discount because he is not paying in SAFE)
Profile Page
Since we wanted the user to be able to check his current subscription plan and transaction history, we implemented a new Profile page.
We want to implement other cool features around this profile page, such as changing the username and profile image. It could also be used for gamification of the app and to improve the user experience.
Conclusion
We hope you enjoy this new feature. We believe it will bring many benefits to our current holders and strengthen our business model.
Don’t hesitate to give us feedback on Discord or by email so that we can improve!
Best, Hollyghan.
PS. Let’s get to know each other better. Add me on Twitter: https://twitter.com/hollyghan