$HONEY is the dawn of the NFT 2.0 era — what’s next for the Fancy Bears?
In November, together with Bartek, we had the idea to launch our own PFP NFT project. We wanted to create unique artwork with many utilities and solid fundamentals, something we would be proud of and something where we’ll be able to utilize all of our resources, network, and experience. And then, after months of hard work, we succeeded. This was when the Fancy Bears Metaverse was born.
But now, we think bigger. Earth is no longer the final frontier. We aim for the moon or even the Milky Way! Because now, we plan to revolutionize the whole NFT space.
This is why we modified and expanded the system of Honey Jars that we announced a couple of weeks ago.
We call it the NFT 2.0 — or GamFi — and it combines ERC721 and ERC20, Gaming, and DeFi.
First of all, we are introducing $HONEY.
A long, long time ago, Fancy Bears lived altogether in the Fancy Paradise Valley full of Honey, Bees, Apiaries, together with many Fancy Forest Friends. After the good times came the bad times. A huge thunderstorm that lasted for a 1000 days destroyed large parts of the Bear Paradise. Bears were scattered, Bees flew away, Apiaries were damaged, and nothing was the same after the rain ended. Bears hid in their caves, frightened and heartbroken. But for how long can you mourn the past? It’s time to rebuild the Valley. It all starts, as always when it comes to bears, with honey…
$HONEY is a tradable, deflationary, utility, Fancy Bears Metaverse native, Ethereum Mainnet ERC20 token. It will be used and distributed among the Fancy Bears community, but it will thrive inside the whole NFT world. Fancy Bears community is the first to get access to it.
We will add liquidity and list the token on Uniswap this month. 50% tokens will be distributed to the Bears and Jars, 5% will go for liquidity, partners, and reserve, and 45% will be farmable in the future. We won’t be pre-selling any tokens. The listing price of $HONEY will be 0.01$.
We’re going to airdrop the token (you’ll have to claim it) and every Bear and every Honey Jar will carry a set amount of $HONEY. The distribution of Honey Jars will be the same as we already announced.
Every Bear will allow you to claim 142 000 $HONEY tokens equal to 1420 USD (listing price) or around 0,46 ETH. Every Jar will get you 71 000 $HONEY tokens, equivalent to 710 USD or about 0,24 ETH.
It means that we’re giving away 0.7 ETH per Fancy Bear on average! The floor sitting at 0.43 ETH (9.02 8 PM CET) may seem a bit awkward now. And we didn’t mention $HONEY farming yet…
How much $HONEY you’re going to get? You can calculate it quickly below:
$HONEY airdrop will be claimable only by the Bears and Jars holders. The ERC721 tokens (NFTs) can serve as specific keys to open only particular doors. They are the safest and most convenient way to distribute value in the Web3 world.
Honey Jars will not be disappearing after you use them to claim $HONEY; they will play an essential role in the system. The original rules and idea remain almost the same as in the Honey Jar Medium article.
You will be able to unlock and claim the Honey Jars only if you hold at least one Bear, starting on day 0 (28th February). The Honey Jar claiming period will last for 2 weeks, until 13th March. Afterward, all the $HONEY tokens will be put in the vesting contracts. The breakdown remains the same:
- One Fancy Bear — gets you one Honey Jar
- Two Fancy Bears — get you three Honey Jars
- Three Fancy Bears — get you five Honey Jars
- Four Fancy Bears — get you seven Honey Jars
- Five Fancy Bears —get you ten Honey Jars
- Every next Bear — gets you two additional Honey Jars
The more you own, the more you get! The more you get, the more opportunities and available modifications await your collection. What’s worth mentioning, every Fancy Bear will carry the information (visible on OpenSea) if it was already used to claim the Honey Jars. And every Honey Jar will also have this information — if it was used to claim the $HONEY tokens (and these can be claimed only once), you’d be able to see it in the properties section.
It means that after the airdrop, you’re going to be able to hunt (maybe not literally…) for Fancy Bears that still carry the Honey Jars (and sweet $HONEY inside). It’s also important to say that consequently, the above breakdown will still be valid if you buy Bears after 28th February— if you already own 5 other Fancy Bears, when you buy number 6, you are eligible to claim 2 Honey Jars. The rule is simple — they didn’t claim their Jars before you purchased them.
We have also set some specific rules for the unlock. You’ll be able to unstake your first $HONEY tokens 6 months after you claim the Honey Jars. The total unlock period afterward will last for the next 18 months. $HONEY tokens will be available for claiming proportionally, every single week.
Remember, vested $HONEY tokens will be claimable with the NFT only. If you sell your NFT, you won’t be able to claim the tokens it unlocks. Someone else will claim them instead. Of course, you can spend your vested $HONEY before you sell the Jar — or the Bear.
That’s when it comes to cashing $HONEY directly into your wallet. In the meantime, you’re going to be allowed to use it (that is: the staked $HONEY) in all the ways we specified in the original article:
A. You will be allowed to modify the look of your Fancy Bear.
B. We will create some new features.
C. New Bear-related NFT collections.
D. Main role in the animation series for your Bear so he can become a Bearflix star.
E. One of a kind customized clothes and shoes.
$HONEY tokens you spend on any of the above will partially go to the liquidity pool, partially to the team wallet, partially to the farming pool, and partly they will be burned.
We will create a dedicated landing page (Web3 DApp) with several functions. Minting Jars will be just one button, the same as the Bears minting website. Claiming $Honey will be just one button as well, and you’ll be able to claim it separately for each NFT you own. We’re going to display:
A. Balance of $HONEY.
B. Balance of vested $HONEY (with a timeline).
C. Balance of unclaimed $HONEY per selected NFT.
The second part of the DApp will allow you to select your Bear's new, cool features — both the old ones and the new ones that we’re yet going to present.
In the next few weeks, we will introduce the farming system where you stake Bears, Jars (and new NFTs that we will introduce very soon) to farm more $HONEY. Honey Jars and Bears will have a limited capacity, and the farming contract will impose it — when you have too little Jars / too much Honey, you won’t be able to manufacture anymore.
What is more — and this is why we call it the Phase II of our NFT 2.0 revolution, once you invest $HONEY in your Fancy Bear, it’s going to be visible on OpenSea, and the Bear will be capable of harvesting more $HONEY after we introduce the farming system (1–2Q 2022).
The more $HONEY you spend, the more $HONEY you get afterward. $HONEY will increase the value of your Fancy Bear and allow you to improve it even more with the $HONEY you’re going to harvest.
Invest $HONEY in your Bear — but don’t worry that you’re going to lose your tokens forever. They will come back after your put your Bear to work.
More Honey Jars will be available for minting in the future as prizes in different contests and challenges. Please remember that we only airdrop half of the $HONEY tokens; 45% of the total supply waits to be harvested. And all the $HONEY spent on upgrades, mints, events, merch — it’s going to be partially redistributed into the harvesting pool.
To be announced…
What we achieved in the past month was only the Prologue Phase. In the next few weeks, we will enter Phase I, where the NFT 2.0 idea will begin its implementation. After Phase II, the whole combination of ERC721, ERC20, DeFi, and gaming, combined with the fantastic community and Fancy Bears culture, will allow us to enter the new era of NFTs.
NFT 2.0 is a revolution for the whole NFT space, and we’re super excited to bring it to the Fancy Bears community first. It’s a new beginning for all of us.
Maybe the Bears will reclaim their Valley and make it their Paradise again. The future lies in your hands and your hands only.