Bridge Mutual Platform launched on the 9th of July with a Coverage Mining Event designed to last until the 23rd of July. The event includes a team-based competition centered around providing the largest amount of liquidity by any team and individual. Apart from an extra pool of 450,000 BMI tokens dedicated towards the top ten teams, the largest individual contributors and team members were promised utility NFTs that unlock special benefits within the Bridge Mutual platform.
- NFTs were arranged into 4 categories: PLATINUM, GOLD, SILVER, and BRONZE.
- The top 5 contributors of the entire event, regardless of the team, shall receive PLATINUM NFTS.
- The top 10 contributors in each top team will get, respectively:
- 1 GOLD NFT
- 3 SILVER NFTs
- 6 BRONZE NFTs
Bridge Mutual NFTs were created as a result of the teamwork between Bridge Mutual and SuperFarm. Each of the NFTs will be accompanied by amazing art created by the SuperFarm artists themselves.
Today, we’re happy to announce the utility of those NFTs within the Bridge Mutual Platform.
- Platinum NFT — reduce the Premium price (cost of coverage) by 15%
- Gold NFT — reduce the Premium price (cost of coverage) by 10%
- Silver NFT — 20% boost on LP staking rewards
- Bronze NFT — 10% boost on LP staking rewards
Same bonuses do not stack. E.g. if you have a PLATINUM and GOLD NFT, only the larger bonus is valued (e.g. 15% reduction). However, you can benefit from different bonuses (e.g. GOLD and SILVER NFT).
The rewards activate only AFTER the user locks the NFT in the NFT contract.
After the NFT is locked, it cannot be unlocked.
The possibility for the NFTs holders to use them within the Bridge Mutual platform will come within Q3 2021 — the NFTs have a profound impact on the Bridge Mutual ecosystem and their implementation requires ample testing.
As previously announced, the NFTs are trade-able on the secondary market and can be used to enhance one’s portfolio strategy — either for purchasing larger coverage or increasing one’s staking positions.
The NFTs are granted to the largest contributors during Bridge Mutual’s Coverage Mining Event which is still ongoing — almost 6 million in BMI tokens shall be distributed to participants over the course of 14 days — we highly encourage everyone to join!
SuperFarm is the next generation of NFT infrastructure living at the intersection of DeFi, Gaming, and Non-fungible Tokens. SuperFarm is designed to bring utility to any token by turning it into an NFT farm with no code required. Any project looking to leverage the power of NFTs can find utility in the SuperFarm toolkit.
SuperFarm provides a bridge between current crypto ecosystems and the explosive gaming
About Bridge Mutual
Bridge Mutual is a decentralized, p2p/p2b discretionary risk coverage platform that provides coverage for stablecoins, centralized exchanges, and smart contracts. Its platform allows users to provide coverage, decide on policy payouts, as well as share profit and get compensated for adjudicating claims.