Discover how Typus Finance's Tails by Typus NFTs are leveling up DeFi by adding characters and perks that evolve through user engagement.
In the complex world of DeFi, filled with terms like puts, calls, and spreads, it's not always easy to engage users and make the journey exciting. However, Typus Finance has cracked the code by introducing dynamic NFTs through their Tails by Typus NFT collection. These NFTs give users a unique character that evolves visually and unlocks new benefits as they actively participate in the Typus platform.
Typus Finance's mission with the Tails by Typus NFT collection is clear: to establish a fully on-chain user incentive system that keeps users engaged and rewarded.
The Typus Finance platform supports a range of automated options like call, put, and call spread vaults, featuring assets such as SUI, CETUS, WETH, WBTC, and USDC.
Partnering with Studio Mirai, Typus Finance has created 6,666 dynamic NFTs for their loyalty program. Early in September, users will have the opportunity to mint these NFTs for free, exclusively through the Typus website. What makes these NFTs special is their ability to evolve in appearance and grant users perks, including rebates, as they level up through various activities on the Typus platform.
The Rewarding World of Dynamic NFTs
At the core of this innovation is the Sui Move programming language, which allows developers to design NFTs that can evolve based on events or triggers. When combined with the Sui network's support for on-chain assets, Typus Finance has gamified the user experience. Users gain experience points as they explore different features of the platform, much like leveling up in a role-playing game.
Caption: Starting at its base level, the Tails by Typus dynamic NFT resembles a small dragon with wings, a spiky tail, and horns.
Sui's architecture provides two fundamental properties that enable Typus' approach. Firstly, NFTs are treated as objects, the basic storage unit on the Sui network. This allows developers to use the Sui Move programming language to imbue NFTs with diverse properties and behaviors, essentially making them owned digital assets that users can find in their wallets.
The second key feature is that Sui allows for on-chain storage of NFT images. This means that the NFT images themselves are stored securely on the blockchain, eliminating the need for Typus to maintain separate servers for these images and ensuring their long-term availability to the NFT owners.
Typus explains, "Sui's ability to keep metadata on-chain allows NFTs to become stateful, dynamic on-chain applications within Sui."
Earning Experience Points
Users participating in this loyalty program accumulate experience points for their NFTs by engaging in various Typus platform activities. Typus will provide detailed information about the actions and experience points on their website. These activities may involve placing deposits in different option vaults or participating in auctions. As users level up their NFTs, they'll witness visual transformations, with attributes such as different pupils, horns, and hair.
More than just visual changes, higher levels also come with practical benefits like fee rebates, royalty shares, and token airdrops.
From a programming perspective, Typus triggers an event for each user when they perform an action on the Typus platform. This event contributes to the user's NFT experience count. Upon reaching specific thresholds or levels, the programming triggers events that alter the NFT's appearance and grant users perks.
Caption: At level 7, the Tails by Typus NFT gains curly horns, scruffy hair, and slit pupils.
Leveraging Sui's Features
Typus harnessed two additional features of the Sui network to make this loyalty program a success: sponsored transactions and the Kiosk primitive. Sponsored transactions are part of a suite of features that reduce the barriers for new users. Typus covers the cost of minting the Tails by Typus NFTs, allowing participants to obtain them for free, without gas fees (although they'll need a wallet address).
The Kiosk primitive on Sui provided Typus with the tools necessary to create a digital storefront where participants can claim their NFTs. This digital storefront capability streamlines the distribution of NFTs and enforces the specific policies of the loyalty program.
Unlocking Loyalty's Potential
Thanks to their composable and dynamic nature, NFTs on Sui are a perfect fit for loyalty programs, as demonstrated by Typus. They function as redeemable tickets that transform to reflect the user's state or achievements. What sets Sui's ownership model apart is that users can access all their digital assets, representing various achievements and programs, in one place - their digital wallet. This adds a new dimension to loyalty programs, simplifying the user experience.
In conclusion, Typus Finance's Tails by Typus NFTs are breathing life into DeFi by adding a captivating layer of interactivity and rewards. By embracing the power of dynamic NFTs and the capabilities of the Sui network, Typus Finance has not only enhanced the user experience but also set a new standard for engagement and loyalty in the world of decentralized finance. As blockchain technology continues to evolve, initiatives like these pave the way for a more exciting and user-friendly future in DeFi.
Be sure to check out Suipiens' website and social media channels to stay up-to-date on all things about Sui Blockchain!