Required to mint the highest yield generating NFTs
Designed to provide stability to the overall protocol
LP pairs will be broken or created to encourage protocol stability based on liquidity to marketcap ratio and xRay Token price (These funds will be maintained as either the treasury or LP to support the protocol. No funds will go to the team when breaking and creating LP)
Advantages of a Two Token System
Advantages of Radiant compared to traditional DaaS and NaaS protocols
Having multiple tokens allows the treasury to be built in a more balanced way. Many protocols make the mistake of not having an external revenue model to support their main token. Some have started to allow NFT minting in stable coins but this strategy is not effective because it reduces buy pressure on the main token. Purchases of xRay Tokens with Rays LP Tokens helps solve the issue of building an external treasury and protocol owned liquidity all while maintaining buy pressure. This modernizes the bonding process through the use of Passive Yield Generating NFTs allowing for protocol owned liquidity without the need to sell the primary token (Rays) to create it.
Reduced sell pressure of Rays yields from NFT holders
Typically, as users accumulate yields, they will sell their earnings when they've reached a comfortable level. Depending on the Stargazer's strategy, they can choose to earn Rays or xRay tokens independently or to participate in the full ecosystem and earn both. Rays main purpose is to be the utility token of the protocol generating passive yields in Rays through the Solar NFT Collection. Alternatively, xRay tokens are used to upgrade and increase the Stargazer's yield generation by purchasing more powerful NFTs.
Purchasing NFTs from the Solar collection in Rays will allow Stargazers to generate daily yields in Rays. However, purchasing NFTs from the Supernova collection with xRay tokens will allow Stargazers to earn significantly more. This provides a significant incentive for Stargazers to participate in all aspects of the protocol, as well as provides additional benefits to those that compound their yields.
Reduced sell pressure of Rays from the team for protocol sustainability.
Currently protocols have to sell NFT/Node proceeds to create LP, build a treasury to help stabilize the long-term health of the project, as well as for operations, marketing, development and staffing needs. The xRay token allows Radiant to continue to build a strong LP and a treasury outside without negatively impacting Rays token. Claim Taxes may be implemented on Rays or xRays tokens in the future depending on protocol needs.
NFTs instead of Nodes
Instead of being a node and RPC protocol, Radiant utilizes an NFT based system. Both tokens, Rays and xRay can be used to mint different types of NFTs that can be staked to generate yields. Using NFTs helps to alleviate the need for monthly fees that some protocols have to implement due to the maintenance costs associated with nodes. Additionally, NFTs offer a wide variety of functionality that can be customized as the protocol grows, allowing for gamification, as well as unique functionality to add to the protocol's user experience. NFTs are peer-to-peer (P2P) transferable but sales on marketplaces won't be permitted initially. As collections sell out, secondary markets will be made available to allow collectors to acquire enough NFTs to upgrade.