Bytes

🔥 @NeoTokyoCode Staking Yield APR deep dive; is it worth it? 📜 Neo Tokyo is the second longest standing yield-based NFT collection, and the longest-standing for variable yields being tied to traits 🤔 So what is the current APR if you buy in today & stake with max of 2000 $BYTES on a standard “Reward Rate 2” S1 Citizen? 🤿 Let’s dive into the variables along with some basic speculation 🧮 Current Prices: 🔹S1 Floor Citizen: 0.699Ξ ($1484) 🔹BYTES: $0.39 🔹2k BYTES: $780 🔸Total Cost: $2264 ⏳ The differences in yield from staking lock periods don’t make that much difference at the moment so let’s just use 12 months as a middle ground for a slightly higher rate; 1, 3, 6 & 24 mo periods are also options 🌾 Current Yield, RR2 S1 +2k BYTES: 🔐 Staked 12 mo ≈17.3 BYTES/mo 📈 Of course APR on a staked S1 Citizen depends on the price of BYTES, so let’s use some basic speculation on potential BYTES price appreciation to come up with some APR yield scenarios ☑️ 1x BYTES ($0.39): 3.6% APR ☑️ 2x BYTES ($0.78): 7.2% APR ☑️ 5x BYTES ($1.95): 17.9% APR ☑️ 10x BYTES ($3.90): 35.8% APR ☑️ 20x BYTES ($7.80): 71.6% APR ☑️ 50x BYTES ($19.50): 180% APR 💬 So to answer the question “what’s the APR on a staked S1 Citizen with 2k BYTES?” we have to think in terms of where BYTES price will be after one year 🫰 In an alt season revival, or just general bull market comeback, any of these scenarios are possible 🔢 Another thing to consider is that even at the end of your lock period, you hold the BYTES yield AND the NFT +2k BYTES at their then-current value, which could have also appreciated 💭 Best to look at potential yield on your staked NFT as a bonus and not something to count on; note that BYTES emissions are on a decay curve so it’s nearly impossible to project APR scientifically 🤝 This is just to give you a rough idea based on current prices and emissions yield rate 🚫 Not financial advice, this is educational content for your awareness; all digital assets, NFTs, crypto could go to zero as always 🗼Grand Rising

🔥 Several wallets accumulating @NeoTokyoCode $BYTES at recent record volume ☑️ Price wicked to $0.87 overnight, now settled down to $0.46 which is still up 26% in 24 hours ☑️ BYTES up 75.1% in 30 days ☑️ The story here: buyers accumulating an undervalued token that has its own yield function via Neo Tokyo NFT staking 👉 See my post from yesterday to understand where buyers might be seeing value: 🔗 teapaw.org/ktrap/status/203470419… 🗼Grand Rising