Macabris

NFT List  Badge

Macabris

NFT List  Badge
Macabris is a DeFi protocol simplifying what life insurance companies are doing all the time. Receive increasing monthly payouts for 50 years, as long as the underlying celebrity is alive. Macabris is a non-fungible token (NFT) on the Ethereum blockchain. Each token is unique and represents a specific celebrity. Owner of each token receives share of the monthly payout from distribution pool as long as the underlying celebrity is alive. Since total monthly payout amount is fixed, every token receives an increasing payout as other token celebrities keep on dying. Macabris is build on Ethereum ERC-721 Non-Fungible Token (NFT) standard. There are 7250 unique tokens, each representing a specific celebrity. The number of tokens is fixed: there will never be more or less. Roughly every month a share of distribution pool will be paid out token holders. The pool is distributed in 600 installments. Every 30 days one installment will be paid out automatically and distributed to alive token holders. Example: let’s say there are 100 ETH in the pool and 100 alive celebrity tokens. Monthly payout is 1/600 * 100 = 0.1667 ETH, distributed per 100 alive tokens. As such, each token automatically receives 0.1667 ETH / 100 = 0.001667 ETH per token. Suppose, a month has passed, and 5 celebrities met their ends. There are total 95 alive tokens. Monthly total payout is the same – 0.1667 ETH, however it is distributed among the living tokens. Each alive token now automatically receives 0.1667 / 95 = 0.00175 ETH. Eventually, as more and more celebrities perish as the times goes by, the last remaining alive token will collect entire pool payout every month.

Blockchain:

Ethereum

Ethereum

Drop Date:

April 11, 2022

Tags:

Marketplace: