However, unlike your typical NFTs where people would just tokenize ownership of a song, artwork, or even a tweet (yes, that happened too), the Werewolf exchange created NFTs for gamification purposes. The exchange created a digital version of our world, and inhabited it with werewolves.
Three types of werewolves, to be exact, each of which corresponds to one of three type of NFT tokens. That way, you get Alpha, Beta, and Omega werewolf assets, and Alpha, Beta, and Omega werewolves. Alphas come with the territories, where one werewolf leads a territory and its pack. The said pack is made up of Beta werewolves, which are weaker, and basically followers, similarly to how things work in a regular wolf pack. Omega werewolves are the loaners, the outcasts — those without a pack or an allegiance. They are the weakest of the bunch because of the fact that they are alone, although they are still quite powerful.
The company also has a Werewolf Coin (WWC), which can be used for staking, and two ways to earn them would be to get them as staking rewards, or to buy them via an IBCO (Initial Bonding Curve Offering), which started on January 22nd, and it revolves around buying WOLF token in exchange for Ethereum.
Formula for the same is (amount/totalsupply) * ((Now-startTime)/TotalDays)
Rewards of WWC will be updated real time on user’s dashboard and he/she can claim the reward anytime.
In the Werewolf IBCO when you buy a token, each subsequent buyer will have to pay a slightly higher price for each WOLF token. As more individuals are interested in the project and start investing in the WOLF token, the value of each token progressively increases along the bonding curve. This gives you the first-mover advantage.
The cost of each WOLF token is settled by the bonding curve which depends on the total supply of the token and reserve ratio, and whatever Ethereum is paid into the curve or contract to buy Wolf token, this is deposited or stored in the BCO.
Wolf Token is the Standard ERC-20 Token smart contract with Name, symbol, and initial supply function with collateral Ethereum to mint more Wolf Token in the market supply.
Unlimited supply: There is no limit to the number of Wolf tokens that can be minted through a contract.
Predetermined price: The buy and sell price of Wolf tokens increases and decreases with the number of tokens minted and burned, respectively.
Wolf token price. The price of token n is less than token n+1 and more than token n-1.
Instant liquidity. Tokens can be bought or sold instantaneously at any time, the bonding curve acts as an automated market maker. The bonding curve contract performs as the counterparty of the transaction and continuously holds enough ETH (Liquidity) in reserve to buy the WOLF tokens back. So, users don’t have to worry about their locked liquidity.
A bonding curve is a mathematical curve that defines a relationship between price and token supply. Bonding curve offering is a smart contract created to give tokens a market by making buy and sell functions. To buy WOLF tokens, the user needs to send Ethereum (ETH) to the born (Mint) function (with this function Wolves are taking birth) which calculates the average price of the token determined by the smart contract by following the linear curve formula. The sell function works in reverse: first, the user needs to take the bonding contract with permission to take the number of tokens you want to sell (ERC20.approve() ), and then you trigger the function to take those tokens from the user. The contract will calculate the current average selling price, and the user will send the correct amount of Ethereum (ETH) to your wallet. Token prices increase and decrease as they are purchased and sold from the contract, respectively.
This Werewolf IBCO helps investors to gain governance over the Defi ecosystem, the Werewolf IBCO smart contract algorithm allows to create an Automatic Market Maker
(AMM) and remaining 100% collateralized at all times. Bonding curve participants can essentially buy and sell tokens back at any time at Werewolf official website (https://werewolf.exchange), for a fair and transparent means of distributing governance rights.
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Source: Cryptocurrency - investing.com
