Saronite Ore (SNO)
Saronite Ore (SNO) is a secondary currency with many different use cases inside the ecosystem and many more yet to be discovered. These hidden ores can only be found inside the mines and farmed automatically by the holders of NFTs from Mines collection.
NOTE: Saronite Ore is an iliquid token, meaning that users cannot swap it on any Decentralized exchange or buy/sell them in any Centralized exchange!
There are other ways to use Saronite inside the ecosystem and make a profit by doing so!
As previously stated, if Saronite Ore attribute is discovered inside the Mine NFTs that means that the holder is eligible to farm X (amount) of Saronite Ore per Day. There are 3 different factors that determines the Saronite Ore farming rate:
- Random number that is generated from 1-1000 (Ores/day) during mint or during NFT upgrades if the Saronite Ore attribute is discovered in the process.
- Each Day that the NFT is Shielded by an Eternal shield or any of the temporal shields the rate of farm on that the NFT will increase by +1 Saronite Ore/Day. This value is fixed and its not affected by Divine runes.
- You can get up to 10% bonus of Saronite farming by holding Mythic Ore token. Bonus is maximized if you hold 100,000 tokens!
Since Legendary NFTs are protected by the Eternal Shield, they always have +1 Saronite/day added to the farming rate, whereas non-legendary NFTs might stay unprotected for certain amount of time and not receive any extra Saronite rate during this time.
In order to prevent huge inflation of Saronite Ore, there is a Deflationary System implemented which removes 2.5% of the total amount of Saronite Ore per day from each holder. The max supply of Saronite Ores can't be more than (your total Saronite/day) * 97.5.
The maximum amount each holder can get from farming is (total income) * 97.5. The decay of Saronite Ores is happening continuously every block, so the more you hold - the less you earn.
As discussed in the Tokenomics section, there is a 1% Buy/Sell Tax that accumulates BNB for the Gem Hunt. The main use of the Saronite Ore is to use them for taking a part in the weekly Gem Hunt event.
Tip: Saronite Ore is an essential ingredient in the process of forging Mythril Bars. It is always a good idea to hold some for when the time comes!
Users will be able to list their Saronite Ore in the Treasure Market in exchange for BNB. The deflationary system will still be active but it wont affect the sale unless Saronite Ores holdings become less than the listed amount due to the decay. In that case the listed amount will update automatically to adjust the ratio of SNO/BNB.
You list 10.000 Saronite Ores for 1 BNB. At the end of the day your 10.000 Saronite Ores should become 9,975 but if you have enough Saronite/day rate, then this amount will be compensated by your Mines NFTs. However, if your farm rate cannot keep up with the deflation rate or you spend your reserves, then at the end of the day your 10.000 Saronite Ores (which are listed for sale) will become 9,975 and therefore the price will be: 9,975 Saronite Ores for 0.9975 BNB.