Cauldrons
Yield Bearning NFT that produce $ELXR
Last updated
Yield Bearning NFT that produce $ELXR
Last updated
Cauldrons ERC-721 are the best friends of our Wizards 🧙♂️
They are tradable: each cauldron is an NFT which generates yield in $ELXR meaning that you’ll be able to gift it to fellow wizards or trade in on third-party markets.
They are scarce: cauldrons’ supply is hardcap at 50 000 and will be controlled in order to sustain the rewards. So you better rush to get those cauldrons when they drop.
They evolve: a cauldron starts at level 1 with a base reward. You’ll then be able to level it up to increase the reward (APR) of your cauldron using Cookbooks.
But they are fragile: If you claim your produced $ELXR out of the cauldron, it will explode and will not produce $ELXR anymore! Unless…you use Claimstone
There is two main ways to acquire Cauldrons:
On the DAap shop using $ELXR
On the secondary NFT Market
The cauldron is the flagship product of Elexir. How much money a cauldron makes? Let’s break it down!
The returns depend on the level. The formula is simple:
Let’s unpack each elements!
BaseDailyReturn: 0.2 $ELXR/day, this is the return of a level 1 cauldron.
ElexirFactor: Global yield control parameter, this factor is the lever the DAO can pull to increase or decrease the yield of all Cauldrons. Minimum value is 1. Check Magic Fed for more info
Level: on-chain NFT attribute that defines it’s yield.
You get it, the best way to increase the yield is to level up your Cauldron. Therefore increasing your Daily return.
Let’s see how the level affect your yield:
You can use our cauldron calculator to make your strategies:
👉 https://www.elexir.finance/cauldron-simulator
With the BaseDailyReturn and a starting price of a Cauldron at 40$ ELXR this corresponds to an APR of 182.5% for level 1 cauldrons.
So 0.2 $ELXR/ day. Now let’s take a level 10, you have a 2.0 $ELXR/day 🤯 The max level is 100 for a cauldron.
The hardcap of cauldrons are 50 000. The cauldrons will be released by small batches overtime and when the treasury's health permits it. You can follow https://twitter.com/MagicFedAlerts to get updated on new batches alerts 🎉
Each flame indicates the number of days you haven't claim your cauldron. More info to come on this.
Cauldrons will be revealable. Revealing your cauldron will give you a chance to acquire super-powers. More info to be announced soon.
