FAN Tokens - Personal Athlete Tokens

Tour de Particle Lap 2

In the previous lap of the Tour, we introduced CHALLENGE Cards, NFTs specifically designed for athletes to add their content onto the Ethereum blockchain.

Athletes On the Blockchain

Before we talk about personal tokens, we have to talk about athletes place on the internet today.



It’s a problem. The social platforms of Web2 are primarily oriented around entertainment. Clickbait titles, flashy trends, pretty women. Being an athlete on the internet comes with two main hurdles.

1. Most athletes don’t have the time to be entertainers. Internet trends, new apps, video editing, responding to comments make up a full time job. This takes time away from training.

2. Athletes aren’t incentivized to improve. The internet responds to clickbait and measures value in views.

What do athletes look like on Ethereum?

Ethereum lets projects choose what should be valued the most. Shenanigan uses improvement as the primary metric for value. Capturing the athlete’s greatness, storing it in transferrable tokens, and allowing for athletes to focus on their craft while markets do what they do best. Athletes can infuse their practices with value, tying their content creation together with their intense training regiments.

This was the primary reasoning behind CHALLENGE Cards. And with that said, we can’t expect athletes to spend their entire lives on the Shenanigan DApp, recording and posting everything they do. Athletes lives involve tons of offline events like competitions, signings, trades, public appearances, etc. FAN Tokens capture these nuances and gives Shenanigan a chance to incentivize athletes online and offline.

FAN Tokens Explained

A FAN Token is a colloquial name for an athletes personal token minted from the Shenanigan DApp. If Lebron James had a FAN Token it would most likely be called Lebron James Token ($LBJ). Lebron if you’re reading this we are interviewing athletes currently. FAN tokens are ERC20 compatible tokens that will give Dathletes brands exposure to crypto markets.

FAN Tokens have a bunch of unique properties. One of those being how FAN Tokens are distributed to protect from rug pulls.

The rug pull problem
Rug pulls are a big problem with personal tokens. If millions are invested into a personal token, there is nothing stopping the owner of the token from taking the millions and running, aside from good faith.

How does Shenanigan solve the rug pull problem? It’s simple, FAN Tokens can only be minted if they are earned. Enter SHE-De-Fi.

SHE-De-Fi

Fan Tokens power SHE-De-Fi, Shenanigan’s DeFi components. By using elements of DeFi Shenanigan turns FAN Tokens into a fair launch, compounding investment token. Here are the two processes that result in minting more FAN Tokens.

NRG Cards and Staking

NRG Cards generate a base amount of the athlete’s FAN Token by being held. If you own an athletes NRG Card, you will be generating the athlete’s FAN Token passively. This is the primary mechanism used to disperse FAN Tokens to, well, Fans! The longer you hold an NRG Card NFT, the larger the multiplier added for your NRG Card. Hold it longer, earn a higher APY. Fans are also allowed to stake their FAN Tokens inside the NRG Cards to further increase their multiplier.

It’s also worth noting that multiplier can be affected by the CHALLENGE Cards a fan owns. Owners of an athletes CHALLENGE Card can stake their CHALLENGE Cards inside the NRG Cards as well, which will further increase the multiplier. Read more about CHALLENGE Cards if you missed our last tour post.

So, the best way to get the most FAN tokens is to collect, hodl, and stake.

Athlete Earnings and Goal Alignment

The second way FAN Tokens are generated is for the Athlete themself. When an athlete completes a Challenge successfully, they earn a percentage of the FAN Tokens that were minted since they last completed a challenge successfully. So, athletes only earn their token when they are successful in accomplishing their goals.

Then what about an athlete gaming this system and never failing their challenges? Wouldn’t they earn unlimited FAN Tokens

Simple. If an athlete succeeds too much, their challenges are too easy, and they will dilute their token supply. A personal token is worthless if the token person owns a majority of the token. So, if an athlete succeeds too much, they should set their challenges to be harder, and on the flip side, if they find themselves failing too much, they should make them easier in order to not fall behind. Introducing Shenanigan’s goal alignment protocol!

Liquidity Rewards

Alright we went over the distribution of FAN Tokens and staking FAN Tokens. Now what else can they do?

Let’s talk liquidity. Every FAN token will have a PRTCLE-FAN pool on Honeyswap.org and will automatically be incentivized with rewards from SHE. So on top of existing liquidity rewards, each token will have extra rewards for liquidity providers. The details of these rewards will be released in the coming months as FAN Tokens are developed. But we can guarantee, they’re gonna be sweeeeet.

FAN Clubs

Last but not least.

In the following lap, we will talk about Fan Clubs. However, we at least need to reference them when talking about FAN Tokens.

An athletes FAN token is also a governance token. FAN Clubs are non legally binding Aragon DAOs centered around the athlete. FAN Clubs exist for fans and athletes to come together and build a community in web3. Shenanigan and the athletes can utilize FAN clubs to drive engagement from fans, raise funds for charities, collaborate with other athletes, and even collectively own NRG Cards, CHALLENGE Cards and FAN Tokens.

Twitter Discord Wiki Website