WolfGirl, a community-driven DeFi platform with an AI-powered NFT ecosystem, has successfully undergone a relaunch. This re-establishment was focused on fixing critical bugs and installing a new price floor system from its previous excessively optimistic state. It was also meant to keep the project’s users from feeling “trapped” or “held hostage.” WolfGirl lacked enough volume to re-achieve its price floor’s “long-term safety mechanism,” leading to developer re-organization for a much better and stronger platform.
Changes that come with the relaunch include fixing the bug preventing buys and sells in the Hunt. The Den’s special status will be revoked so that it becomes subject to WolfGirl tax, thereby curbing sell pressure. Essentially, selling is not prohibited on the platform. However, sales with prices below the price floor will be taxed twice as much (24%), with the same ratio of transaction fees being directed to the Den (2/3) and the burn address (1/3). This feature protects investors from the harmful effects of sudden sell-offs.
Additionally, WolfGirl’s team now can disable the price floor mechanism should this be deemed necessary. Henceforth, the price floor will be updated manually rather than automatically, similar to how other platforms control token taxes following certain events. A zero-error NFT contract has already been deployed on the platform, and users will be required to have at least one WolfGirl NFT to lay claim to the Spoils or commence a Hunt.
The price floor mechanism in WolfGirl is security against price crashes and inappropriate valuation. The Den, on the other hand, is the platform’s BNB reserve for anchoring WolfGirl prices. It also provides a sophisticated BNB reward system (Base Reward) for holders of the native $WLFGIRL token.
Notably, WolfGirl has two distinct rewarding functions, namely: Vault Management and Vault Reset. Both can be called by anyone once certain conditions are met. Rewards come in the form of Base Rewards or Spoils. $WLFGIRL token holders are entitled to base rewards each time the token’s supply falls by 0.5% (a snapshot) after burning.
Of note, the cumulative base rewards are equal to a quarter of BNB accumulated in the Den since the last snapshot. $WLFGIRL token holders need to promptly claim their rewards since all unclaimed rewards flow back to the Den after a snapshot.
In addition to monetary rewards, WolfGirl gives its users the chance to own NFTs by minting their own or purchasing collections available on the platform. This happens through a proprietary ERC721 contract called the “WolfgirlNFT” that is minted with the platform’s native token.
WolfGirl’s NFT launch will feature 2,500 unique AI-generated collectibles of highly detailed WolfGirls. These will be tradable on the upcoming WolfGirl NFT marketplace, which will be in the form of an auction DApp. And since the WolfgirlNFT contract is fully compliant with industry standards, users can transfer their NFTs to other ERC721 chains during which time they can burn them.