🎂Holder Benefits
Winners every day, rewards forever !
Own to Earn
We aim to make DeFi exposure as simple as:
Buying an NFT
Hold it in your wallet
Receive airdrops
That is why you simply Own to Earn.
This is the simplest and safest way for our holders to benefit from our Daily Raffle and DeFi/NFT-Fi exposure.
No additional requirements other than holding our NFT, and the winner's reward will be automatically airdropped when you win. Circumventing the need to interact with a single protocol.
With our NFT you will be exposed to a couple of trusted Solana DeFi and NFT-Fi protocols without a click.
Daily Raffles
To distribute 42.5% of the daily yield, we choose the raffle way.
Raffles are a pretty popular way to add fun and luck which all of us degens love.
1 Cake gives (number of winner per day / Circulating Supply)x100 % chances to be drawn per day.
By holding a MagiCake in your wallet, you will be forever eligible and automatically registered for all the raffles we hold.
As long as the daily distribution is not significant enough, raffles will occur only with a minimum of 0.5 SOL to 1 winner.
Completing this, some Rev Raffles tend to occur weekly. Multiple winners, of 0.2 SOL each.
Intrinsic Value
Our Raffles are not the only way to bring value to our holders.
Indeed each of the 333 NFT represents 1/333th of the total Yielding Treasury raised by the project.
As we compound 42.5% minimum each day, the treasury grows over time. Even if you don't win any raffle, the intrinsic value of your NFT ends up being compounded equally. Our growth expectation year-to-year is around 10~20% in SOL with the lowest expectations.
MagiCake market value can vary in USD, but $SOL value will tend to an equilibrium between:
(Treasury + Over-Collateral) / Total supply.
It's a directional bet on $SOL and the Solana ecosystem and a smart way to put your $SOL to work over a bigger time scale (piggy bank effect). The treasury raised at the mint will stay working on-chain and will retain value for their holders directly there.
If Solana wins, everyone wins !
We consider ourselves as a Fund Management NFT project, and so we can use indicators that don't make sense for typical NFT project types.
As said above, your NFT is backed by the minting funds and we just manage it. With our compound strategy, this leads to having more and more collateral per cake, so a better efficiency.
In TradFi NAV = (treasury working - total liabilities) / circulating supply
This indicator is used to measure the fund efficiency.
This means that 1 SOL you give us in our treasury will work with more SOL for you as long as the NAV is above the floor price.
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