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The most degenerate NFT on Injective
About
The Galactic Syndicate will bring the community-first focus of BackBone Labs’ liquid staking tokens (LSTs) to the Injective ecosystem. The Syndicate aims to lead $bINJ to the top of Injective LSTs by creating sustainable revenue for holders through rewards, fees and other mechanisms. This will be done by increasing its use cases, liquidity, and utility. In effect, it rewards holders of a Galactic Syndicate NFT.
Utilities
Staking Rewards
Holders can stake their NFTs in the GraveDigger to earn $bINJ tokens. This mechanism encourages active participation and holding, as staking yields dividends in the form of the native token..
Additional Revenue Streams
The project explores additional revenue streams and options for NFT backing to enhance the value of the collection as a whole and for individual holders.
Exclusive Community Benefits
NFT holders are likely to receive perks, such as a portion of the $SOUL token supply, and will have access to exclusive community events and opportunities.
Royalty Income
There is an ongoing 5% royalty from secondary market sales of the NFTs, which is distributed among the artist, the Galactic Syndicate treasury, and the team, potentially providing a continuous stream of revenue to NFT holders.
Governance Participation
Owners of Galactic Syndicate NFTs have the opportunity to participate in governance decisions, helping shape the future direction of the project by voting on various proposals and initiatives.
Interchain Functionality
With the support of Ark Protocol, these NFTs will have interchain transfer capabilities, allowing them to operate across different blockchains within the Cosmos ecosystem. This increases their utility and potential for broader adoption.