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ERC-20s Under The Magnifying Glass: Noob.Finance


What is Noob.Finance? In a nutshell, Noob.Finance belongs to the category of the newly born, yet potentially promising ERC-20 projects. The team introduced the project as a very interesting and cohesive mixture among DeFi, Farming and NFTs — the latter receiving the most attention recently, due to the launch of Noob.Finance’s “Limited Edition Upgradeable NFTs Collection”, which was officially initiated yesterday by airdropping out to some of the early investors the first NFT of the series, Satoshi Kid.

Satoshi Kid

But let’s proceed in orderly fashion.

A concise overview of the Noob.Finance project

The team’s declared objectives are tripartite:

  • To create separate farming pools to cultivate more $NOOBS
  • To create a marketplace where $NOOBS, $ETH, and $RUGZ (a partner project and token, which we will not explore in this dedicated article) can be used to swap for limited edition NFTS.
  • To be a resilient force as the NFT Defi spaces continue to develop.

The project’s flagship token is, obviously, $NOOB. The total max supply is hard-capped at only 30.000 $NOOBS and can’t be increased, as the minting key has been burned after the contract deployment, so there will be no more tokens than these.

After the official launch announcement there have been 3 pre-sale rounds and, up until now, more than ⅔ of the total token supply has been distributed. The NOOB team members have also locked 1500 $NOOB tokens in TrustSwap, as a guarantee for the actual and future investors that they’re serious on achieving each of the planned milestones ahead in the roadmap.

Courtesy of Noob.Finance Website

How to get $NOOB?

The $NOOB token can be obtained either a) via UniSwap or b) farmed by · providing NOOB/ETH LP or NOOB/USDC LP tokens in one of the “geysers” available on the GYSR – a 100% decentralized platform for yield farming.

Obviouslypath b) is suggested as the potentially optimal path for medium-term investors: by placing the LP tokens in the geysers and keeping them there, liquidity providers will be able enjoy up to a 4.10x multiplier boost on the daily $NOOBS earning rate, therefore accelerating token accumulation.

The Geysers also offer the possibility — by buying and then consuming $GYSR tokens — to benefit from an “unstaking multiplier” when exiting the pools, adding more options to boost the claimable $NOOBS.

Noob Farming by GYSR

The “Crypto-Kids” Limited Edition & *Upgradeable* NFT Line

As per the introduction above, the Noob.Finance team is making things even more palatable to its community by bringing the “Crypto Kids” NFTs line to the table: an alluring pixellated & animated limited edition series featuring notable characters in the crypto space (and not only the crypto space).

The first portrayed “kid celebrity” being Kid Satoshi (whose NFT was briefly mentioned earlier in the article) has already been airdropped to the small élite of early investors who were holding 200+ $NOOBS at the moment the snapshot was taken. Coming next in the line will be Kid Vitalik and – winking at rap lovers – Kid Tupac.

Wonder Kids

The peculiarity to these NFTs (peculiarity that so far, to my knowledge, has not yet been replicated by other projects in the crypto universe) is tied to their unique upgradeability feature: what this means is that each NFT can be upgraded, becoming a completely different, “aged” version of the previous one and allowing owners to take the portrayed character from Childhood to Teenage years, and finally (if upgraded again) to his/her adulthood.

Kid Satoshi has grown up…

There’s a catch though: just like the arrows of time, which relentlessly move forward, upgrading an NFT is also a non-reversible action. Meaning you can’t have your Satoshi NFT back as a kid once you’ve “evolved” him into a man – and therefore making the choice of upgrading (or not upgrading) non-trivial, in terms of the appreciation/depreciation of your collectibles.

The NFT platform was released on November 23rd and new crypto kids will be added and airdropped to eligible users throughout the next 12 months. The requirements to meet will vary with each new airdrop cycle.

More news coming…

There is still more to add, as news about the project come out with almost daily frequency. If this article managed to spark some curiosity on your end about Noob.Finance, I highly suggest to follow the “do your due diligence and research” crypto wisdom and start by checking out the following links below. In the meanwhile, happy bull-run!

More about Noob.Finance

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