⚙️Learn How Yakuza NFT Works

The CW404 token standard is a hybrid token standard that combines both CW20 (fungible token) and CW721 (NFT). Please refer to the infographic below to understand how CW404 works.

CW404 helps to provide various benefits to the standard NFT:

1. Accessible liquidity: buyers and sellers can easily trade with the Liquidity Pool to buy or sell a CW404 anytime, without having to match with a specific counterparty.

2. Flexibility in exposure: buyers and sellers can own fractionalized amount of CW404 - allowing flexibility for buyers and sellers to have any specific exposure to the CW404 asset.

3. Re-roll function: as a result of frequent mints and burns of the NFT, this allows the NFT to be re-rollable, creating a new paradigm for owners of the CW404 collection

Minting Criteria of Yakuza NFT

1. Users need to hold at least 1.0 $YKZ for an NFT to be minted.

2. Other than the buyers who participated in the TGE Mint Pad of Yakuza, users will have to buy at least 0.5 $YKZ from our official Liquidity Pool on DojoSwap in order for the NFT to be assigned a valid Yakuza Art Image.

Scenarios

To better understand how the Yakuza NFT will behave during different scenarios, please refer to below information.

Airdrop

If the user receives airdrop of <1.0 $YKZ token:

• Yakuza NFT will not be minted in the user's wallet

If the user receives airdrop of >1.0 $YKZ token:

• An invalid (404) NFT will be minted in the user's wallet

• To re-roll your invalid NFTs into valid NFTs, you can:

  • Re-roll them easily on Kage NFT web app.
  • Fulfil the minting criteria of buying at least 0.5 $YKZ from our official Liquidity Pool on DojoSwap.

Liquidity Providing

When user use $YKZ to form $YKZ/$KAGE LP:

• User receives the $YKZ/$KAGE LP token.

• Corresponding amount of $YKZ NFTs are burnt on a Last-in-First-Out sequence.

When user withdraws his $YKZ/$KAGE LP into $YKZ and $KAGE:

• User will receive corresponding $YKZ and $KAGE token.

• Corresponding amount of invalid (404) NFTs will be minted on your wallet.

• To re-roll your invalid NFTs into valid NFTs, you can:

  • Re-roll them easily on Kage NFT web app.
  • Fulfil the minting criteria of buying at least 0.5 $YKZ from our official Liquidity Pool on DojoSwap.

Transfer

• When transferring $YKZ tokens on our web application, whole numbers (e.g., 1, 2, 3) are sent, resulting in the selected Yakuza NFT being moved to another wallet.

• Transferring $YKZ tokens via Injective Hub or custodial wallets allows for both whole and fractional amounts. During this process:

  • The Yakuza NFT in your old wallet is burnt based on a Last-in-First-Out sequence.

  • Receiving wallet receives an invalid (404) NFT. To re-roll your invalid NFTs into valid NFTs

    • Use the re-roll feature on Kage NFT web app
    • Or buy at least 0.5 $YKZ from our official Liquidity Pool on DojoSwap.

Lock

Locking of the NFT on Kage App will prevent accidental burning of Yakuza NFTs. When the NFT is locked, user will receive an error when the user's actions triggers a burn of the locked NFT.

Burn Queue

In the event of burn trigger (re-roll or selling), it follows a Last-In-First-Out sequence. This means that the last NFT (not Token ID #), that arrives in your wallet will be the first one to be burn when trigger.