1 Genesis Passive NFT = 1 Passively Owned Axie Infinity Team
NOTE: A Ronin address is required to mint. Please go here to setup a wallet.
Mint will open on Nov. 24th at 6pm EST, 11pm UTC
What type of NFT is it?
Non-transferrable ERC-721. Your Passive NFT can be viewed on marketplaces like Opensea, but cannot be sold or transferred.
How were the Axie NFTs chosen and how will each Passive NFT be assigned three?
Passive's Axie Infinity expert, DAVEvs.AXIE, has hand crafter 100 Axie Infinity teams of three Axies reach. Dave is a top 1000 player and has experience in building effective scholarship teams.
Each team of three axies has an associated Ronin address. Before the mint, the 100 ronin addresses have been assigned to the NFT number and sill be stored in the metadata of your NFT. Once you have your Passive NFT, you will be able to go to https://marketplace.axieinfinity.com/profile/<YOUR NFTs RONIN ADDRESS HERE>/axie/ to view your three underlying Axie Infinity NFTs.
Who controls the underlying Axie NFT's?
Your three axie NFTs will be held by the Passive team in Ronin wallets we secure. Having this centralized will allow us to manually manage scholars, payouts, and redemption.
This will give us more control as we scale Passive NFTs. If there is ev
How will revenue generated by my Axie team be paid out?
Axie Players earn revenue by earning SLP Token. About every 15 days, you will receive SLP token payouts to the Ronin address you provide at the time of mint. You can choose to hold the SLP on Ronin, sell it for ETH using Katana, or transfer it to Ethereum mainnet via the Ronin bridge.
How will my SLP payout be calculated?
To reduce variance between scholar performance, all SLP earned from the 100 Axie teams in this mint will be combined into one pool. 25% of it will then be evenly split between the 100 Genesis Passive NFTs.
This allows us to think more intelligently about team structures and eliminates the risk that your scholar underperforms.
What is the minimum SLP a scholar must earn to retain their scholarship?
This is subject to change as gameplay changes, but the current minimum is 4000 SLP per month. A scholar that falls below 4000 will receive a warning and additional coaching the following month. If they fail to reach 4000 for two months straight, they will be replaced with a new scholar.
We allow and encourage scholars to take breaks or leave if they are no longer having fun. When a scholar goes on break, after 24 hours of account inactivity, their team is given to another scholar until they are ready to return.
How much SLP will I earn per month?
Passive does not promise any amount of SLP output or revenue minimum. This is an example if all scholars reach the minimum of 4000 SLP:
4000 SLP * 100 Scholars = 400,000 SLP
400,000 SLP * 25% Passive NFT owners percentage = 100,000 SLP
100,000 SLP * 1/100 for each passive NFT you own = 1000 SLP per month per NFT. This is the expected minimum, but again is in no way guaranteed.
What are some examples of risks associated with Passive NFTs?
1.) Axie Infinity is constantly evolving. One big upcoming change is the release of Axie Infinity version 2. If the team changes the economics or abilities of Axie NFTs it could reduce their value or revenue potential.
2.) The Axie NFTs could be stolen or lost. If this happens we will refund owners for 50% of the mint price.
3.) If scholars are found to have multiple accounts, Axie NFTs can be banned for up to one year. We take this risk very seriously and screen scholars in order to reduce the risk this occurs.
Why can’t I burn my Passive NFT to receive my Axie NFTs until three months after the mint?
A three month lockup helps with three things:
1.) All teams are fairly even in resale value at the time of mint, but some Axie teams could be instantly redeemed and resold for more than the mint price. This would remove their earning potential from the group.
2.) It gives 100 scholars the opportunity to prove their skills over the first few months without having to get shuffled around to new axie teams.
3.) It allows us to execute the management plan which we believe will generate the best ROI.
How do I redeem my three Axie NFTs?
After the three month lockup period, you may burn your passive NFT and notify jdougy#0001 via discord or twitter DM. At that time, the three Axie NFTs will be transferred to the Ronin address that you provided at the time of mint. From there you can choose to sell the NFTs, hold them, play Axie Infinity yourself, or give them to a scholar yourself.
More info on how to burn a passive NFT will be provided near the end of the lockup period.
When will team management services end?
Passive will continue to manage your NFT yield for a minimum of one year. After that, we will continue until the 10% yield paid to passive falls below $5 per month for two straight months. For example, if SLP prices fell below $.012 for two months and monthly SLP generated remained at 4000, we may alert you that we are ending management services. This will be well communicated via Discord and would be done if $5 does not cover the cost of services.
Who will be the scholars playing Axie Infinity?
While operating a pilot program for passive NFT's, the passive team has been building out a Discord community of Axie Infinity scholars. We have a group of 100 vetted scholars in the community which have verified Discord identities. If you are interested in joining this Discord and talking to scholars, please let us know.
Please reach out to one of our team members on Discord or email justin @ passive.xyz if you have any additional questions.