DeFi Yield Protocol (DYP) Announces Cats and Watches Society (CAWS) NFTs
The team hopes DYP's CAWS might be the next Bored Ape Yacht Club (BAYC) with a similar impact in the market.
Share this article
DeFi Yield Protocol (DYP) announces the imminent launch of its Cats and Watches Society (CAWS) NFT collection, due on April 13, 2022. This hotly anticipated event comes with luxurious prizes and promising new features propelling DYP into the industry’s spotlight. Considering its unique utility traits, the team hopes DYP’s CAWS might be the next Bored Ape Yacht Club (BAYC) with a similar impact in the market.
What is Cats and Watches Society (CAWS)?
Cats and Watches Society is a collection of unique, randomly-generated Cat NFTs from more than 235 different attributes. These icons are present on the Ethereum blockchain as ERC-721 tokens, and the Interplanetary File System (IPFS) will host them.
This exciting NFT collection comes from the DeFi Yield Protocol (DYP), one of the most experienced and innovative projects in decentralized finance. The project seeks to promote DeFi adoption and has made significant partnerships with big names like Chainlink, Avalanche, Kyber Network, Crypto.com, Coin98, and others.
DYP is a platform offering solutions for yield farming, staking, NFTs, and other DeFi tools. So far, the team has paid over $38 million in rewards to users and consistently rolled out several functional products. Now, it is ready to launch CAWS, a high-utility NFT series with multiple perks for its members. The collection will stand out from most NFT projects, which generally lack applicability and long-term sustainability.
Every cat in the CAWS collection has its own personality, outfit, expression, and other unique traits. Most importantly, each has its own watch preferences, making some of them stand out more than others. Users can discover their quirky features and intriguing stories before fostering one or more.
These super rare cats will be available for adoption starting on April 13. Every adopter will get a funky cat wearing a luxury watch, which provides access to the members-only Society Benefits Zone. New cat owners also receive 10% of the minting fees. Moreover, they get a chance to earn ETH rewards by joining the CAWS staking pool.
Undoubtedly, the biggest, most appealing prizes of the CAWS release are the 5 brand new Rolex watches worth nearly $150 thousand. More details on how to be eligible for these mouth-watering prizes are available through the CAWS whitelist process.
Another aspect that differentiates CAWS from other NFT projects is its anti-whale purpose. The team believes that whales shouldn’t be the only users able to mint NFTs. In fact, minting a Cat costs only 0.08 ETH, which should be accessible for most users. Furthermore, the project does not impose price tiers or complex minting conditions. This way, everyone looking to adopt an NFT Cat pays the same price.
Getting 10% of minting fees and access to the CAWS staking pool are not the only enriching means for Cat adopters. Those minting and owning more cats get a higher share in the staking pool, substantially increasing their ETH rewards.
After minting, every CAWS holder can mint an additional standalone NFT watch for free, which will provide other future benefits.
DeFi Yield Protocol is also building its own Metaverse with an exciting Play-to-Earn (P2E) game still in development. During the game, players will have their NFT cats as companions, which they can customize by purchasing items and animations. Above all, the cats will interact with their owners in various ways, especially through sounds and animations.
The game will challenge players with an adventurous quest to dig for treasures and complete daily, weekly, and monthly quests. Users will be able to earn coins for their achievements, which they can later trade for various tools.
The game will require players to use two tokens, iDYP, and DYP. For instance, they will use iDYP to boost the energy levels of their characters and cats. On the other hand, they can use DYP tokens for purchasing in-game items. Rewards for various accomplishments will come in DYP, ETH, BTC, BNB, AVAX, and APE.
One of the game’s strongest points will be the social interaction between players. For instance, users will be able to invite each other to participate in a task and work together to progress. This way, the game will act as a social platform with P2E benefits, where players can meet, chat, and collaborate. Currently, the game is still in development. However, it’s already showing signs of becoming one of the most exciting P2E games in the Metaverse. This could transform CAWS into the next Bored Ape Yacht Club (BAYC) with a similar effect on the market.