Highlights
- We are delighted to announce the first Seeker to have a Burn & Earn event — Brillion Finance ($DUA)!
- 10M $DUA will be allocated for the first event at the end of July.
- Over 95.66M $NXRA or 11.25% of the total supply has been staked.
- Five more events are being planned for 2024 — stake $NXRA and earn rALBT to prepare for upcoming Burn & Earn events!
We recently published a preview of the upgrades we’re implementing for the Fundrs Staking Tiers and Locked Staking. Tiers are now recognized on all networks and granted to locked stakers. Today, we are excited to announce that Brillion and its $DUA token will be the first Seeker project to launch a Burn & Earn event on Fundrs!
10M $DUA (1% of the total $DUA supply) will be allocated for the first Burn & Earn event, which will occur towards the end of July. More details, such as minimum and maximum burn limits and vesting schedule, will be communicated closer to the event. $DUA is only the first event planned, with five more planned throughout the year — so stay tuned!
Brillion Finance ($DUA) is a smart wallet designed for the seamless adoption and management of digital assets. It was the first Seeker project to launch a fundraising campaign on the platform in 2022 and is an active contributor to the Nexera ecosystem by utilizing key technologies such as the Nexera Protocol in its development. With this announcement, Brillion is also the first to take advantage of unlocking another exclusive opportunity for $NXRA stakers through a Burn & Earn event.
To prepare for the upcoming $DUA Burn & Earn event, we’re showcasing the feature in-depth and explaining what users should expect to see on the platform.
Burn & Earn: Exclusive Benefit for $NXRA Stakers
We are introducing a new feature on the Fundrs platform — Burn and Earn Events — to provide more opportunities for long-time $NXRA stakers.
These events let users burn their rALBT to receive tokens from past Seeker launches. They provide another chance to earn Seeker tokens from earlier startups, especially for those who missed out on these sales. These events are exclusive to long-time $NXRA stakers and rALBT holders.
The platform will have a new Events page where users can track all Burn & Earn events and their allocations.
Burn rALBT, earn Seeker Tokens
Each Burn & Earn event allocates Seeker tokens. Users burn rALBT during the events to earn Seeker tokens (subject to a vesting schedule). The number of tokens a user gets depends on how much rALBT they burn compared to the total rALBT burned in the event.
While the event is ongoing, users can add more to their rALBT burn to maximize the tokens they will receive up to the maximum amount determined by their tier level. These limits can vary per event and depend on the Seeker projects with tokens that are being distributed.
At the end of the event, users who burned rALBT will receive Seeker tokens proportional to the total rALBT burned and subject to a vesting schedule specific to the event.
Requirements for Participating in Burn & Earn Events
Burn & Earn events are open to all $NXRA stakers on the platform, from users with no staking Tiers to Platinum, and for locked and flexible stakers. Each event will have different limits on how much rALBT users can burn depending on their Tier level.
As with any opportunity on Fundrs, like fundraising rounds, users must be verified to participate in Burn & Earn events. Users from the United States of America (U.S.A.) can join these events and can now get verified through the platform. Users from OFAC-sanctioned countries still cannot participate.
As mentioned with the update to Fundrs Tiers for locked staking, the higher tier between the two will be recognized for users with locked and flexible staking.
Example Scenarios
We’ll use examples to illustrate how the burn and earn events work.
The Burn & Earn event is from the Rocketfuel Blockchain Seeker project:
- There is an allocation of 200,000 FUEL tokens for the event;
- The event lasts for 48 hours;
- The event is open to all, but the minimum burn requirement is 1,000 rALBT and the maximum depends on the user’s Tier level.
Example 1 — John’s Participation
John has a Silver Tier on Avalanche:
- He locked 20,000 $NXRA tokens (earning him a Silver Tier);
- Additionally, he staked 5,000 $NXRA tokens through flexible staking;
- He also has 69,420 rALBT earned.
During the event:
- John burned 50,000 rALBT, below the maximum for his Tier level;
- His share of the burn pool is 50,000/525,000 or 9.52% of the total rALBT burned;
- He received 19,047.62 FUEL tokens or 9.52% of the total allocation from the event.
Example 2 — Lillie’s Participation
Another user, Lillie, has a Platinum Tier on Ethereum:
- She locked in 250,000 $ NXRA, earning her a Platinum Tier;
- Additionally, she staked 50,000 $NXRA through flexible staking;
- She earned 423,000 rALBT from her staking.
During the event:
- She burned the maximum of 200,000 rALBT for her tier level;
- Her share of the burn pool is 200,000/525,000 or 38.10% of the total rALBT burned;
- She received 76,190.48 FUEL tokens, 38.10% of the total allocation for the event.
Note that maximum rALBT burn requirements and vesting schedules will vary per Burn & Earn event, depending on the Seeker project that launched the event.
Next Steps
We thank our #NoMercy community for their continuous support and trust in the platform and our work across the Nexera ecosystem. We envision the Fundrs Burn & Earn feature as a unique and exciting opportunity for long-time $NXRA stakers. This feature encourages meaningful engagement to create a participatory economy for everyone.
With the necessary development already in place for Fundrs Burn & Earn, we are ready to see the first event on the platform with Brillion Finance’s $DUA token:
- Allocation — 10M $DUA (1% of total $DUA supply)
- Starts — End of July
- Burn Limits — To be communicated closer to the event
- Vesting Schedule — To be communicated closer to the event
This is just the beginning — five more Burn & Earn events are planned this year! To prepare for these upcoming events, make sure to stake your $NXRA on Fundrs through flexible or locked staking.
As mentioned in our previous update, Tier levels are recognized across all networks, regardless of where you staked your $NXRA. Locked staking is also now integrated into the Tier system, giving users more options on how to stake their tokens.
Our vision for Fundrs is to serve as the hub for $NXRA token holders and startups, bridging the gap between these two worlds and unlocking the full potential of $NXRA’s utility, technology, and opportunities. This aligns with our mission to create a participatory economy grounded in reputation.
We are excited to reveal more about Fundrs’s upcoming plans and extend our gratitude to our #NoMercy community for their invaluable feedback and support as we shape the future of finance!
About Brillion Finance
Brillion is a smart wallet designed for the seamless adoption and management of digital assets. The all in one solution connects directly to your bank account, enabling simple onboarding to crypto and emerging asset classes like Real World Assets (RWAs). With innovative features like KYC and biometric transaction signing, Brillion removes the complexity of daily wallet management while retaining security, allowing you to focus on your investments. Explore the world of digital assets and RWAs at your fingertips with Brillion!
About Nexera
Nexera is empowering the future of finance with cutting-edge open-source innovation. Nexera infrastructure seamlessly incorporates blockchain technology, facilitating on-chain and off-chain operations for simplified digital, financial, and real-world asset management.
Nexera is focused on nurturing the broader ecosystem and DAO and enhancing the utility of the $NXRA token. It is committed to promoting community growth and driving innovation in the digital asset space, including the growth and development of current and future key ecosystem partners.
Learn more about Nexera by following them on X, joining the Telegram Community, or visiting their website.
