🔑Access Keys
Pioneers Program is a closed event that needs a key to join
NFTs Specification
Utility | Obtaining a ship for the space race of future Elysium validators. Additional improvements to the spaceship. |
Supply | 9000 NFTs of 4 different types: A (600), B (1200), C (2400), D (4800). |
Minting | With WL till the first pioneer finishes the race. |
Buying | On the secondary market from those who have minted with WL. |
Selling | At any time on the secondary market. |
Burning | When getting or upgrading a spaceship. Via the Team buyback and burn initiative. |
Extended Private Sale
The extended private sale allows those who have WL of a particular type to mint an Access Key of the same type at a fixed price. The WL-based minting will continue till the first pioneer finishes the race (just before the launch of the Elysium MainNet).
Participants must reach a certain level in Crew3 by completing quests to obtain a WL and to be able to mint the keys.
Required levels in Crew3 for different WL types (level requirements may change over time):
WL Type D - level 10 (11 700 XP) WL Type C - level 12 (17 600 XP) WL Type B - level 14 (24 700 XP) WL Type A - level 16 (33 000 XP)
Thus, advancing in levels, users can mint a D key first, then a C key, and so on.
Every user can mint only one key of each type by raising Crew3 level, which is 4 keys in total: Access Key D + Access Key C + Access Key B + Access Key A.
Access Key Parameters
When a key is burned to obtain or upgrade a spaceship, its parameters are transferred to the spaceship.
The Engine Efficiency parameter of the Access Key cannot be changed - it is a built-in property of the key.
The Inertia Retention parameter can be improved through key staking. Every 30 days of staking the "Inertia Retention" raise its value by 1.
For more details on how these parameters affect the ship flight please refer to the Spaceship page.
Buyback and Burn
The Team will buy those offers from the secondary market that are below the private sale prices. Then we will burn those bought-back keys. This will keep the price floor at a level higher than the private sale prices and also will shorten the supply.
FAQ
What is the point of the extended private sale?
The whole idea of the extended private sale is not to let the price of NFTs drop.
It allows us to indirectly control the size of the supply on the market. When the secondary market prices for Access Keys start to decline, we will make it harder to get WL for the minting. This will reduce the supply on the secondary market and increase the price of NFTs.
Also, it allows the Team to keep the price above the private sale prices by buying back NFTs below the floor and burning them.
What about the public sale?
We will not hold a public sale.
The concept of the short-time public sales when NFTs are sold out in minutes is the concept of the bull run. On the weak bear market, we do not want to compete with those who have bought NFTs on private sale and are willing to earn some money by reselling them on the secondary market.
All the keys that would not be minted just will stay unissued.
Are NFT keys a good investment?
Our keys are not just pictures - they are actual certificates granting access to a unique event. They are limited in number and will be burned all the time.
The more Elysium gets real - the more people will be eager to become validators. And anyone who joins the Pioneer Program after the start of the space race will have to catch up with the others. To do that, they will need improved ships, which can only be obtained by burning a few keys.
Thus, the number of keys will only decrease over time, and the demand for them will increase.
Moreover, the Team will buy back those NFTs that are sold on the secondary market below the private sale price and burn them.
Why are there 9000 access keys? Is not that too much?
Some of the keys will be lost or forgotten. Some will burn to improve spaceships. Some holders will use their keys to get access to the race but will never participate. Some will participate only at the start. Some keys will never be minted. Some will be bought back by the Team and burned.
Thus, we expect only a minority of initial key owners to be persistent enough to finish the space race before the Elysium launch.
When will the keys have value?
Keys will have utility until the first pioneer finishes the race. After this point, the minting and staking will be closed and the Team will stop keeping the price floor.
This will happen not long before the launch of Elysium's MainNet, which is estimated to be in Q3 2024 - see Roadmap for more details.
Why does the Team need so many keys?
In addition to supply, the market price is also affected by demand. We keep 16.6% of keys as a reward for marketing events aimed to attract new users. We will distribute them carefully to avoid a sharp increase in supply on the secondary market. It is in our best interests since we will need to buy back these keys if their price falls below the floor.
According to our estimation, we will not use all our marketing keys - those that will leave undistributed when the first pioneer finishes the race will be burned by the Team.
Last updated
