Initial Funding Event
Planned to take place on: TBA
The primary goal of the Initial Funding Event (IFE) is to raise money for the initial development, operation, and marketing of Questfall by selling 75% of the total supply of Founder NFTs to the public, while keeping 25% for the Team.
Depending on the rarity tier, of which there are six, each Founder NFT contains a certain amount of Founder Points, which are used to distribute the founders' share of the weekly QFT issue. Since the total supply of each rarity tier is limited, the maximum amount of Founder Points is also limited and cannot exceed 2,602,200.
On the one hand, the number of available NFTs decreases by half with each tier and their price doubles respectively. On the other hand, the amount of Founder Points contained in each NFT increases by x2.243. In this way, the higher tiers receive a discount on the price per Founder Point they contain.
Common (F)
100
800
2400
$100
0%
Uncommon (E)
224
400
1200
$200
10.71%
Rare (D)
502
200
600
$400
20.32%
Epic (C)
1126
100
300
$800
28.95%
Legendary (B)
2526
50
150
$1600
36.66%
Mythical (A)
5666
25
75
$3200
43.52%
The maximum number of Founder NFTs that can be minted during the IFE is 6300: 1575 by the Team, and 4725 by the public.
As a result, the total amount of money that can be raised during the IFE is limited to $1,440,000, but since there is a referral program that gives a 10% discount on the price of NFTs and 15% of the full price as a reward to Ambassadors, the final amount that the Team can actually raise is limited to $1,080,000.
However, there is no low cap, as we will develop Questfall regardless of the final amount we are able to raise. We will launch the project even if we raise nothing, as we have already put a lot of effort into it and see a great potential in Deflationary Quest Mining.
This is why we limit the event to 3 days, because we see it as an opportunity for people to get on board, not for us to make as much money as possible.
Since any NFTs not minted during the IFE will never be minted afterward, the shares received by existing founders will increase proportionally. So in a sense, selling as few NFTs as possible is in the best interest of every founder (including us).
But of course we will do our best to attract as many founders as possible, because they bring not only money, but also decentralization, experience, connections, support and fresh ideas.
The Founders
Founders are people who have brought critical value to the project, without whom Questfall would not even exist, and therefore are rewarded with many benefits from the system.
All Founders are considered equal, and we as developers do not receive any special bonuses, as the benefits of being a Founder are automatically distributed by the system to each Founder NFT owner according to their share of Founder Points.
Passive Income for Life with Weekly QFT / NFT
The mining approach assumes that there is no other way to profit from the system other than receiving a portion of the token issuance. It can be compared to taking profits from a company as dividends in a traditional fiat money approach.
The 10% portion of the weekly QFT issue is distributed to all Founder NFT holders according to their Founder Points, which can be thought of as mining power.
To illustrate the financial results of becoming a Founder, let's look at the first year of Questfall.
Since a total of 1,412,159 QFTs will be issued in the first year, the Founder's share will be 141,217 QFTs. Considering that each NFT is minted during the IFE, the following income will be received by the owners of the various Founder NFT tiers, depending on the average price of the QFT during the year.
Common (F)
5.43 QFT
$5
$54
$271
Uncommon (E)
12.16 QFT
$12
$122
$607
Rare (D)
27.24 QFT
$27
$272
$1,362
Epic (C)
61.11 QFT
$61
$611
$3,055
Legendary (B)
137.08 QFT
$137
$1,371
$6,854
Mythical (A)
307.48 QFT
$307
$3,075
$15,374
Assuming that half of the circulating QFTs (706k) will be in the liquidity pool and half in the hands, there should be approximately $700k in the second side of the pool at the end of the first year for the price of the QFT to be $1. This price provides an annual percentage yield on the investment of approximately 10%, while the base NFT price is compensated in a different way (see the bonus below).
However, this estimate does not take into account the number of QFTs that will be burned during the first year, which directly affects the QFT price for the same amount of stablecoins in the pool. And since the low QFT price incentivizes QFT burning, we actually expect the QFT price to be higher than $10 at the end of the first year.
Double compensation for NFT costs / NFT
We want a weekly QFT reward to be a real profit that can be considered independently of the cost of the NFT itself.
To accomplish this, we include in each NFT the amount of Gold necessary to cover the price paid for the NFT on the IFE. Since Gold can only be withdrawn from the system at a market-based discount that is difficult to predict, we include 2x the cost of the NFT in Gold equivalent (1 Gold = $0.01).
Common (F)
$100
20,000
400 ($4)
Uncommon (E)
$200
40,000
800 ($8)
Rare (D)
$400
80,000
1,600 ($16)
Epic (C)
$800
160,000
3,200 ($32)
Legendary (B)
$1600
320,000
6,400 ($64)
Mythical (A)
$3200
640,000
12,800 ($128)
Since the large amount of Gold in the system can break a balance, the Gold Compensation will be released in equal parts over 50 weeks, or almost a year. In addition to the direct goal of compensation, this approach will also increase the price of Founder NFTs during the first year.
Founders Edition Loot Boxes / IFE Wallet
Each Founder NFT is granted a certain number of Founders Edition (FE) Loot Boxes. While regular loot boxes in the system are unlimited and available to everyone, FE Loot Boxes are limited and only available to Founders.
FE Loot Boxes have six rarity tiers. While the Common (F) FE Loot Box doubles the chance of getting rarer items compared to the regular loot box, higher tiers will guarantee getting the RPG item of the same rarity as the loot box itself.
Common (F)
F x 10
Uncommon (E)
F x 10, E x 1
Rare (D)
F x 10, E x 1, D x 1
Epic (C)
F x 10, E x 1, D x 1, C x 1
Legendary (B)
F x 10, E x 1, D x 1, C x 1, B x 1
Mythical (A)
F x 10, E x 1, D x 1, C x 1, B x 1, A x 1
FE Loot Boxes are not included in the Founder NFTs themselves, and will be available to Founders when Questfall launches by logging into the system with the wallet address used in IFE. This means that the loot box bonus will not affect the price of the Founder NFT.
However, since there will be no higher rarity RPG items in the system at launch, owners of the rarer Founder NFTs will be the only ones with rarer items for some time. This will allow them to gain an early advantage or sell these RPG items for a profit.
Free Leveling Up and Quest Promotion / NFT
In Questfall, there is another in-game currency besides Gold - Silver, which can be obtained through proper moderation or by burning Gold - every 1 Gold yields 10 Silver.
Founders will receive a certain amount of Silver, based on the rarity of their NFT, for the first 50 weeks after Questfall launches. And while Silver is non-tradable and non-withdrawable, Founders will be able to use it to gain an advantage on the platform through leveling up or quest promotion.
Common (F)
100,000
$100
2,000 ($2)
Uncommon (E)
200,000
$200
4,000 ($4)
Rare (D)
400,000
$400
8,000 ($8)
Epic (C)
800,000
$800
16,000 ($16)
Legendary (B)
1,600,000
$1,600
32,000 ($32)
Mythical (A)
3,200,000
$3,200
64,000 ($64)
Having free Silver each week will give Founders a noticeable advantage, whether they choose to complete quests or promote their own project to the Questfall audience.
Free Gems to Upgrade Clothing / IFE Wallet
Each IFE participant will receive Gems of all rarities not higher than the rarity of the NFT.
Common (F)
F x 1
Uncommon (E)
F x 1, E x 1
Rare (D)
F x 1, E x 1, D x 1
Epic (C)
F x 1, E x 1, D x 1, C x 1
Legendary (B)
F x 1, E x 1, D x 1, C x 1, B x 1
Mythical (A)
F x 1, E x 1, D x 1, C x 1, B x 1, A x 1
This allows founders to sell their Gems for Gold or QFT, depending on their tier, or to apply them to their own clothing to increase its rarity.
Long-term NFT Price Increase / NFT
The 1% portion of the weekly QFT issuance is used by the system to buy back and burn Founder NFTs through the auction mechanism based on Founder Point price bids.
This means that the amount of Founder NFTs in circulation will decrease over time, increasing the weekly QFT reward for each remaining Founder. This also means that the price of Founder NFTs will increase over time.
Furthermore, at some point in the future, only one founder will remain, and that founder will be able to sell the last NFT at any price he or she is willing to wait for, as the unused QFTs in the auction accumulate each week.
Private Founders Club / NFT
The founders of the higher tiers (C, B, A) will have access to the Team's private group, where they will be able to influence the development of the project and receive advance notice of upcoming events.
While this bonus may not seem very valuable to investors who only care about money, the Founders Club will be priceless to those who see the bigger picture and the potential impact that the ideas and approaches implemented in Questfall will have on the entire crypto space and society.
The Ambassadors
The IFE referral program allows influencers, community managers, and even regular users to make quick money by attracting potential founders to the event.
On the one hand, users who want to become a Founder will receive a 10% discount on the Founder NFT price if they use an Ambassador's referral code.
Ambassadors, on the other hand, will receive 15% of the full NFT price immediately as the user's transaction will be split into two payments: one for the Team and one for the Ambassador.
Common (F)
$100
$90
$15
$75
Uncommon (E)
$200
$180
$30
$150
Rare (D)
$400
$360
$60
$300
Epic (C)
$800
$720
$120
$600
Legendary (B)
$1600
$1440
$240
$1200
Mythical (A)
$3200
$2880
$480
$2400
A total of $216,000 will be distributed to the Ambassadors, who will also have the opportunity to increase their reputation in their communities, as projects like Questfall do not come along very often.
Last updated