Timechain DEX launches unique NFTs, Crypto Cups, to boost earning opportunities for users

Timechain, a Canada-based regulated financial app offering a decentralized exchange (DEX) aggregator, has announced the launch of its genesis mint of NFTs, Crypto Cups, on Thursday. The line of NFTs aims to boost the utility value on Timechain’s DEX to users and stakers by providing new yield earning techniques.

Announced, Wednesday, the Crypto Cup NFT collection will feature 10,000 Crypto Cups with six visible traits and a unique skill as the seventh trait, which will distinguish the NFTs by their rarity. Each Crypto Cup can be common, rare, epic, legendary, or unique. The genesis mint will be reserved for private whitelisted participants while the rest of the NFT assets will be distributed via a public sale, 24 hours following the end of the private sale. The Crypto Cups will be revealed once they are sold out, or one week after the public sale.

The Crypto Cups NFT came to life in a weird way within the Timechain Labs, a statement from the team confirms. Speaking on the launch of the NFTs, Louis Cleroux, CEO of Timechain said the idea “just found us” hence the need to build them and “let them see the light on Ethereum and Fantom”. At launch, the Crypto Cups collection will be minted exclusively on Ethereum with future collections planned for Fantom (as mentioned), Terra, Polygon, and Solana.

To incentivize early participants on the Ethereum private and public NFT drops, Timechain will reward holders of at least three NFTs with one on Fantom for free. Notwithstanding, early participants also have the possibility of receiving ban ultra-rare Crypto Cup serum, a piece said to be related to the Timechain Labs scientist who spilled his coffee on his computer, accidentally summoning the Crypto Cups idea.

“This is a unique collection designed with special utility for TimechainApp users, but we also believe that holders will enjoy the art. Looking forward to the mint day!” added Cleroux.

Launched during the DeFi boom period, Timechain DEX aims to provide users with a multi-chain DEX aggregator connecting various DExs on its platform. This allows users to search for the best swapping rates, most efficient routes, and cheap platforms across the Fantom, Ethereum, and Binance Smart Chain-based DEX ecosystems. Apart from its aggregator, the platform also offers a range of DeFi-related high yield earning opportunities such as supplying liquidity, staking, and farming.

Crypto Cups will be the latest yield earning opportunity on the platform. The NFTs are designed with utility in mind, offering “boosts” within the Timechain ecosystem. By staking Crypto Cups NFTs in the app, users can earn additional daily TCS tokens, in addition to boosting their rewards rate by 1% on TimechainApp assets. Furthermore, users can stake the $TCS rewards received to compound their earnings or use them to participate in governance on the DEX platform.

The rarer the NFT, the more capital is eligible for the boost, starting from $10,000 for common NFTs and up to no cap for legendary and unique cups. The bonuses can be stacked as well, so 10 common NFTs are equivalent to one rare, and thus offer a 1% boost on accounts up to $100,000 in value.