Tokenomics

Le Saphir tokenomics are nearly identical to Le Diamant, except ex-owners are airdropped a traditional NFT they can hold onto forever.

Overview

The Le Saphir CS-NFT is perpetually relisted at a 15% increased price from the last steal price. If you pay the current steal price, the NFT is transferred to your wallet and you get to hold this art piece. When Le Saphir is stolen from you, your steal price is added to your bank account in the contract. You can now withdraw that ETH and be made whole on your investment. Additionally, a unique and unstealable Shadow of Saphir NFT is minted and airdropped to you. This Shadow of Saphir is one black and white still frame from the Le Saphir art. This traditional NFT also serves the purpose of keeping track of who the previous owner is. If you are holding this newly minted Shadow of Saphir when Le Saphir is stolen for a second time, another 10% of your steal price is added to you bank account in the contract. This means after two steals, a total of 110% of your steal price will be available for withdrawing, along with your 1/1 Shadow of Saphir NFT that can be held indefinitely.

Mechanics

The current steal price is always 15% over the last steal price. When you pay 115% to steal Le Saphir, where does this money go? First, the current owner is paid back in full. With the remaining 15%, 10% is paid to the ex-owner and 5% is paid to the artists. You also mint and airdrop the Shadow of Saphir NFT to the current owner.

When Le Saphir is stolen, where does the money go?

Example

Say Charlie was the 10th owner of Le Saphir. Alice then paid a steal price of 1 ETH to steal it from Charlie and airdropped him the Shadow of Saphir #9. Alice is now the current owner of Le Saphir. Bob decides to pay the current steal price of 1.15 ETH:

1. Current Owner Payment of 1 ETH paid to Alice

2. Alice airdropped the Shadow of Saphir #10

3. Ex-Owner Payment of 0.1 ETH paid to Charlie

4. Artists Payment of 0.05 ETH paid to artists

Secondary Market Exchanges

Both the Le Saphir CS-NFT and all Shadow of Saphir NFTs can be exchanged on secondary exchanges such as OpenSea. When Le Saphir is stolen, the Current Owner Payment and the Ex-Owner Payment are paid to the current holders of Le Saphir and the most recently minted Shadow of Saphir. This means whoever is currently holding Le Saphir at the time of the steal, will have the full Current Owner Payment added to their bank account. Likewise, the Ex-Owner Payment is added to the bank account of the current holder of the most recent Shadow of Saphir.

After selling the Le Saphir or a Shadow of Saphir on a secondary-market, the money in your bank account will remain untouched and continue to be withdrawable.

UI when connected to an account that has money to withdraw

When connecting the marketplace to a wallet, the website will determine if this wallet has a non-zero bank account balance. If there is money in your bank account, a withdraw button will appear for you to submit a withdraw transaction to the blockchain that transfers all of these funds into your wallet. This withdraw transaction will cost gas fees. Waiting for both your Current Owner Payment and your Ex-Owner payment before withdrawing could save you on gas fees.