Use and Loot
In the recent preparatory period for the launch, our team has extensively evaluated various mechanics that can effectively incentivize and reward our most early and dedicated users.
Our overall incentive and token distribution program is guided by the following principles:
Rewards and incentivizes early and loyal users
Sybil resistant and promotes organic, genuine user activity and conversion
Wide distribution with no insider allocations
In alignment with these objectives, we are pleased to announce our "Use and Loot" campaign – a retrospective lootdrop program.
What exactly is the "Use and Loot" campaign?
This mechanism involves airdropping lootboxes to select addresses based on their recent usage of various protocols and level of engagement on the Base blockchain. Participants can unlock these boxes by using the Limitless protocol and earn LMT points to unlock these boxes.
The boxes will reward users with varying amounts of $NZT tokens (see below) when unlocked.
What is the $NZT Token?
The $NZT Token serves as Limitless’ preliminary token, which will be released ahead of our official token generation event. $NZT pays homage to the ‘smart pill’ featured in the movie similarly titled ‘Limitless’.
$NZT can only be earned from unlocking lootboxes during this 6 week incentivisation phase(commencing with our launch), and the entire supply of $NZT will be fully released at the end of the incentivisation phase. Any unclaimed $NZT at the time of release will be burnt.
During this incentivisation phase, $NZT will not be transferrable.
$NZT will confer eligibility to the holder to either acquire or receive the native governance token $LIMIT in the future.
Distribution of Lootboxes and Unlock Criteria
Participants shall be able to unlock the lootboxes by earning LMT points via usage of the Limitless protocol.
The selection of addresses is determined by the level of engagement recorded in Base and our partner protocols. Airdrop recipients will receive a total of 20 lootboxes, with 1 lootbox being unlocked, and the other 19 are locked. Recipients can unlock these locked lootboxes by earning LMT points (earned by using the Limitless Finance protocol). Every 5000 LMT points earned will unlock 1 lootbox.
Therefore, assuming an airdrop recipient earns 50,000 LMT points, they would receive in total:
1 unlocked lootbox from the airdrop
Unlock 10 additional locked lootboxes (with 14 boxes remaining to be unlocked)
For non recipients: Users who missed out on qualifying for the airdrop shall also be eligible to earn unlocked lootboxes with usage of the Limitless protocol during this incentivization phase. Every 10000 LMT points earned will earn the user an additional unlocked lootbox. These boxes will be dropped everyday.
Example: A user who missed out on the qualifying criteria for the airdrop would receive 5 unlocked lootboxes for 50,000 LMT points earned.
Summary
All recipients have 6 weeks, starting from launch date, to loot their boxes.
Every lootbox airdop recipient can loot one box for free.
For every 5000 LMT, recipients can loot one box.
For every box looted, the looter will receive a random amount of NZT tokens. The mean of the random range will decrease over the phase.
NZT tokens will remain untransferrable for 6 weeks.
If an address has 0 boxes, the owner can earn 10000 LMT to add one box.
A box can be added only if the recipient has 0 boxes
A box will be unlocked immediately.
This incentivization period will last 6 weeks, after which the NZT tokens will be made transferrable and liquid.
Please note that this incentive program is highly experimental.
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