Psychedelics Anonymous Launches 'PSY' Claim
Psychedelics Anonymous introduced its new ecosystem currency, PSY, over the weekend.
The Deets:
- PSY is the currency of the Psychedelics Anonymous ecosystem
- Users must answer Australian GST Tax questions truthfully during the claiming process
- PSY Point Terms outline rights and requirements for the currency
- ERC20 token may replace the current system, with points matched 1:1
- Connect all wallets that held Psychedelics Anonymous assets to claim points
The Details
To claim PSY points, users will be required to answer a few Australian GST Tax questions, ensuring the organization can uphold its legal and financial obligations to Australia.
By agreeing to the PSY Point Terms, users will acknowledge the rights and requirements associated with the new digital currency. Although the current system is not an ERC20 token, Psychedelics Anonymous plans to match all PSY points 1:1 if they are allowed to launch an ERC20 token in the future.
To claim PSY points, users should connect every wallet that has ever held a Psychedelics Anonymous asset, not just those that currently hold a PA NFT.
❗️Why It Matters
Psychedelics Anonymous joins the growing list of NFT ecosystems hoping to reward its community and holder base via an ecosystem "currency." The key difference thus far, is that PA is committed to working within Australia's regulatory framework and thusly is not immediately issuing an ERC-20 token to PSY Points claimers. Kanpai Pandas recently committed to rewarding its holders with Panda Points in a similar fashion, not requiring the deployment of an ERC-20 token. Nevertheless, PA did not rule out the potential for a PSY token in the future, assuming it is legally permitted.
Interestingly, PA has also chosen to reward all those who have helped contribute to its existing state, not just current holders. That's right, any wallet that ever minted or held a Psychedelics Anonymous NFT (of which there are multiples) is eligible to claim PSY. This should significantly widen the net of PSY owners and also avoid any groans from past community members that may have exited on recent founder drama.
📊 By the Numbers
The Psychedelics Anonymous Genesis NFT collection has fallen 94 percent in the last year. It currently holds a floor price of 0.18 ETH.
🎬 Take Action
To claim your PSY points, visit psychedelicsanonymous.com and connect all wallets that have ever held a Psychedelics Anonymous asset.
