Baronar Shardbearers

This site is dedicated to purchasers of BARONAR SHARDS, which are representative of ownership of Genesis Plot -25, -30

TOKEN RULES AND PERCENTAGE STAKE REPRESENTED

Specifics below, here is a brief summary:

  • BRNR represents a fractional interest in Genesis Plot -25,-30 held by baronar
  • 100,000 BRNR has been issued representing 100% ownership thereof and voting rights
  • 80% of generated income (less 20% management fee) will be distributed pro rata
  • Final exit would be enacted by a sale of the pooled asset(s) on an open market

Fractional Ownership.

If you purchase BARONAR SHARDS (BRNR), you will receive fractional benefits related to the asset(s) identified as part of the baronar shard pool. The sole asset included in this pool is the Axie Infinity Genesis Plot located at -25, -30.

https://marketplace.axieinfinity.com/land/-25/-30

This is a unique digital land asset. It is presently one of only 75 in existence and it is one of only 220 total Genesis Plots that will ever be available in Axie Infinity.

PLEASE NOTE: It is required that you hold a stake of 0.5% (500 BRNR tokens) to be eligible to receive distributions.

This Genesis Plot was acquired by baronar on June 19, 2020. The intention of this pool is full transparency and entirely passive ownership by holders of BRNR. For purposes of sharding this asset, 100,000 BARONAR SHARDS were minted on the same date.* BRNR’s sole purpose is to reflect fractional ownership of this pool, presently consisting of only the Genesis Plot.

While this is not as rare as some of the other offerings, such as the Triple+ Mystic Part and Agamogenesis Axies, one advantage is that acquiring BRNR is expected to result in long term utilities for holders of the token.

Since the completion of Phase One, BRNR is not currently being offered. New information may or may not be coming.

Baronar has removed all liquidity from the BRNR pool and is considering other methods of potentially offering BRNR for acquisition.


RARIBLE PROMOTION DISCONTINUED.

Purchasers were rewarded Luna drops in Discord as a bonus. Thank you for your interest in my Rarible short story!


Management and Control.

The asset pool reflected by BRNR is managed entirely by baronar, which is necessary at this time in order to maintain effectiveness of and utility of the pool’s asset(s). In the event that another method of sharding in a more truly decentralized manner becomes reasonable (perhaps if offered by Axie Infinity itself), it will be considered. At this time this is an opportunity to take a fractional interest in baronar’s purchase of a genesis plot and strategic approach to genesis land game play.

At present, baronar intends to hold the majority of BRNR and retain a controlling interest with respect to voting. However, all holders of BRNR will have the right to vote on necessary proposals brought to the pool. Examples of such proposals may include land upgrades, Axie assignments, Land Item placements, etc. This would also include handling any rare drops that are generated by the land, which would remain attached to the land, have an agreed upon disposition or be sold on an open market. These votes will be on a pro rata basis of tokens held by any particular voter. At this time, and for the foreseeable future, mathematics dictates that 1,000 tokens is equivalent to 1% of the total voting power. A method for registering the votes of holders of the BRNR tokens will be established and implemented when release level (non-alpha/beta) landplay becomes available.

Management Fee.

The management of this plot will result in a 20% management fee to compensate for any activities necessary. For example, this plot may require management of a shop, dungeon, or other structure, or any other manipulation of land play interface that is necessary to collect rewards and/or generate income. The remaining 80% of the rewards will be distributed to the pool in accordance with pro rata ownership. It is anticipated that baronar will handle the management of the asset(s) held in the pool at this time and for the foreseeable future. baronar reserves the right to assign management in part or in full to a proven, competent Axie Infinity land player.

Generated Reward Distribution.

In addition to voting, rewards (resources, tokens, materials, LUNA, etc.) generated by the pool will be assigned in accordance with ownership of BRNR tokens. Depending on actual Axie Infinity land gameplay, rewards are intended to be distributed on no less than a monthly basis (unless an upgrade/purchase/build/etc. proposal is in effect). Timing of distribution periods will depend on several factors including rapidity of generated rewards, transaction fees and costs, potential Land Upgrades and purchases, and so on.

For example, if the plot generates 1,000 shells in a passive manner, 800 of those become available for distribution after the management fee. A holder of 1,000 BRNR would receive 8 of those shells (1% of 800 shells available for distribution) less any transaction fees (gas/mining/validator/etc., as applicable). Reward interests accruing to fractional owners that are not reasonable to distribute (i.e. the transfer cost of the transfer is not at least twice the value of the transfer), will be held until a reasonable distribution threshold is met. Also, fractional owners will have the option of delaying (accumulating) distributions in order to reduce value loss from transaction costs and fees. Transferring tokens or fractional portions of tokens to others could likely result in delaying/forfeiting distributions.

PLEASE NOTE: It is required that you hold a stake of 0.5% (500 BRNR tokens) to be eligible to receive distributions.

Distribution Timing and Accrual.

The intention for this token is that it will be similar to a validator stake. Tokens will return rewards over time based on performance of the pooled asset(s). It is expected that BRNR tokens will be made available for sale in several phases with an increasing value (assuming the value of the pooled asset(s) increases over time). Once purchased, tokens are freely transferable. However, rewards will be distributed in accordance with holders shown on the blockchain immediately prior to distribution (tracking or accrual between distributions will not take place initially and may never be instituted). In other words, don’t sell your BRNR tokens prior to a distribution event unless you want the new owner to get any accrued distribution rewards.

Phases and Token Sale.

PHASE ONE IS COMPLETE. Phase one was based on a value of 40 ethereum and 10% of the tokens were made available for purchase. The initial 10,000 tokens were made available for sale (representing a 10% stake in the pooled asset) were offered at the total price of 4 ethereum. Minimum purchases were for 1% stakes (1,000 tokens) at the value of 0.4 eth.

The next Phase will be based on a speculative value of no less than 50 eth. Any future Phase(s) will likely be handled through a Uniswap pool. Remember to carefully review the “Generated Reward Distribution” paragraph above before purchasing any BRNR.

PLEASE NOTE: You will be ineligible for distributions if you do not maintain at least an 0.5% stake (500 BRNR).

This opportunity is created as a relatively low outlay entrance opportunity for fractional ownership without being required to amass significant eth, allows for purely investment involvement (non-active) as management is handled by the land manager, reduces overall risk through fractionalization/shared ownership and is intended to generate passive rewards.

Final Exit.

The final conclusion of this endeavor will be handled by a sale of the asset(s) held in the pool that is represented by the BRNR token. Upon sale of the asset(s) held in the pool, the proceeds of such will be distributed to holders of BRNR pro rata. This will conclude the pool and, most likely, any usefulness for BRNR tokens.

Payment of a token holder’s share in the event of a final sale will require the return of tokens to the primary, issuing address:

0xDfC70F5205a2bC1bD44219fd852D720d7a36c5b8.

Then sale of the asset will only occur after a proposal and vote. However, token holders are reminded that baronar is likely to hold the majority ownership and, thus, have the final say on decisions after taking into account token holders’ opinions. In the event this sale becomes necessary, it will take place on an open market and every reasonable effort will be made to sell asset(s) at market price.

*NOTE REGARDING TOKEN CAP: This is technically a soft cap at this time. However, new BRNR will only be minted in the event that additional assets are added to this pool, which is not intended at the present time. New tokens will not be minted without full disclosure prior to minting and the proposal must be approved with a super majority vote of no less than 60% of the outstanding tokens.

Phase one information:

  • PHASE ONE COMPLETED.
  • Phase One purchasers are the Knights of the Baronar Shardbearers
  • The initial sale offered 10,000 BRNR for 4 ethereum (10% stake), phase one was computed on a 40 ethereum speculative value
  • Optional, time restricted buy backs will be available at 25% of original purchase price
  • This was not trustless or automated, it required interaction with baronar
  • baronar decided whether to allow you in the pool
  • After funds were confirmed, tokens reflecting your purchase were sent
  • baronar provided, as a surprise bonus, 10 LUNA for every 1% purchased
  • Purchases were as is and based fully on the buyer’s own diligence, caveat emptor.

Yes, this speculative value was slightly higher than present genesis floor (as of 7/12/2020) and represents a great deal of speculative value. Yes, this was also over three times baronar’s acquisition price of the genesis plot.

Applicable for Phase One KNIGHTS: Exit Option. BRNR will have an exit strategy for token holders who purchased in Phase One. Unfortunately, all opportunities come with risk. This is the case for BARONAR SHARDS. However, if you desire to have your tokens reimbursed by baronar, funds will be set aside to provide a near immediate buyback at 25% of the original purchase price of the tokens offered for this redemption. This is also intended somewhat as a hedge against the (originally) higher speculative value introduced by BRNR token ownership. The funds for this optional buyback will be set aside (be held) in the payment address that will be disclosed to purchasers. This is as close to a “guaranty” as seems reasonable to provide. This is only available if a stakeholder has at least a 0.5% stake (500 tokens minimum). Please note: this will not be available until 60 days after a full release of land gameplay by Axie Infinity. Other than this, there are no warranties, guaranties or assurances of any kind. Again, this is solely for participants of Phase One and only insofar as these Knights hold their originally purchased tokens. This option will also expire 6 months after the full release of land gameplay — at that point the situation will be clear.