The Story Of Bail Coin
“When DAOs become Powerful”
When a lot of creators of nft projects started multiple projects, it did prove that the NFT Industry works in a much faster rate than traditional methods of the Art Industry or the entrepreneurship combined.
The developers of Sol Patrol, stood true to the task. The responsibility and the depth to understand such complex mechanisms in data scaping was a task the team was up for and that gave the patrollers their true “USP” in the Solana and web3 community, the story of $bail plays an important role in binding all the project participants, and prove their accountability and action on the Solana blockchain.
$Bail from its origins was never “just another crypto coin”, as one of its main and distinctive features is to be able to bail out blue chip solana nfts, and the only way to earn $bail is to be a holder and participate with the community or buy them through Dexlab or Raydium.
A fully diluted market cap of 7.1+ million and a constant burning of coin supply based on a unique and intuitive method of active participation does really make it “Different”.
Some FAQs that give some more idea on what $bail is…
What is $BAIL and what drives the demand?
$bail is a utility token with no economic or monetary value and is simply used within the Patrol DAO ecosystem. When an user has earned enough $bail, the token rewards can be used to release locked up NFTs from the Jail. The NFTs placed in the Jail are bought using a portion of funds within Patrol DAO.
What are the tokenomics of $BAIL?
Currently 5B tokens are minted and 50% of the funds are used for Prison rewards, 15% is used to collect NFTs for the Main Jail, 10% is used for Sol Patrol buybacks, 10% is used for token liquidity, 8% for Marketing and 7% is for the team funds that is vested over 5-years. For the full tokenomics of $bail please visit the TOKEN webpage.
With 5B total supply, how will that affect price?
The total emissions of tokens is systematically released slowly. Approximately, 1–3M a week in total at the launch and will increase gradually over the next 5 years. The total was chosen so that the run-out for Patrol Prison extensive, as the total supply is capped and no future $bail can be minted. We do not expect to ever reach full run-out as the system will be revised and innovated as we continue to build.
Are you Burning $bail?
Yes, and a lot of it! We will be burning 100% of royalties generated from the Sol Patrol NFT collection and all funds collected from the Jail are burned.
Why is the earn bail functionality not working for me? Why does my multiplier show zero on the official Sol Patrol website earn page?
You must migrate the associated token account. Use the following link to fix on Raydium (https://raydium.io/migrate/).
What does the multiplier mean on the Earn $BAIL page and how does it calculate?
The multiplier is a summation of each whitelisted NFT and is pegged to the current fair market value according to that NFT’s collection. These values are weighed and summed to produce the multiplier displayed on the Earn $BAIL page. With our next website update, each collection’s multiplier will be displayed transparently for holders.
When and how often can I collect $BAIL?
Holders can claim $BAIL once a week on our website. The weekly claim is open for all holders every Sunday after 4am UTC until the next $BAIL allocation 7 days later.
How can I get more $BAIL rewards per earning period?
For immediate increased returns, buy more patrols or partnered projects off secondary. Currently: The Jungle, BASC and Geisha Clan. Of course, delist all of your patrols to get more rewards, but this, also, lowers our listed count and puts a further supply squeeze on our collection. As the founding team and community continues to add value, the Sol Patrol NFT collection’s fair market value will increase and so will $BAIL rewards.
How often can I post $BAIL?
There is no limit. As long as you have enough $BAIL you can post it at any time for an NFT from the Jail. For more Q/A please visit: https://www.solpatrol.io/faq