Congrats to our frens at the Stoned Ape Crew for breaking 100 SOL floor price! With such an innovative suite of utilities, it is no wonder why this project is so successful. Interestingly enough, it still flies under the radar on NFT Twitter. Undervalued? We’ll let you decide. Although we missed this parabolic increase in the NFTs, we have discovered a way to generate passive income with the Puff Token. This is the native utility token of the project, and it is proving to be extremely resilient under such harsh bear market conditions. Below we detail a brief overview of the project and a how-to guide on how to make passive income by hopping on the bandwagon of one of the most coveted NFT brands on the Solana ecosystem.
What is the Stoned Ape Crew NFT?
First, let’s see what the Stoned Ape Crew (SAC) project is about. If you are familiar with the matter, you can go ahead and skip to the next section. For those that don’t know, here are the basics.
According to Magic Eden‘s description, the project is based on:
4200 Stoned Apes Form The Genesis Collection In The Crew With 4 Roles, Allowing Staking For Daily Rewards Of Our Utility Token $PUFF, An NFT Evolution Process With Token Burning Mechanics And More Dope Real-World Utility. More Than Just Your Typical PFP Project.
Four roles mentioned above include Scientists, Business Guys, Farmers & Artists. There is also a “Chimpions” role (for the normies) mentioned on the website.
The roadmap and utilites of the project will have to wait until the next article, there are just way too many. Which would explain why each NFT is about 100 SOL now.
See for yourself:
Recently, the SAC team released the next generation of their NFTs, the Nuked Apes a few weeks ago. They are currently trading on Magic Eden for about 33 Sol. Will also write another article on those (probably when they hit 100 Sol floor price). For now, you can follow along using their social links:
Magic Eden: SAC
Discord: Stoned Ape Crew
Onto the $$$!
Passive Income Through Staking
Next, it is time to see how these NFTs can make you money. To start, we will discuss how to generate passive income through staking if you are a holder or would like to become one. Just keep in mind, these are quite expensive NFTs, currently sitting at around $9000 USD each. So please do your own research and math if this math makes sense for your objectives.
To simplify the process, the SAC team has designed a basic outline of how staking works and how much staking your NFT can generate.
Essentially, each Chimpion receives 15 $PUFF tokens/day and the Role-Based NFTs receive 30 $PUFF/day. Currently, the price of $PUFF is sitting at 0.85c, up about 250% since launch.
That sounds pretty bullish to me…
So, if you bought one of these a while back for a couple hundred USD, you’d be making about $12.75/day at current prices on the Chimpions, and $25/day on the Role based ones. In the crypto space, those are some incredible numbers. Not to mention the fact that you are sitting on about 100 SOL for each NFT you own.
Passive Income Through Farming
For those who cannot afford a 100 SOL NFT, do not worry! There is another option, with a much lower cost to buy in. It is called farming! For those that are unfamiliar, I highly suggest you read this article. It details everything you need to know about how to get started with farming, specifically on Raydium.
To cut the time down for getting involved, I will simply lay out the steps required to generate passive income from farming $PUFF on Raydium. As always, please make sure all the links you are visiting are OFFICIAL Raydium links. Do not get scammed!
Steps to glory:
- Load up your Phantom, Slope or other compatible Solana wallet with $SOL
- Go to Raydium Swap and connect your wallet on the top right.
- Swap SOL for equal amounts of USDC and PUFF
- Navigate to the Farms tab. Should look like this:
5. Click the left highlighted option for “PUFF-USDC LP” This should take you to the Liquidity tab. Load up the MAX amount on both sides, but make sure you have enough of each coin. Click “Add Liquidity” on the bottom, then confirm the transaction using your Solana wallet. It should pop up immediately.
6. Once the LP token is created, simply go back to the Farms tab and locate PUFF-USDC.
Open it up and click “Stake LP” then confirm with your wallet.
Give it a minute, and you should be good to go! You can now start collection about 450% interest at the time of this writing!
Let us know on Twitter if you have any issues or questions.
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