Party Pass NFT

Governance mining NFTs to incentivize participation

Party Passes are what we call a Governance Mining Asset (GMA). A GMA is any asset that incrementally increases the holder's governance power through active participation. In this case, the Party Passes are non-fungible token bound accounts (ERC6551) that accrue ERC20 FAVOR tokens on a linear scale.

It requires constant interactions by Party Pass holders to claim the FAVOR tokens in order to increase voting power. Once claimed, FAVOR tokens are non-transferable, locked within the Party Passes. FAVOR Token issuance is automated by a smart contract owned by PartyNode DAO.

Secondary Markets

While FAVOR tokens are non-transferable, locked within the Party Pass NFTs, the NFTs are freely tradable on all major secondary NFT markets.