Harvest Day
Last updated
Last updated
On harvest day, when the chicken reaches maturity, the current price is compared to the strike price of the option. The chicken will be healthy if the option is profitable. In rare cases when the % delta between current price and strike price is small, the premium paid for the option may be higher than the eventual value resulting in a net loss.
Healthy chickens can be immediately harvested to receive its value in ETH. Harvesting a chicken represents taking profit from the options position. After harvesting a chicken NFT, the NFT is burnt permanently.
Unique to PokPok, healthy chickens can also be staked in the farm to lay golden eggs ($PEGG). $PEGG is a rewards token that will have utility gradually introduced. Only healthy chickens can be staked for Golden Eggs. Users would have to evaluate whether it would be worth accumulating healthy chickens for farming Golden Eggs or harvesting them and rolling profits into creating a larger number of healthy chickens (trading more options).
On the other hand, diseased chickens are unprofitable and have zero ETH value. They can, however, be burned to return a small amount of $PEGG tokens.
