REVV Motorsport F1® Delta Time Asset Swap Update
Since the regrettable shutdown of the F1® Delta Time game and website, the team at REVV Motorsport has been hard at work preparing the path ahead for owners of F1® Delta Time NFTs.
You can read the original announcement here. Below you will find additional important details.
If you want to divest yourself of your car NFTs, you can do so by converting them to Race Passes. Race Passes allow you to participate in staking programs that have high rewards, and to participate in exclusive airdrops and minting events.
If you plan to keep your F1® Delta Time car NFTs as collectibles or to use them elsewhere, you can do so and will still be entitled to receive replacements. Unopened Keys and Crates can be converted into assets that are stakeable to earn Shards (SHRD). All other F1® Delta Time NFTs (other than cars) can be exchanged for new REVV Motorsport utility assets.
Below is more detailed information about the assets being offered, the Race Pass staking, and the method of the swap.
Mechanics of the Asset Swap
The asset swap is not an automated system. Instead, we will monitor the assets sent to a specific Ethereum address, and based on what that address receives, the applicable assets will be minted and airdropped to the senders of the NFTs.
Assets can be sent directly to the following address, until further functionality is added to the REVV Motorsport website:
Note: although REVV Motorsport can be used to send the assets, and will support bulk transfer, the receiving address will always remain the same. DO NOT SEND YOUR ASSETS TO ANY OTHER ADDRESS!!
REVV Racing Car Airdrops
There are a total of 90 new car variants being airdropped to existing F1® Delta Time car owners. The metadata of the NFTs, and the visuals of the cars are different based on the rarity and season of the car. Owners of F1® Delta Time 2019 First Edition cars, which consists of unique cars, will receive a new car with unique attributes and a minor increment on the car’s stat lines. Below are some examples.
Note, the final metadata is subject to change.
Original Car: SF90 (2019 Season)
Original Car: RB15 “First Edition” (2019 Season)
The airdrops are scheduled to happen during May 2022. The utility in REVV Racing is scheduled to be provided for June, 2022. As REVV Motorsport assets, these cars will also be supported across the wider REVV ecosystem in the future.
Proxy Asset Types
Proxy assets provide replacements for F1® Delta Time drivers, parts, gear, tyres, and event segments. A proxy asset is an NFT that can later be used to redeem, mint, or swap for another REVV Motorsport asset of the same type. The proxy assets include 2019 and 2020 versions, as well as the rarities. Below are some examples.
Original Asset: 2019 Brakes
Original Asset: 2020 Suspension
Original Asset: 2020 Helmet
Driver Proxy Assets:
Original Driver: Romain Grosjean
Original Driver: Talon
The Race Pass
The Race Pass is received when the owner swaps any of the F1® Delta Time cars from Common, Rare, Epic, Legendary and Apex. The metadata includes the season, so this can be considered where applicable for rewards and airdrops.
Race Pass Staking
Staking will begin at some point after the swap period ends on 30 June 2022 (but not immediately after). The staking period is currently expected to last 6 months or longer, but this is subject to change. The final duration will be announced closer to the release of staking.
Note: A staked Race Pass does not impact any airdrops for the holder of the Race Pass.
The initial staking pool is 20,000,000 REVV. The below table presents a scenario for earnings based on the current circulating supply of cars and corresponding Race Passes all being staked at the same time, for the total duration of the staking event. This is the minimum amount you can expect to earn if you stake your Race Pass for the full period.
2020 Keys and 2019 Crates
These assets will remain on Ethereum (they will not be bridged) and will be swappable Polygon ERC-1155 fungible tokens in the form of Staking Tokens. These Staking Tokens obtained from the swap will be stakeable, earning SHRD from a specific pool as originally announced. These are the only assets that will be able to access this pool of SHRD. The details on this will be provided in the future, after the release of the SHRD token in the coming weeks.
REVV Motorsport Swap Options and Airdrops
Initially, we are including REVV Racing assets and Formula E: High Voltage assets as swap options for proxy assets. But this will eventually include assets for the wider REVV Motorsport ecosystem. This applies to airdrops, mints and rewards for Race Pass holders.
Ultimately, we want to provide options to owners in how they may want to continue to engage in the REVV Motorsport ecosystem that we’re building. Owners always have the choice of holding on to their original F1® Delta Time assets if they choose to.
We are still in the early stages of extending utility and value to what has been swapped, and have a number of other initiatives in the pipeline that we feel will ensure that all owners of F1® Delta Time assets that want to participate, will be presented with a solid value option.
As always, we want your feedback and suggestions. You can reach the REVV Motorsport team across the following channels: