Sype Whitepaper

Abstract

Sype is a decentralized token protocol deployed on the Shibarium blockchain, designed to incentivize NFT ownership through a unique mining mechanism. By verifying eligible NFTs, users can mine SYPE tokens at a rate of 50 SYPE per block per verified NFT, with a maximum of 200 NFTs per address. Sype leverages the efficiency and low-cost transactions of Shibarium to create a seamless and rewarding experience for NFT holders, fostering community engagement and economic activity within the Shibarium ecosystem.

Introduction

The rise of Non-Fungible Tokens (NFTs) has transformed digital ownership, enabling unique assets to be traded and collected on blockchain networks. Sype introduces an innovative approach to NFT utility by allowing holders to mine SYPE tokens, a native ERC-20 token on Shibarium, through NFT verification. This whitepaper outlines the vision, mechanics, technical details, and roadmap of the Sype protocol, deployed at contract address 0xFFEb27BEA680feDEcaB3D45c8273ab438cb820CA.

Shibarium: The Foundation

Shibarium, a layer-2 scaling solution for Ethereum, offers low transaction fees and high throughput, making it an ideal platform for Sype. By leveraging Shibarium’s infrastructure, Sype ensures cost-effective interactions for users, enabling widespread adoption of its NFT mining model.

Tokenomics

SYPE Token

SYPE is an ERC-20 token with the following specifications:

Name	Shibarium Hype
Symbol	SYPE
Decimals	18
Maximum Supply	1,000,000,000,000,000 SYPE
Initial Supply	0 SYPE
Contract Address	0xFFEb27BEA680feDEcaB3D45c8273ab438cb820CA

All SYPE tokens are minted through the mining process, starting from an initial supply of zero. Tokens are generated from the zero address (`0x000...000`) upon reward claims, ensuring a fair and decentralized distribution.

Mining Mechanism

• NFT Verification: Users verify ownership of eligible NFTs (from the NFT contract at 0xEe9759A75364AFe3385e01Fa530d529bFE9Db7B2) to participate in mining.
• Reward Rate: Each verified NFT generates 50 SYPE per block.
• Limit: Each address can verify up to 200 NFTs.
• Dynamic Verification: Upon NFT transfer, the new owner must re-verify the NFT to claim rewards, invalidating the previous owner’s verification.

The total supply is capped at 1 quadrillion SYPE, ensuring long-term sustainability. Rewards are minted only when claimed, preventing premature inflation.

Core Features

NFT-Based Mining

Users interact with the Sype smart contract to verify their NFTs. The contract checks:

• Ownership via the NFT contract’s `ownerOf` function.
• Eligibility based on a predefined whitelist managed by the contract owner, including addresses like WoofSwap (0x2F3d45EA2E14A384fb9f1314b65Daa05035c91FD).
• Compliance with the 200-NFT-per-address limit.

Once verified, the NFT begins generating rewards at 50 SYPE per block until the NFT is transferred or the maximum supply is reached.

Reward Claiming

Users can claim accumulated rewards at any time by calling the `claimRewards` function. Rewards are calculated based on the number of verified NFTs, blocks since the last claim, and the reward rate. Claimed tokens are minted from the zero address, ensuring transparency.

NFT Transfer Handling

When an NFT is transferred, the new owner must call `verifyNFT` to start mining rewards. The previous owner’s verification is automatically removed, ensuring rewards follow the current NFT holder.

Query Functions

The Sype contract provides robust query capabilities:

• User Information: Retrieve balance, verified NFT count, pending rewards, and last claim block via `getAddressInfo`.
• Verified NFTs: List a user’s verified NFTs with `getVerifiedNFTs`.
• All Verifications: Paginated query of all verified NFTs using `getAllVerifiedNFTs` and `getAllVerifiedNFTsCount`.

Technical Details

Smart Contract

The Sype contract is implemented in Solidity (version ^0.8.20) and inherits from OpenZeppelin’s ERC20, Ownable, and ReentrancyGuard libraries for security and standardization.

Contract Address	0xFFEb27BEA680feDEcaB3D45c8273ab438cb820CA
NFT Contract Address	0xEe9759A75364AFe3385e01Fa530d529bFE9Db7B2
Blockchain	Shibarium (Chain ID: 109)
Standard	ERC-20 (SYPE), ERC-721 (NFTs)

Security Features

• Reentrancy Protection: Uses `ReentrancyGuard` to prevent reentrancy attacks in `verifyNFT` and `claimRewards`.
• Ownership Control: Whitelist management is restricted to the contract owner via `Ownable`, with addresses like WoofSwap whitelisted.
• Supply Cap: Minting is capped at 1 quadrillion SYPE to prevent overflow.
• Input Validation: Ensures NFT ownership and whitelist status before verification.

Gas Optimization

The contract optimizes gas usage through efficient array operations (e.g., swapping and popping for removals) and paginated queries to reduce on-chain data retrieval costs.

Roadmap

• Q2 2025: Deployment of Sype contract on Shibarium, initial NFT whitelist setup, and DApp launch for user interaction.
• Q3 2025: Expansion of NFT whitelist to include additional collections, integration with Shibarium ecosystem partners.
• Q4 2025: Introduction of community governance features, enabling SYPE holders to propose and vote on whitelist updates.
• 2026: Exploration of cross-chain compatibility and enhanced reward mechanisms to sustain long-term engagement.

Current Whitelist

• WoofSwap 0x2F3d45EA2E14A384fb9f1314b65Daa05035c91FD
• Shibababy*shib 0x22aeE3587E7727B086d4311F83cfC10649B6a1ef
• Mazrael.Shib 0x2EFA87B704D8Ec63FDD58D7e568aeC24c51bb800
• Shibizens 0x86c0b9b3c429e69Be7789281Ac2808D39e267330
• Lucie 0xDAef769A1cB8B9FcBEC554aBB461755686040809

Conclusion

Sype redefines NFT utility by transforming digital collectibles into productive assets through a decentralized mining protocol on Shibarium. By incentivizing NFT ownership with SYPE rewards, Sype strengthens the Shibarium ecosystem, encourages community participation, and sets a precedent for innovative tokenomics. We invite NFT holders to join the Sype ecosystem and start mining the future of Shibarium.