What are OWNDex and GenDex?
The perks and privileges within the One World Nation ecosystem are intricately linked to the ownership of NFTs. The ownership indices are a quantitative and qualitative measure of the ‘power’ of ownership.
They provide a simplified framework for distributing access and privileges within the ecosystem.
There are two types of ownership indices:
While the OWNDex is a base leveling system which unlocks 'accessibility' features, the GenDex offers 'premium' features and 'exclusivity'.
As mentioned above the ownership indices measure the power of ownership - but what exactly does that mean you ask?
Both indices measure:
- Number of NFTs owned
- NFT holding period (continuous)
Your score is the cumulative total of the continuous holding period of every NFT in your OWN wallet.
- Each day spent in the OWN wallet contributes to 1 point
- The points allotted to BNPL NFTs depend on the percentage of ‘partial ownership’
- Genesis NFTs contribute to an additional 25% bonus to your OWNDex score.
Example of how OWNDex score calculation
Like your OWNDex, your GenDex score is also the cumulative total of the continuous holding period of NFTs. However, your GenDex is exclusive to Genesis (Gen 0) NFTs.
This means even if you have a high OWNDex score, if you do not own any Genesis NFTs - your GenDex will be zero.
Example of GenDex score calculation
Lastly, the frequency of points update depends on whether you bought the NFTs directly from the Marketplace or through P2P transfer.
NFTs bought from the Marketplace update daily, while those bought or transferred through external sources update weekly.
Each of the OWNDex and GenDex scores are mapped to a corresponding Level. These levels go from 0 to 20 and indicate the strength of OWNership of your account
Mapping of level to OWNDex/GenDex score
As you climb the levels you unlock the corresponding benefits.
The level progression follows a logarithmic pattern which means each level is progressively harder to achieve than the previous one.
The rewards you get at each level also follow the same logarithmic fashion thus making it more and more significant as you level up.