SHOW OFF YOUR STASH: Yuga Labs Debuted Its New 'Your Stash' Program. Here's What You Need To Know:
The Web3 space is green with envy as Yuga Labs showed off its 'Your Stash' initiative, which will make it easier for CryptoPunks’ holders to wrap and unwrap their pixelated PFPs today and will connect all of Yuga Labs’ NFT projects in the near future!
On Wednesday, Yuga Labs’ 0xQuit took to Twitter and announced the ‘Your Stash’ initiative, “a series of interconnected contracts that unlock new possibilities across our projects, in a 12-part-thread.
In his post, Quit explained that Punks were going to be the first Yuga Labs collection to access their ‘Your Stash’ program. By doing so, CryptoPunks holders will be able to wrap their Punks in a new CryptoPunks721 (Ͼ721) contract. This new contract will make it easier for Punks to wrap and unwrap their NFTs as needed and reduce gas fees.
Cosmetically, CryptoPunks that are wrapped in this new C721 contract will have a green background!
As CryptoPunks begin utilizing the c721 contract, Quit teased that this is only the beginning, if the Punks community is interested!
“This is only the start, he tweeted. “The team and I have already kicked around so many other ideas, and I expect even more ideas will come from the community. Your Stash will evolve and improve over time (if you want it to).”
While the ‘Your Stash’ program’s main benefit for CryptoPunks today is a better wrapping and unwrapping experience, this initiative will lead to a lot more, ‘cool things’ according to Quit.
“The major benefit for Punks721 is simply convenience (interface, smol gas, etc), but the broader set of contracts can unlock a lot of cool things.”
Following Quit’s tweet, many BAYC members began to speculate that Yuga Labs could use these new 721 wraps on all Yuga Labs assets to protect royalties.
“Nice work. Maybe next wrapper for all @yugalabs assets,” BAYC member Ox_Ditto tweeted.
To protect royalties and prevent or return stolen assets. As we’ve seen with recent hacks . I had a mutant stolen and it sucks watching scammers getting loans and staking my stolen asset.”
The Bored Ape Gazette is working to bring you continued coverage of the ‘Your Stash’ initiative and will let you know which collection Yuga Labs introduces into the program next. Stay tuned for updates!