The NFT craze is all the rage right now, but the missing layer of utility is only just beginning to be tapped. ShoeFy has unlocked another layer in the NFT utility game and will be introducing it to the world shortly. Several projects have figured out the pairing advantages of staking NFTs in a pool to earn fungible tokens or regular cryptocurrency tokens, but ShoeFy is the first to introduce the NFT/FT pair for liquidity providing, bring liquidity to a previously illiquid market.
sNFT & sLP Definitions:
(n.) sNFT — s = artistic digital shoe + NFT = Non-Fungible Token
sNFT is the designation for the particular NFT collection native to the ShoeFy platform and part of the Elemental Shoe Collection, a unique collection of sNFTs divided into 4 main tribes, fire, water, earth, and air.
(n.) sLP Token — Liquidity pool tokens derived from the $SHOE/sNFT pairs debuting on the ShoeFy platform
sLP tokens are similar to LP tokens but are derived from pairing an FT/sNFT pair creating NFT liquidity and rewarding users with $SHOE tokens.
Stake sNFTs in the sNFT Pool and Earn $SHOE Tokens
For those that like to collect NFTs now, you can put them to work for you. With the sNFT from ShoeFy, you can generate passive income by staking your sNFTs in the sNFT pool, and earn $SHOE token rewards. There are 6 levels of sNFT available to be minted on the ShoeFy platform, and depending on the rarity of the sNFT staked will determine the value of the $SHOE tokens reward. In the sNFT collection, there will be 6,000 common, 2,000 unique, 1,000 rare, 500 epic, 300 legendary, and 200 individually named Mythic sNFTs.
ShoeFy Presents the World Premier Liquidity Pool Tokens Derived from NFT Pairs
NFT staking already exists, but ShoeFy has added an extra layer with the creation of NFT pairs. ShoeFy has paired the $SHOE tokens with their unique sNFT collection to form liquidity in an otherwise illiquid market. The pairs $SHOE/sNFT once added to the liquidity pool yield sLP tokens or shoe LP tokens. The sLP tokens can be staked on the ShoeFy platform and will pay rewards in $SHOE tokens.
With the implementation of two additional utilities to the Elemental sNFT Collection by ShoeFy, we have added an extra layer of utility, which adds value on top of the scarcity of the limited edition. This is not your mother’s artwork. This new generation artwork for savvy investors can quite literally pay for itself.
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🚀 Email: contact@shoefy.io
