Introducing $NFTFY Token
A powerful tokenomics for a powerful protocol
This is a working process article to share news about Nftfy with the community.
$NFTFY, the Nftfy Protocol token, will be live on May 10th 13:00 UTC!
$NFTFY contract address: 0xBf6Ff49FfD3d104302Ef0AB0F10f5a84324c091c
Watch out for scammers in our recent article “Security Alert Against Scammers”.
Nftfy is a Decentralized Application that makes it possible to fractionalize Non-Fungible Tokens (NFTs). This enables trustless sharing of ownership of NFTs, brings instant liquidity to the NFT market and opens up all the possibilities of the DeFi ecosystem for NFT holders.
It is a permissionless protocol that allows anyone to generate ERC20-compliant fungible Fractions fully backed by the NFT. This opens up a whole new market full of possibilities, including being able to integrate the NFT Fractions into all other DeFi applications.
Tokenomics Rewards
Once these new NFT-backed ERC20 tokens are generated, it is necessary to boost liquidity for these new tokens. We will do this by building an engaged community and ensuring the protocol is supported by strong tokenomics.
For this reason, Nftfy tokenomics were designed to reward early adopters and community members and provide liquidity for the new tokens using familiar DeFi mechanisms, such as Liquidity Mining, Farming programs and Airdrops.
$NFTFY Utility
The main function of the token is to amass and discover value within the $NFTFY ecosystem. As the many new ERC20-compliant Fractions are generated by the community, the $NFTFY token acts as a liquidity booster for all the users.
Liquidity Mining, Farming and Airdrops will be used to stimulate the liquidity in the Balancer Pools containing $NFTFY tokens. Anyone can easily participate in the rewards programs as any pool created on Balancer protocol containing the $NFTFY token as collateral is automatically eligible to participate in our Liquidity Mining program. In addition, their participants are eligible to receive airdrops of the most valuable NFTs on the platform and there will be pools with incentives for specific partnerships.
$NFTFY Distribution
The token will be managed in different ways by different participants. We will give a complete description of how the allocation will work soon. It will be distributed as follows:
- 30% DAO Treasury
- 20% Liquidity Mining
- 5% Ecosystem Fund
- 15% Private partners
- 5% Marketing & Operations
- 20% Team
- 2% DEX LBP — Liquidity Bootstrapping Pool
- 3% Business (0,35 % IDO Launchpad Poolz, 1% Initial Farming, 1% Advisors, 0,65% Business)
$NFTFY token release
DAO Treasury, Liquidity Mining, Ecosystem Fund, Marketing & Operations and the Team allocation will be released weekly over a 6-year vesting term, according to the following schedule:
- 1st year: 24%
- 2nd year: 22%
- 3rd year: 18%
- 4th year: 16%
- 5th year: 12%
- 6th year: 8%
Marketplace
The Nftfy marketplace will officially be launched in the first half of June* 2021, a month after the Liquidity Generation Event (LGE).
Besides the traditional features of NFT marketplaces, Nftfy’s marketplace offers the possibility of fractionalizing and trading the NFTs as ERC20-compliant fungible Fractions, bringing benefits for buyers and sellers.
IDO on Poolz Launchpad
We have partnered with the highly respected Poolz Launchpad to give the community the opportunity of participating in the whitelist and getting access to the $NFTFY token before the LGE.
Get more infformation here: Nftfy’s IDO on Poolz is a Spectacular Success!
LGE on Balancer’s LBP
Our Liquidity Generation Event will run on Balancer, through a Liquidity Bootstrapping Pool, the preferred way of boosting liquidity for new ERC20 tokens.
Early adopters benefits
Straight after the LGE, all token holders can take part in two Early Adopter Campaigns:
$NFTFY Super Farming Program
To boost the initial liquidity of the ecosystem and benefit early users, there will be a farming program with 1 million $NFTFY tokens.
Special Airdrops
Special airdrops will be released to the early adopter community.
About Nftfy
Nftfy is a robust decentralized open marketplace that enables anyone to effortlessly monetize digital assets with no coding skills required. Users can easily fractionalize NFTs, making shared ownership possible and bringing increased liquidity to the NFT market. This will resolve many of the current pain points and improve the experience for buyers and sellers. Nftfy will bring all the benefits of DeFi to NFTs and provide an all-in-one platform for users to buy, sell and launch their NFT-backed Fractions.
Nftfy will revolutionize the NFT market and we’re excited to be taking the next step with our $NFTFY token IDO on Poolz Launchpad.
Stay tuned to our social media for more information.
Follow us on our social media
Website | Telegram | Twitter | Medium | Docs
* with the addition of the cross-chain operation between BSC and Ethereum, shortly after the LBP, the launch of the marketplace was postponed for one month.
