Revival User Guide
1. Project Introduction
1.1. EMOGI Network (LOL)
Founded in 2018, Singapore-based EMOGI Network has made it a lifelong mission to connect, inspire and empower all through blockchain technology.
EMOGI Network’s investors include top VC firms like ZhenFund, Matrix Partners China, Nirvana Capital, Metropolis VC, BlockVC, Huobi, AlphaCoin Fund, Danhua Capital, and more.
Our team members graduated from world-renowned universities such as Princeton, Columbia, Dartmouth, and Brown. These strong academic backgrounds are coupled with solid technology, business, and blockchain industry experience. In addition, our team leverages years of professional experience gained at top global MNCs such as Google, Microsoft, Uber, TripAdvisor, Kayak, Ogilvy, and Deloitte.
Currently available on Huobi Exchange, LOL is the native token of EMOGI Network, the 5th Huobi Prime project, with hundreds of thousands of users worldwide.
1.2. REVIVAL NFT Fund
EMOGI Network (LOL) initially invested 20 million US dollars in the REVIVAL NFT Fund. The Fund will be used towards building collaborations with industry-leading institutions and incubating and supporting a new generation of top artists. This can be achieved through promoting the tokenization of high-quality traditional art, providing technical and marketing support for talented artists, and redefining artworks’ collection and investment value.
By applying DeFi to NFT trading and providing a popular platform to showcase digital artworks, REVIVAL NFT Fund connects creators with fans and collectors worldwide through our marketplace and network of partners while enabling all stakeholders to quickly receive the investment benefits brought by the fusion of traditional art and blockchain technology.
2. Revival NFT Marketplace
2.1. Introduction
Revival, developed by EMOGI Team, is the first major multi-chain aggregated NFT marketplace on IOST. Empowered by blockchain technology, Revival enables the tokenization of the artwork on the chain to generate NFT artworks that are unique and verifiable with their smart contract addresses.
Revival implements the innovative Margin Reward Mechanism for its users. Building on top of the ultra-fast, secure, and gas-efficient IOST blockchain, Revival provides artists and users with seamless experiences to create, buy and sell NFT artworks at decent returns.
3. User Guide
3.1. How to create an account and link it to iWallet?
The account you use on Revival NFT marketplace is your IOST Mainnet account.
If you do not have an IOST mainnet account, please follow the steps below to sign up.
If you have an IOST mainnet account, you can skip these steps and install iWallet, the wallet extension for IOST on Chrome.
You can choose any of the wallets below to download and then create your own IOST mainnet account:
(1) TokenPocket: tokenpocket.pro
(2) BitKeep: bitkeep.org
(3) DAppBirds: store.dappbirds.com/download
(4) Huobi Wallet: huobiwallet.com
(5) Citadel One Seed Wallet: app.citadel.one
You can learn more about how to create an IOST mainnet account here.
After successfully creating an IOST mainnet account, you can use this link to install iWallet Extension and connect to your IOST account on Chrome.
3.2. How to connect your iWallet to Revival?
After you have connected your IOST account to your iWallet, visit Revival's official website, then click “Connect Wallet” in the upper right corner to effectively sign in to Revival.
3.3. How to create your first NFT?
After you have connected to your wallet, go to your account page, then click “Create NFT.”
Follow the 4 easy steps below to create an NFT:
i. Upload an image file
Only files with the following extensions are allowed: JPG, JPEG, PNG, GIF. The file size must be less than or equal to 20M. After the file is uploaded, there will be a thumbnail of the uploaded image on display. Click “Cancel” in the upper right corner to upload another file.
*Content Standard on Revival NFT Marketplace:
You may not submit content to the forum that is illegal, offensive, or otherwise harmful to others.
You may not submit content to the forum that violates the law, infringes anyone’s intellectual property rights, violates anyone’s privacy, or breaches agreements you have with others.
If you violate this rule, your associated wallet account will be permanently banned from using Revival NFT Marketplace.
ii. Give your NFT creation a name
Enter the name of your NFT. The name must be less than or equal to 20 characters in length.
*Note: If the name of your NFT is taken, try another.
iii. Enter your NFT creation’s description
Enter your NFT’s description. The description must be less than or equal to 300 characters in length.
iv. Set up royalty for your NFT creation
A royalty is a secondary sale fee you collect when a user sells one of your creations. The default percentage fee is set at 10%. You can choose not to set a royalty for your NFT.
3.4. How to list your NFT for sale?
Select the NFT you would like to sell from “My Collection.” You can choose to sell at a fixed price or sell to the highest bidder.
*Note: When you list an NFT for sale, 10% of the selling price or 10% of the auction's minimum bid will be locked as a margin for this NFT. The locked tokens will earn a margin reward for you every 24 hours.
3.4.1. Set a fixed price to sell an NFT
Enter the price for the NFT (the price must be an integer). You can choose to set the price in LOL or IOST. When you are finished, click “Post Your Listing” to list your NFT for sale.
When the listed NFT is sold or delisted, the margin for this NFT will be returned to your account in 72 hours.
3.4.2. Set an English Auction to sell an NFT to the highest bidder
When setting up the auction duration, you can choose a time period between “1 Day”, “3 Days”, and “7 Days”.
After setting up the minimum bid and the auction duration, click “Post Your Listing” to list your NFT for an auction.
The auction starts when you click “Post Your Listing” to list your NFT for an auction. Once started, it cannot be canceled.
If your listed NFT is sold, the margin for this NFT will be returned to your account in 72 hours after either you or the buyer confirms the transaction by going to “Auction History” on your account page and clicking “Confirm” to the right of the sold NFT. If the auction expires without a bidder, the margin for this NFT will be returned to your account in 72 hours after you delist the NFT by going to “Auction History” on your account page and clicking “Cancel” to the right of the NFT that didn’t sell.
3.5. How to delist an NFT?
You can go to “My Collection” on your account page, then click “On Sale” to view all your NFTs that are currently on sale and delist the NFTs you do not wish to sell anymore.
Select the NFT you want to delist, then click “Delist” to proceed.
You cannot delist NFTs that are on auction. After the auction expires without a bidder, you can go to “Auction History” and click “Cancel” to the right of the NFT that didn’t sell to delist it. After that, the margin for this NFT will be returned to your account in 72 hours.
3.6. How to buy an NFT?
3.6.1. Buy a fixed-price NFT
Search for an NFT you want to buy on Revival, then click on it.
Click “Buy Now” to buy the NFT with LOL or IOST.
3.6.2. Buy an NFT at auction
If you click on an NFT that is being auctioned, you will see the remaining auction time and the current highest bid for this NFT.
Click “Place a bid” to place a bid with a 10% or a 50% increase in bidding price.
After you place a bid, the page will show a pop-up window to confirm it, and the corresponding amount of IOST or LOL will be deducted from your account.
At the same time, the current highest bid and the bid history will be updated accordingly.
If nobody outbids you before the remaining auction time runs out, you win the auction. After the auction ends, either you or the seller can go to “Auction History” on your account page and click “Confirm” to the right of the bought NFT to confirm the transaction between you and the seller. After that, this NFT collectible is yours!
You can view detailed information, including Collection, Price, From, To, and Date related to the auction, by going to “Auction History” on your account page.
*After the auction ends, the user who made the last successful bid will win the auction. The locked offers from all previous bidders will be returned to their accounts in full.
4. Platform Rules
4.1. Trading Fee
When you buy an NFT on Revival NFT Marketplace, Revival will charge 5% of the final sales price as a trading fee. All of the trading fees collected by Revival will automatically go into the Revival Reward Pool.
4.2. Reward Pool
You can find “Margin Reward” and “Trading Reward” on your account page.
4.2.1. Margin Reward
When you list an NFT for sale, 10% of the selling price or 10% of the auction's minimum bid will be locked as a margin for this NFT. The margin will automatically go to the corresponding (LOL or IOST) Margin Pool and generate margin rewards every 24 hours.
Revival will automatically distribute margin reward based on the percentage of your IOST/LOL margin to the total IOST/LOL in the IOST/LOL Margin Pool on the day.
When the listed NFT is sold or delisted, the margin for this NFT will exit the Margin Pool and be returned to your account in 72 hours.
You can see Locked Amount, Exiting Amount, Return %, and Daily Reward for both LOL and IOST tokens under “Margin Reward” on your account page.
4.2.2. Trading Reward
When you buy or sell an NFT, Revival will automatically distribute trading rewards based on the percentage of your daily trading volume to the platform’s 24H volume.
4.3. Sources of funds for the Revival Reward Pool
The IOSTs and LOLs in the Reward Pool come from only two sources: trading fees from users and funding from the REVIVAL NFT Fund.
Each month, the REVIVAL NFT Fund will contribute 10 million LOLs to the Reward Pool, and 100% of trading fees (in IOST and LOL) received by Revival will go into the Reward Pool as well.
4.4. Fund allocation plan for Revival Reward Pool
IOST Margin Pool and LOL Margin Pool get 78% of the Fund;
Trading Reward Pool receives 2%;
The remaining 20% of the fund is used to repurchase LOL tokens from the market and burn them.
4.4.1. Margin Pool (78% of the fund)
LOL Margin Pool:
LOL Margin Pool’s Reward = (10m LOL per month + Total Trading Fees) x 60%
Users who lock LOLs as margin will share the margin pool’s reward based on their Margin Ratio (Margin Ratio = user’s LOL Margin / Total LOL in LOL Margin Pool). The reward is distributed once per 24 hours.
IOST Margin Pool:
IOST Margin Pool’s Reward = (10m LOL per month + Total Trading Fees) x 18%
Users who lock IOSTs as margin will share the margin pool’s reward based on their Margin Ratio (Margin Ratio = user’s IOST Margin / Total IOST in IOST Margin Pool). The reward is distributed once per 24 hours.
4.4.2. Trading Reward Pool (2% of the fund)
Buyer Reward Pool:
Buyer Reward Pool’s Reward = (10m LOL per month + Total Trading Fees) x 2% x 50%
Buyers will share Buyer Reward Pool’s reward based on their Volume Ratio (Volume Ratio = user’s trading volume as a buyer / Revival’s 24H Volume). The reward is distributed once per 24 hours.
Seller Reward Pool:
Seller Reward Pool’s Reward = (10m LOL per month + Total Trading Fees) x 2% x 50%
Sellers will share Seller Reward Pool’s reward based on their Volume Ratio (Volume Ratio = user’s trading volume as a seller / Revival’s 24H Volume). The reward is distributed once per 24 hours.
4.4.3. Coin Burn Pool (20% of the fund)
After Revival NFT Marketplace is launched, REVIVAL NFT Fund will use 20% of the fund from the Reward Pool to periodically repurchase LOL tokens from the market and burn them. Please follow Revival's official announcement for the latest LOL burn report.
4.5. How to claim the reward?
You don’t need to do anything to claim the reward. The reward will be automatically distributed to your IOST account every 24 hours. You can check how much reward you get for the day by clicking on “Margin Reward” and “Trading Reward” under “My Account.”
4.6. An example
Artist Tony lists his NFT collection A for sale at the price of 10,000 LOL. As a result, he locks 1,000 LOL (10% of the price) from his IOST account as a margin for this NFT collection A. If a buyer is interested in this NFT, he or she needs to pay 10,000 LOL for it. After the transaction is carried out, Revival will get 5% of the total transaction amount as a trading fee, and Tony will receive 10,500 LOL in his IOST account (9,500 LOL from the sale of A, plus the 1,000 LOL locked as margin for A).
Let say on the day the transaction takes place, Tony’s Margin Ratio equals 0.1%, his Volume Ratio as a seller equals 0.1%, the total trading fee received by Revival equals 1,000,000 LOL + 10,000 IOST, and REVIVAL NFT Fund puts 300,000 LOL into the Reward Pool, Tony’s margin reward and trading reward for the day are calculated below:
Tony’s margin reward for the day:
(300000 LOL+1000000 LOL)*60%*0.1%=780 LOL
10000 IOST*60%*0.1%=6 IOST
Tony’s trading reward for the day:
(300000 LOL+1000000 LOL)*50%*0.1%*2%=13 LOL
10000 IOST*50%*0.1%*2%=0.1 IOST
Tony’s total reward:
780 LOL+6 IOST+13 LOL+0.1 IOST=793 LOL+6.1 IOST
5. Medici Support Program
Medici Support Program is a talent acquisition program open to all promising digital creators around the world. The program’s main objectives are to empower and incubate a new generation of top global artists, promote the development of high-class art, and boost digital creativity.
5.1. What can we do for creators?
With full technical and marketing support from the EMOGI team, creators who join this program will connect to hundreds of thousands of EMOGI Network users and showcase and sell their creations to a global audience at ease.
Start-to-finish Technical Support
Based on the creator’s needs, EMOGI team will tokenize the creator’s artworks on the IOST chain to generate NFT artworks. Each NFT is unique and can be verified with its contract address. After the creator joins the program, all he or she needs is to submit the digital artworks, then EMOGI team will create, sell, or auction the artworks on the creator’s behalf.
Customized Marketing Support
A passionate group of seasoned marketers and creators will conduct a comprehensive analysis of the creator’s works and come up with a customized IP marketing plan, which includes the following:
- Listing of artworks on Revival front-page Featured NFTs section
- Expansive social reach through EMOGI Network and IOST global social media channels
- Detailed news coverage from leading media outlets in the blockchain and traditional industries
Diverse Engagement Support
By joining the program, the creator is connected to hundreds of thousands EMOGI Network users across 20+ countries, not to mention EMOGI Network’s developer community, investors, and project partners. In the future, popular creators on Revival NFT Marketplace will have a chance to participate in art and solo exhibitions hosted by EMOGI team, famous art associations, and auction houses.
5.2. How to join the Medici Support Program?
i. Get enrolled in the program
Sign up and submit your digital artwork(s) to the REVIVAL NFT Fund via this link. Revival NFT Fund will conduct a preliminary screening of qualified artworks. If you pass, the Fund will send you an email to notify you within five working days.
*Digital artworks that violate international intellectual property laws, promote suicide or self-harm, incite hate or violence against others, degrade or dox another individual, depict minors in sexually suggestive situations, or are otherwise illegal in Singapore are prohibited and will not be considered.
ii. Get your artworks reviewed and sign the partnership agreement
A team of experienced NFT creators will review your artwork(s). If you pass the review, you need to sign the NFT Artist Strategic Partnership Agreement with the REVIVAL NFT Fund.
*By signing the NFT Artist Strategic Partnership Agreement, you agree that you are the sole original creator of the work(s). In addition, you agree to grant REVIVAL NFT Fund the rights to propagate and use these work(s) online and sell these work(s) only on Revival NFT Marketplace.
iii. Have your featured NFT artworks go live on Revival
After you establish a partnership with the REVIVAL NFT Fund, the EMOGI team will provide strong technology, engagement, and marketing support for you and get your NFT listed on Revival NFT Marketplace.
5.3. Event Time
All creative and distinguished artists from all over the world are welcome to join the Medici Support Program. This program is always active.
5.4. Link to join the Medici Support Program
http://revival-nft.va.mikecrm.com/fn51FCy
6. FAQ
Q1. Which tokens can I use on Revival NFT Marketplace?
At present, you can buy and sell NFTs on Revival using LOL and IOST. In the future, Revival will support more popular cryptocurrencies.
Q2. Do I need to pay GAS fees on Revival?
Yes. You need to pay iGAS when you create, list, delist, buy, and sell an NFT.
Q3. How to get iGAS?
You can get iGAS by staking IOST. When you don’t need iGAS anymore, you can redeem the same amount of IOST that you have staked before (No actual fee is involved).
Q4. How can I get an NFT on Revival NFT Marketplace?
So far, you can get an NFT on Revival NFT Marketplace by creating one or buying one from others. Revival will develop the function of NFT asset transfer between mainnet accounts in the future. Stay tuned.
Q5. How does royalty work?
A royalty is a secondary sale fee. When an NFT collection is created, the creator can choose whether to set a royalty equal to 10% of the NFT’s price. If a 10% royalty is set, every time the NFT is sold on Revival, the NFT creator can receive 10% of the sale.
For example, user A creates an NFT collection and sets a 10% royalty for this NFT. Later it is sold to user B for a price of 100 IOST. User B then successfully sells this NFT to user C for a price of 500 IOST. When this NFT is sold by user B to user C, user A will receive 10% of the sale, 50 IOST, as revenue. When the NFT is sold by user C to another buyer, user A can still receive 10% of the sale as revenue.
Q6. How to change the fixed price or the minimum bid for an NFT that is listed on Revival?
If you have previously set a fixed price to sell this NFT, you can click “Delist NFT” and then re-list it for sale at a different price.
If you have previously set an Auction to sell this NFT, you can start a new auction with a different minimum bid only after the auction expires without a bidder.
Q7. Do I need to pay fees other than the iGAS fee to create an NFT on Revival?
No.
Q8. Can I buy the NFT listed by myself?
No.
Q9: Can I convert IOST to and from LOL? If so, how?
Yes. You can convert IOST to and from IOST with Xigua Finance, Automatic Market Maker (AMM) DEX DeFi project on IOST blockchain.
*Note: Due to Xigua’s AMM pricing mechanism, the price offered by Xigua Finance may differ from the current market price. Revival NFT Marketplace will not be liable to you for any loss that might arise from your use of Xigua Finance. Please contact Xigua Finance Dapp Team if you have any questions.
Q10: How can I contact Revival if I have reason to believe that an asset listed on Revival is a counterfeit?
If you have reason to believe that an asset listed on Revival is a counterfeit, and listing this asset constitutes copyright infringement, please fill out this form to report it to us. Our team actively monitors the platform and removes fraudulent content as soon as it is discovered or reported by users.
*Revival NFT Marketplace can only guarantee the authenticity of digital assets created by our featured (partnered) artists. Users bear their own risks of trading with independent creators. Revival NFT Marketplace is not liable for any potential losses caused by independent creators’ own illegal activities.
Q11. Revival Fee Table
