Changes: NFT Staking Pools, NFT Launchpad, Partnerships
We opened a bunch of NFT staking pools since delivering our Launchpad back in mid-March. In order to promote the Staking pools and our Launchpad we made a promotional offer to artist and projects. The offer was to match their DMD for NFT staking pools. E.g. if an artist or project purchased 50,000 DMD our team would match them with 50,000 more DMD bringing it to a total of 100,000 DMD. In addition to this we were offering all launchpad projects a free NFT staking pool.
Initially this all worked well for us and our team, the news spread quickly and we had a lot of early success.
Our team needs to consider the liquidity providers and token holders. Unfortunately increased emissions with no offsetting buy pressure is not an ideal situation. So now it’s time to make some permanent changes which we outline below.
NFT Staking Pool Changes:
- projects are required to provide the reward token for NFT staking pools. The minimum per month is $2500 worth of tokens. We recommend purchasing DMD off the market and using that as your reward, however you may use any NON RFI token you desire.
- We are no longer matching DMD for any pools, for any reason. The only pools that will get DMD from our DMD treasury are DMD NFTs.
- We are no longer offering free NFT staking pools for Launchpad artist or projects. If an artist or projects goes through the launchpad and wants a staking pool they must provide the reward token.
- There are a couple projects grandfathered into our old system.
- Any Fantom NFT project is welcome to open an NFT staking pool as long as they provide the rewards.
- To open a farm in our DAPP for your LP token a partner must provide a minimum $10,000 in FTM or their project token for our Multi-Pool. We will not compromise on this requirement, if it can not be fulfilled we can not partner with you.
- Multipliers costs money, if you want to keep your high multiplier you must continue incentivizing our token holders by filling the multi pool. Over time your multipliers will be reduced.
NFT Launchpad Changes:
- Soon we are deploying a v2 factory NFT contract. This contract will add additional functions.
- In v2 factory contract the fee for artist and projects going through the launchpad will be increased to 10%.
- All artist are welcome to apply for the launchpad.
We appreciate all the support. We knew going into this that there would be some price discovery. These changes will help the team focus on better partners and better artist. We are here to continue building and look forward to working with all the existing and new artist coming to Fantom.