NFTX
Last updated
Last updated
Some community members created a pool on NFTX. Here is the link...
NFTX is a platform that "liquifies" illiquid NFTs.
When a new pool is setup on NFTX, the pool creator names the ERC-20 token that represents a Luftballon. The creator of the Luftballon pool named the token "LUFT." 1 LUFT = 1 Luftballon on NFTX. This should not be confused with the $LUFT tokens dripped to the Luftballons.
When you stake a Luftballon in an NFTX pool, you are saying that 1 Luftballon = 1 Luftballon. There is no more concept of rarity or individual token identity, much like exchanging ERC-20 tokens such as Ethereum or Shiba Inu on an exchange. Luftballons in the pool may be bought, sold, and swapped. Each time there is a buy, sell, or swap from the pool, a fee is collected and stakeholders in the pool receive an APR on their staked NFTs relative to the percentage of the pool they own.
PRO TIP: Claim $LUFT and check rarities before staking. You may not get the same Luftballon back.
For more information visit https://academy.nftx.io/staking/.
Individuals may buy NFTs in the NFTX pool just as they can on any other marketplace. Luftballons added to the pool will even show up on aggregators such as Gem.xyz.
For more information visit https://academy.nftx.io/shopper/buying-nfts/.
Individuals may sell NFTs to the NFTX pool and receive ETH in exchange.
For more information visit https://academy.nftx.io/shopper/selling-nfts/.
Individuals may swap any Luftballon they hold for any Luftballon in the NFTX pool for a small fee. This is a great way to snipe rarer NFTs without decreasing the quantity an individual holds.
For more information visit https://academy.nftx.io/shopper/swapping-nfts/.
PRO TIP: To quickly identify if there are any rare Luftballons to swap, use Gem.xyz filtered by the NFTX marketplace in ascending rarity order. The following link will get you there: https://www.gem.xyz/collection/9999-luftballons/?marketplaces=[%22nftx%22]&sort=rarity_asc
Select the Luftballons in your collection that you wish to stake.
Choose whether you want to simply add Luftballons to the Inventory or add Liquidity. Liquidity will require both Luftballons and ETH.
Approve NFTX to transfer your Luftballons.
Click Stake.
Inventory items are locked for 7 days. Liquidity is locked for 48 hours. If you add additional items during that period, the lock period is reset.
