I'll explain simply what's wrong with QUIK.
1- @Quik_Exchange holds your NFTs and your tokens (SEI) even after they are sold!
QUIK acts as an intermediary between you and the user who will buy the NFT.
When you list the NFT for sale, you are sending it to a wallet that is not yours.
When the NFT is sold, the tokens (SEI) need to be withdrawn to your own wallet.
If, for some reason, the platform goes offline, you can say goodbye to your NFTs.
This goes against the decentralized system that all cryptocurrencies are trying to promote.
2- Possibility to remove royalties.
I can understand that in dead or rug projects, it might make sense.
But royalties are and will always be the incentive to motivate a project to continue building, improving, and performing in the ecosystem.
This mechanism is crucial, especially for projects that want to launch for free.
Seemingly, @seiyansnft might not be where it is now without these royalties.
Royalties are the fuel of the NFT ecosystem.
Just joined the @Quik_Exchange Season 1 airdrop and claimed 90.41 points 🤑
Claim your points here and start earning points by trading on Quik 👉 https://t.co/J6Hwk2WnvU
Under the rising sun, I find strength in discipline and honor in every action. Each challenge is a path to enlightenment, every struggle an opportunity to forge a resilient spirit.
The new NFT meta ?
It is increasingly common to hear about ERC-404 and SPL-20/22 within NFT ecosystems, but what are they?
Can they truly revolutionize the market?
Let's look at it together!
ERC 404
The ERC-404 token standard enables native fractionalization of NFTs, combining NFTs and fungible tokens.
What does it mean?
Imagine wanting to buy a Bored Ape Yacht Club (BAYC) because you have a hunch that its price might increase, but you don't have the liquidity at all to afford one.
How to not miss this pump ?
Thanks to ERC 404, you will have the opportunity to buy a small fraction, reflecting in the value of the NFT.
ERC404 use 1:1 NFT:token tokenomics.
This means, 1 NFT is = 1 token.
Issued tokens are linked to an NFT.
If you buy a full token, the linked NFT is minted to your wallet.
If you sell a fraction of the token, the linked NFT is burned.
If a wallet holding fractions of a token purchases enough fractions to hold a complete token, a new NFT is minted automatically.
Yes, like a puzzle.
How it started ?
@Pandora_ERC404 was the first collection/token to leverage the ERC404 standard.
Pandora is also the team which first developed the ‘unofficial’ ERC404 standard.
As an ERC404, Pandora consists of NFTs and fungible tokens.
There are 10K PANDORA tokens and 10K Pandora boxes.
As an ERC404, ownership of 1 full token means you also receive the NFT and vice versa.
Users will always have both if the wallet controls a full token or an NFT.
Like a fungible token, $PANDORA trades on AMMs, but like an NFT, it is also possible to trade Pandora boxes on NFT platforms like Blur or Opensea.
What's so special about it?
This new mechanism is still "experimental", many marketplaces don't support it by default.
This new standard will enable new mechanism, engagement system and maybe also a new type of gamification on the NFT Ecosystem.
The Token Price reflect in real time the Floor Price.
SPL 20/22 by @bozoHYBRID
SPL20 usually have a 21.000 NFT:1000 tokens ratio, but something changed few time ago with the first Hybrid DeFi project.
The project who has innovated and pioneered in hybrid DeFi is , introducing some big new mechanism to the standard.
NFT Deflation
Their ratio is 1 : 800.000 tokens .
This means that i can sell my NFT for 800.000 tokens, then i can sell my token on the Market, these tokens will be distributed to different wallets.
Less NFTs means also an increased value of them and the token will follow this trend.
Burning a part of the tokens will reduce the total supply and the availables NFTs.
Current deflation sits at 27.7%
Only 723/1000 NFT's are available.
Cross market arbitrage liquidity injection
NFT and Tokens Both can be swapped for virtually nothing as many times as you want here on their bidirectional bridge.
As their market continues to grow means more liquidity needs to be injected as it grows to keep the NFT and token price in equilibrium.
Two Ways Liquidity Portals
As we know 1 NFT = 800.000 tokens, you can bring liquidity into the exosystem throught a Marketplace buying the NFT or throught traditional token trading markets like Raydium.
OTC Market with 0 slippage
Each NFT represent the 0.1 % of the total supply.
You no longer endure slippage entering or exiting the market on big positions because you can simply buy or sell big portions of the supply on the NFT market with zero slippage.
NFT Hedging
What if you own an NFT but you are thinking that is going to have a down swing?
You have to sell it on an illiquid market, but what if you could just hedge 25% of it, or 50% of your NFT $ worth?
Using their NFTxTOKEN hybrid model, bridge your hybrid NFT to tokens, use those tokens as collateral on the futures market, go short 1x with that collateral, you have now effectively hedged via synthetic USD.
You don't have to sell you entire NFT anymore !
As for the ERC 404 you can reduce your exposure to the NFT price by owning a % of the tokens required to mint 1 NFT.
Complete game changer.
And the winner of the Thread Contest is... @0xbuchi 🎉
We thank everyone who participated and spent their precious time, we really liked the Threads made.
More events coming soon? 👀
The portals are open! 🚪
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𝐌𝐞𝐨𝐨𝐨𝐨𝐰!
It's me, Sei Robo Cat, stepping onto SEI as the first multi-chain NFT project 🛸
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