Vault Creation
Last updated
Last updated
A place where liquidity is added by the Vault Owner. Vault creation provides a solution for Vault Owners to add LP for any type of NFT they want through selling it.
Creating a vault is a key feature of the NFTFeed system. It lets users mint xTOKEN derived from any NFT they want. These xTOKENs, backed by NFTs, can be traded more easily, creating liquidity in markets that were previously limited. As a result, users can earn rewards and fees by providing liquidity and making these markets more dynamic. NFTFeed uses xTOKEN as liquidity for all NFT collections in the platform.
Add the number of NFTs you want to sell to the Vault.
Set the desired selling price of each NFT.
NFTFeed will set the initial proportion of the corresponding xTOKENs generated from the NFT when it's minted. The next NFT collections will rely on the xTOKEN price to add liquidity which means the system will automatically set the number of tokens added to the pair.
When you finished creating the vault, you will receive a confirmation on the chain. At this point, you can manage the vault, but it will not be visible until you have finished minting and publishing it. To do this, click "Manage your Vault".
The vault management function lets you adjust important settings for your vault and make it visible on the NFTFeed platform. Once you publish your vault, you won't be able to make any changes, only the DAO can do that. So, before you publish, review the settings carefully. You can set things like fees and eligibility requirements.
S3. Vault Features
Minting: To create a vault, it's crucial to enable minting so that users can buy and mint NFTs.
There are two ways users can redeem NFTs from your vault: by Randomly redeems or Target redeems by choosing specific ones and paying an extra fee that you set in the Fees section.
S4. Fees
Now you can set fees for individual vaults, and those fees will be redistributed to the liquidity providers who stake their LP. By default, new vaults have a 5% Mint Fee, a 4% Random Redeem Fee, and a 6% Targeted Redeem Fee.
When you create a new vault, you can set the mint fees to 1% before finalizing it, to encourage initial seeding of the vault. After you have seeded the vault with liquidity and inventory staking, you no longer need to reduce the fees to get it seeded, thus enabling you to keep the default fees.
Note: minting fee is set by default initially, the rate adjustment is only decided by DAO. Redeem fee & Target Redeem fee is decided by Vault Owner and can be changed by themselves.
S5. Eligibilities
This feature will be applied to NFT Collection. A vault's eligibility list is a set of NFT ID ranges that can be minted and added exclusively to that particular vault. Think of it like a permission list, only NFTs within the ranges specified on the eligibility list can be added to the vault using the minting process, helping Vault Owners manage and curate their collections.
S6. List Module
Use this setting for specific individual IDs to add to the eligibility list.
S7. Eligibility Range
To add a range of NFT IDs to a vault, use the "from-to" settings. This is handy for projects like Art Blocks Curated, where each project has its own NFT ID range minted from the same contract. This means you can add entire ranges of NFT IDs to a single vault, making it easier to manage and curate your collection.
Before your vault can be viewed on the app, you need to mint at least one eligible NFT and publish the vault.
Note: once you publish it, the DAO takes ownership and you won't be able to modify the fees or eligibility settings.
After confirming your fee settings, you'll be directed to the vault detail page with all the important info, such as the Vault ID, URL, Token Address, current Holdings, and Lifetime Fees.
Once you have created and published your vault, you'll need to provide an icon and fill out a verification form to finalize the process. Make sure you have all the information required:
Your vault name (not the token name).
Vault ID
Discord username
A transparent PNG icon in 512x512 pixels.
You'll also need to create a signed message with the wallet you used to create the vault. This lets the NFTFeed DAO confirm that the request is from the Vault Owner.
After submitting the form, The team will verify the signed message, update the icon, and verify the vault.
Note: Your vault is still functional even if it hasn't been verified yet.
2.2 Enable NFT Minting for Users
Users can access the Affiliate feature to mint NFTs, which means a project that sells NFTs to users and creates liquidity pools for those NFTs.
Based on a list of NFTs in the vault that the Vault Owner has set up at the beginning, users can mint NFTs by using stablecoins. For each NFT that users successfully mint, the vault will be added LP following the Affiliate mechanism.
When a user successfully mints an NFT, an LP Token will be assigned to the Vault Owner. However, this LP Token cannot be withdrawn or unstaked by the Vault Owner. Only after the guarantee period expires, the LP will be sent to the Vault Owner.
Add LP into Vault
Users can add more liquidity to Vault by depositing NFTs into Vault and getting 1 LP Token back for staking.
