Minting
1. Why does NFT should be minted into multiple assets (xTOKEN)
Separating NFT into many tokens (xTOKEN) will make it easy for users to participate in speculation in the NFT market with a small amount of capital.
Minting is the process of adding an NFT to a Vault, creating a xTOKEN amount based on a ratio pre-defined by the Vault Owner, and offering users to sell a portion of their NFT's value. These tokens can be used to trade, stake or provide liquidity for other assets on DEX platforms.
2. Minting Step by Step
Users select Vault in the Vault List. Note to check the Vaults that accept their NFTs.
3. Selecting NFTs
Select NFTs in the wallet that wants Mint. Note that the price of NFTs is the same in the Vault, regardless of NFT rarity.
4. Minting basket
The NFT list management screen will show selected NFTs to mint, the minting fee, and the number of tokens to be received when minting.
The formula for calculating the amount of minted xTOKENSs is based on the current Pool xTOKEN/STABLECOIN ratio.
This ratio can change as the token price fluctuates, which also affects the amount of xTOKEN that can be minted.
In the beginning, NFT will be automatically added to Liquidity. Therefore, the technical process of minting xTOKENs involves removing LP, unstaking LP, and returning xTOKEN to the users. The remaining amount of STABLECOIN is transferred to the Treasure Pool.
5. Mint fee & Tokens received
The fee is set by default to 5%, of which 1% is sent to DAO, 1% for pool sharing, 2% to the Collection owner, 1% to Dev.
This fee is only adjusted by the DAO.
Dev only gets 1%, and this number is not changed by the DAO.
The system has a formula for calculating a slippage curve to determine the amount of xTOKEN to be paid. Slippage is affected by the number of xTOKEN per minting. The slippage amount of xTOKEN will be burned.
For each minted NFT, the user gets only 95% of the tokens
6. Minting
When minting is done, users have 2 options:
5% minting fee and get 95% tokens back.
0% minting fee and get 100% Token back for adding LP.
Benefit
Pool Share: the share from the fee is divided by 3 blocks.
Minting fee: it has 48 hours to calculate
Lock time: 48 hours users can unstake or withdraw.
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