FAQ
Last updated
Was this helpful?
v2.6.9
Last updated
Was this helpful?
NFTX is a platform for making ERC20 tokens that are backed by NFT collectibles. These tokens are called vault tokens, and (like all ERC20s) they are fungible and composable. With NFTX, it is possible to create and trade tokens based on your favorite collectibles such as , , and , right from an exchange.
NFTX's mission is to become the primary issuer of NFT vault tokens, allowing anyone to trade & invest in NFT markets without needing the underlying knowledge and expertise required when investing in individual assets. By doing so, NFTX will function as a black hole for NFT assets.
Yes, NFTX contracts are fully permissionless on-chain contracts.
The interface is built and maintained by the NFTX DAO and will be open-sourced as soon as possible, for anyone to run locally when needed.
NFTX is built by a decentralized autonomous organization (DAO) - a group of community members, contributors, and core members closely aligned to build the primary NFT liquidity hub. As NFTX is an open organization, anyone anywhere may join to provide expertise and/or additional resources with the goal to grow NFTXs' success.
If you'd like to contribute to what NFTX is building, feel free to join the community
does not charge any fees.
allows vault creators to charge fees based on minting and redeeming NFTs in and out of the vaults. There are three fee options in V2 and are set to the following defaults for all DAO and new vault creations
5% Minting Fee
0% Random Redemption Fee
5% Targeted Redemption Fee
These fees are distributed as rewards to the liquidity providers for the vault.
Yes. To encourage more liquidity for the vaults all fees that are generated from Buys and Sells (Minting and Redeeming) are passed to anyone that is staking their SLP against that vault. These rewards are paid out on a block-by-block basis, and are paid in the vault tokens you are using to stake.
Yes. The NFTX token is a governance token that can be used to vote on proposals and steer the direction of the organization. In total 650000 NFTX tokens will ever exist.
65K NFTX tokens are allocated to the founder of NFTX, Alex Gausman. These tokens are on a 5-year linear vesting schedule, without a cliff. Rewards on this vesting schedule are unlocked per block and added to the circulating supply until fully distributed.
65K NFTX tokens were originally supplied as liquidity by the NFTX DAO on an AMM.
130K NFTX tokens are held in the NFTX DAO Treasury and used for additional market-making activities on vaults, such as the CryptoPunks vault.
There are three main target audiences for NFTX: Investors, arbitrageurs, and NFT liquidity providers.
The main products are built for investors looking to buy and/or sell floor-priced NFTs without having to wait for a taker/maker on a secondary market.
The second audience we cater to are arbitrageurs, who can profit from ranging prices between NFT vault tokens and their underlying collaterals' floor prices on secondary markets. Arbitrageurs can use the products on nftx.org to interact directly with these pools.
The address of NFTX is: 0x87d73e916d7057945c9bcd8cdd94e42a6f47f776
If you have recently received a small amount of vToken as part of the buying process there are somethings you can do with it.
Anyone providing liquidity to vaults can bypass minting fees by using a zap to automatically include liquidity. Learn more in the .
You can see the APR for each of the different vaults on the page.
390K NFTX tokens were distributed during the origin , which has taken place from December 2020 to early January 2021. The tokens were granted to early community members through open bounties at various rates of ETH, as well as several NFTs. You can find a .
A third audience we cater to are NFT liquidity providers, who can profit from providing additional liquidity and/or inventory to one or multiple NFT vaults. Liquidity providers may use the products on to mint additional NFT vault tokens, which can then be supplied as liquidity.
NFTX is available for trading on decentralized exchanges. To find the best rates across multiple exchanges, we recommend using an aggregator such as . A .
V1 vaults can be viewed in the .
V2 NFTX Vaults can be found on the
Sell it on
Stake it as inventory on the
Stake it as liquidity (either on where you can then stake your SLP and earn fees) or as a .