NFTX to provide 500 ETH loan to FloorDAO to bootstrap fair launch (proposal, snapshot)
NFTX to provide tech and advisory resources to FloorDAO
FloorDAO to allocate 2% pFLOOR to NFTX (tokenomics)
As the largest decentralized exchange for NFTs, NFTX is a key platform allowing users to easily deposit their NFTs into a vault and in return mint that user a token that can be traded on platforms like Sushi, Uniswap, and Bancor.
In short they provide one the largest platforms and mechanisms for FloorDAO to generate high yield by depositing liquidity to bluechip NFT tokens like $PUNK. Aligning incentives through this partnership is crucial for the long term success of the DAO’s vision and fair launch.
NFTX is the leading platform for creating liquid markets for illiquid Non-Fungible Tokens (NFTs). Users deposit their NFT into an NFTX vault and mint a fungible ERC20 token (vToken) that represents a claim on a random asset from within the vault. vTokens can also be used to redeem a specific NFT from a vault.