This is a quick introduction to DOKI20 on NFT20, a permissionless DEX which allows NFTs to be fractionalized and converted into ERC20 tokens tradeable on Uniswap. It is game changing protocol for NFT valuation, liquidity, and swapping. This article will also teach you how to stake DOKI20/ETH LPs to earn some great APY rewards in $MUSE.
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WARNING: NFT20 is NOT a NFT Staking Platform. Depositing NFTs means you are giving up ownership of the NFT and swapping it in exchange for DOKI20 tokens. For this reason, it is highly recommended to only deposit common NFTs into the pool.
How DOKI20 on NFT20 works
When you deposit any or a batch of DOKI #NFTs into the pool, you receive a fixed amount of 95 DOKI20 tokens per NFT. DOKI20 is traded on Uniswap, which means you get instant value from your NFTs, and the current floor price for any DOKI NFT is $26 (95 x Price of DOKI20 token)
Obviously, some NFTs are worth more than others. So, if you have a rare NFT, it’s probably worth more than 95 DOKI20 tokens. In this case, you can host a decentralized dutch auction right with the DOKI20 asset page. This provides a means for you to potentially get more DOKI20 tokens for more valuable NFTs.
DOKI20 is a token that’s tradeable on Uniswap, just like any other token. Liquidity providers are incentivized by rewards in $MUSE. LP tokens can be staked on the NFT20 page.
Anyone at anytime can swap 100 DOKI20 tokens for any NFT that is deposited into the pool.
$MUSE Farming Tutorial
1// Obtain DOKI20 tokens by either:
a. Purchase on Uniswap: https://info.uniswap.org/pair/0x68b049C8BD1d8b20814B41c73A73aB126C19B42e
b. Swap some DOKI NFTs for DOKI20 tokens on the NFT20 asset page: https://nft20.io/asset/0x22c4ad011cce6a398b15503e0ab64286568933ed
2// Add DOKI20/ETH Liquidity here: https://info.uniswap.org/pair/0x68b049C8BD1d8b20814B41c73A73aB126C19B42e
3// Stake DOKI20/ETH LP tokens here: https://nft20.io/farm
About $MUSE
$MUSE is a governance and fee sharing token with max supply 1 million. By holding $MUSE you are entitled to protocol fees, governance votes, and more. $MUSE gives you passive reward and exposure to all NFT projects listed and traded on the NFT20 protocol. Thus you may want to hold $MUSE for the long-term.
Join the Doki Squad!
- DeGacha: https://degacha.com
- Discord: https://discord.gg/K32BeEY
- Telegram: https://t.me/ddnfg
- Website: https://dokidoki.finance/
- Twitter: https://twitter.com/dokidokifinance
