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MUSE DAODistribution of Muse staking reward
A few weeks ago we announced the start of single $MUSE staking to earn $MUSE bought back using the NFT20 protocol fees. We decided to migrate to a new staking contract that offers more flexibility and safety based on the xSushi smart contract:The new contract issues Staked Muse (sMUSE), an ERC20 that offers a new range of use cases for the $Muse ecosystem.The first contract had an arithmetic error spotted by Bailey T that could have locked forever some $Muse on the contract in the long term a...
MUSE DAO2 years anniversary community update
It’s been 2 years since the launch of the Very Nifty game that lead to the creation of the Muse DAO: An NFT venture builder owned by the community. In this article, we’ll take the time to write about some of our past releases and see where we are going. For the lookback, our past releases fit in the NFT universe and will be listed in several categories: Trading, Gaming, Tools, and experiments.NFT TradingNFT20 is our flagship product. The first NFT exchange that enabled trading tokenized floor...
MUSE DAONFT20 & MUSE Community Update
The Tao of Pooh the BearIt’s been a while since the last community update, in part because we’ve been growing and working on so many things that we didn’t have time to write one, but time is due.CommunityAfter 9 months of daily product iteration and investing time in the community, we are really happy with the state of things and enjoy more than ever the every day of coming to discord and discussing ideas, laughing with, and getting mad at anon pepes, a dream come true.We also see a consisten...
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MUSE DAODistribution of Muse staking reward
A few weeks ago we announced the start of single $MUSE staking to earn $MUSE bought back using the NFT20 protocol fees. We decided to migrate to a new staking contract that offers more flexibility and safety based on the xSushi smart contract:The new contract issues Staked Muse (sMUSE), an ERC20 that offers a new range of use cases for the $Muse ecosystem.The first contract had an arithmetic error spotted by Bailey T that could have locked forever some $Muse on the contract in the long term a...
MUSE DAO2 years anniversary community update
It’s been 2 years since the launch of the Very Nifty game that lead to the creation of the Muse DAO: An NFT venture builder owned by the community. In this article, we’ll take the time to write about some of our past releases and see where we are going. For the lookback, our past releases fit in the NFT universe and will be listed in several categories: Trading, Gaming, Tools, and experiments.NFT TradingNFT20 is our flagship product. The first NFT exchange that enabled trading tokenized floor...
MUSE DAONFT20 & MUSE Community Update
The Tao of Pooh the BearIt’s been a while since the last community update, in part because we’ve been growing and working on so many things that we didn’t have time to write one, but time is due.CommunityAfter 9 months of daily product iteration and investing time in the community, we are really happy with the state of things and enjoy more than ever the every day of coming to discord and discussing ideas, laughing with, and getting mad at anon pepes, a dream come true.We also see a consisten...
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NFT20 is a permissionless p2p protocol to tokenize NFTs and make them tradable on decentralized exchanges such as UniSwap or Sushiswap.
Anyone with an NFT can create a new pool or add his NFT to an existing pool and get ERC20 Token derivatives of their NFTs in a permission-less way, those tokens can be transferred and traded on DEXes right away. You can also swap your NFT for any other NFT of the same pool, no need to tokenize.
NFT20 also allows you to own a fractional share of an NFT in the collection. For example, if you own 50 COOL20 then it means that you own 50% of a Floor Cool Cats(the cheapest Cool Cats).
The NFT20 Pool contains Cool Cats that other users have deposited and you can perform different actions on it using COOL20. COOL20 is an ERC20 token created specifically for the Cool Cats NFT20 Pool and it can be traded on Uniswap.
Use cases for the NFT20 pool and COOL20:
You can deposit a Cool Cats into the pool for 95 COOL20 tokens.
You can use 100 COOL20 tokens to swap out any Cool Cats in the pool.
You can swap a Cool Cats with any other Cool Cats in the pool.
You can buy directly using ETH from the pool.
You can exchange your ETH for COOL20 on Uniswap.
You can exchange your COOL20 tokens for ETH on Uniswap when there is enough liquidity.
You can provide Liquidity for COOL20-ETH Pair and earn rewards in $MUSE.
Note: All Cool Cats are treated equally in the pool so you should only deposit Cool Cats that you think are common (i.e Floor Cool Cats)
We will go over each of the above use cases in more detail below.
Select the “Swap NFT to NFT” toggle above.
In “FROM”, select a Cool Cats from your wallet
In “TO”, select a Cool Cats from the pool that you like better
Note: Unlike using COOL20, you can swap a Cool Cats in your wallet for another Cool Cats in the pool without the 5% fee and only pay a gas fee.
You can deposit a Cool Cats into the pool and in return, you will get 95 COOL20 tokens. The remaining 5 act as a 5% fee and get distributed to $MUSE token holders.
If you click on the arrows between the “FROM” and “TO” fields, it will let you change the direction of the swap (just like Uniswap). Now you can swap 100 COOL20 for a Cool Cats!
There’s also a new feature where you can also directly buy a Cool Cats from the pool using ETH without dealing with COOL20. The NFT20 platform will do all the Uniswap operations for you in 1 transaction. There’s a 5% fee to it but it might be more cost-efficient since you can save on gas fees.
Since COOL20 is an ERC20 token, you can directly get it from Uniswap. You can also directly click on this link to access the COOL20 Uniswap exchange page.
Similarly, you can exchange COOL20 for ETH on Uniswap. The great part about this is that you do not need to look for a buyer (compared to OpenSea). Here’s the Uniswap link.
There will need to be enough liquidity in COOL20 in order to perform this operation.
7. Provide Liquidity for COOL20-ETH Pair
You can provide Liquidity to the COOL20/ETH pair .
Add liquidity to the Uniswap COOL20/ETH pair. .You will need to provide COOL20 and ETH in order to do it.
How does the Floor Price and the token price of COOL20 change?
The Floor Price of Cool Cats on NFT20 and the token price of COOL20 fluctuates with the buy and sell transactions.
If more people buy COOL20 tokens, then the COOL20 token price and the Floor Price (100 COOL20) of a Cool Cats on the NFT20 pool go up. If more people liquidate their COOL20 tokens for ETH, the price goes down.
Thanks to AltJumpman for creating the pool for the Cool Cats community
NFT20 is a permissionless p2p protocol to tokenize NFTs and make them tradable on decentralized exchanges such as UniSwap or Sushiswap.
Anyone with an NFT can create a new pool or add his NFT to an existing pool and get ERC20 Token derivatives of their NFTs in a permission-less way, those tokens can be transferred and traded on DEXes right away. You can also swap your NFT for any other NFT of the same pool, no need to tokenize.
NFT20 also allows you to own a fractional share of an NFT in the collection. For example, if you own 50 COOL20 then it means that you own 50% of a Floor Cool Cats(the cheapest Cool Cats).
The NFT20 Pool contains Cool Cats that other users have deposited and you can perform different actions on it using COOL20. COOL20 is an ERC20 token created specifically for the Cool Cats NFT20 Pool and it can be traded on Uniswap.
Use cases for the NFT20 pool and COOL20:
You can deposit a Cool Cats into the pool for 95 COOL20 tokens.
You can use 100 COOL20 tokens to swap out any Cool Cats in the pool.
You can swap a Cool Cats with any other Cool Cats in the pool.
You can buy directly using ETH from the pool.
You can exchange your ETH for COOL20 on Uniswap.
You can exchange your COOL20 tokens for ETH on Uniswap when there is enough liquidity.
You can provide Liquidity for COOL20-ETH Pair and earn rewards in $MUSE.
Note: All Cool Cats are treated equally in the pool so you should only deposit Cool Cats that you think are common (i.e Floor Cool Cats)
We will go over each of the above use cases in more detail below.
Select the “Swap NFT to NFT” toggle above.
In “FROM”, select a Cool Cats from your wallet
In “TO”, select a Cool Cats from the pool that you like better
Note: Unlike using COOL20, you can swap a Cool Cats in your wallet for another Cool Cats in the pool without the 5% fee and only pay a gas fee.
You can deposit a Cool Cats into the pool and in return, you will get 95 COOL20 tokens. The remaining 5 act as a 5% fee and get distributed to $MUSE token holders.
If you click on the arrows between the “FROM” and “TO” fields, it will let you change the direction of the swap (just like Uniswap). Now you can swap 100 COOL20 for a Cool Cats!
There’s also a new feature where you can also directly buy a Cool Cats from the pool using ETH without dealing with COOL20. The NFT20 platform will do all the Uniswap operations for you in 1 transaction. There’s a 5% fee to it but it might be more cost-efficient since you can save on gas fees.
Since COOL20 is an ERC20 token, you can directly get it from Uniswap. You can also directly click on this link to access the COOL20 Uniswap exchange page.
Similarly, you can exchange COOL20 for ETH on Uniswap. The great part about this is that you do not need to look for a buyer (compared to OpenSea). Here’s the Uniswap link.
There will need to be enough liquidity in COOL20 in order to perform this operation.
7. Provide Liquidity for COOL20-ETH Pair
You can provide Liquidity to the COOL20/ETH pair .
Add liquidity to the Uniswap COOL20/ETH pair. .You will need to provide COOL20 and ETH in order to do it.
How does the Floor Price and the token price of COOL20 change?
The Floor Price of Cool Cats on NFT20 and the token price of COOL20 fluctuates with the buy and sell transactions.
If more people buy COOL20 tokens, then the COOL20 token price and the Floor Price (100 COOL20) of a Cool Cats on the NFT20 pool go up. If more people liquidate their COOL20 tokens for ETH, the price goes down.
Thanks to AltJumpman for creating the pool for the Cool Cats community
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