NFTY DeFi Protocol Price
NFTYThis cryptocurrency is not listed for trading or services on Gate.io.
NFTY DeFi Protocol(NFTY) Price Live Chart
NFTY DeFi Protocol(NFTY) Price Today
NFTY DeFi Protocol(NFTY) price today is $0.001469, with a 24-hour trading volume of $346.43 and as such NFTY DeFi Protocol(NFTY) has a market cap of --, giving it a market dominance of +0%. The NFTY DeFi Protocol(NFTY) price moved +0.29% in the last 24 hours.
NFTY Price Data
- 24H Volume$346.43
- All-Time High(ATH)$0.9306
- 24H High$0.001469
- All-Time Low(ATL)$0.001001
- 24H Low$0.001465
NFTY Market Cap Infos
- Fully Diluted Valuation$7.61K
- Market SentimentNeutral
NFTY Supply
- Total Supply5.18M NFTY
- Max Supply5.18M NFTY
About NFTY DeFi Protocol (NFTY)
Contract
0x3085154...77a66b17b
Explorers
etherscan.io
Website
nftytoken.app
Community
"NFTY is a DeFi utility token used to create a reputation layer for NFT auctions, employing gamified staking and "farming" activities to crowdsource reputation data. The process uses economic incentives and rewards funded from 7.5% of the final payout of any auction which uses the NIFTY protocol. The reward is distributed to a pool of “endorsers” or “advocates” in proportion to each token holder's respective endorsement allocation amount, in NFTY tokens, to auctions on NFT exchanges which support the protocol.
This incentive gives the participants the challenge of defining the best strategy to “endorse” auctions based on their ability to close the sale, possible amount of the final payout, quality of the NFT being auctioned, and the number of other advocates currently endorsing the auction. The reward is distributed proportionally to the social power of all advocates: i.e. if Person A allocates 10 NFTY to an auction and Person B allocates 20 NFTY to it, Person A gets 1/3 of the 7.5% advocacy reward. During an auction's bidding period, allocated NFTY tokens are locked and unable to be unstaked until after that auction is completed and the NFT is sold, at which point allocated NFTY tokens are unlocked for reallocation or unstaking.
This creates a multitude of possible strategies without incentivizing the endorsement of non-sellable, low-quality, or fraudulent products and spammy content as doing so is not economically viable. Overall, this acts as a filter and data analytics platform where a user can determine the degree of desirability and expected sale and potential value of an NFT. The token supply has no cap, but can only be increased through staking which yields a 13.579% APR. Staking is required to enable the endorsement/advocacy mechanisms."