$SFUND Buyback & $SNFTS Burn Mechanisms
Hello Seedify Community. In the first part, we have shared you the very basic information regarding Seedify NFT Space, $SNFTS and the airdrop campaign. In this second part, let's start with more info on how each transaction made in the Seedify NFT Space will add value to $SFUND and $SNFTS tokens. As you remember, the commission fees on Seedify NFT Space were:
Regular: 2% commission - when $SNFTS is not being used
Discounted: 1% commission - when $SNFTS is being used
- When a trade takes place between two parties, these commissions are implemented to both parties.
- When a regular commission gets taken, it is deducted from the currency NFT is listed with, so for example if an NFT is listed as 1 ETH, the commission would be 0.02 ETH.
- However, if you have $SNFTS in your wallet for the same trade example above, then it will deduct the commission as in $SNFTS (worth of 0.01 ETH) in such a trade.
regular commissionis being used 2/4 will go towards Seedify NFT Space treasury, while 1/4 goes towards $SFUND buybacks, and the other 1/4 goes towards buying NFTs for the reward drops.
discounted commissionis being used, 1/4 will go towards Seedify NFT Space treasury, while 2/4 goes towards $SNFTS burn, and the other 1/4 goes towards buying NFTs for the reward drops.
Therefore, activating both $SFUND buybacks and $SNFTS burns as well as treasury for growth and more NFT rewards drops as the platform volume and activity increases.