Frozen… thawed… liquid.
@lofitheyeti will be the first team on @SuiNetwork to launch with liquid NFTs. Mark your calendars for October 14th!
Let’s dive into Lofi and why this matters. 👇🏼🧵
$LOFI launched in late 2024 with 1B supply. The team demonstrated their commitment to community early on by buying 25% of the token back to fund ops, listings, and airdrops.
Since then, they’ve hit big milestones such as a partnership with Fox Wallet and becoming listed on @kucoincom.
Additionally, the Lofi community has made a real-world impact by donating to important causes around the world, such as @H2oTayaba, Pakistan's fastest-growing social enterprise tackling water scarcity.
The team has cultivated a thriving community, with fast, strong growth and momentum. In addition to their token, Lofi has launched one of the top NFT collections on Sui: Mystic Yetis.
Lofi proves that meme projects can combine culture and impact as real builders. That’s exactly why we are honored to partner with them as the first collection to launch with liquid NFTs.
So, what are liquid NFTs?
Liquid NFTs were created in-house by the TradePort team to solve for liquidity problems that NFTs often face.
- If you want to get instant liquidity on your NFT, you need to sell into a collection bid, which is below the floor price.
- Owners of mid-tier and rare NFTs struggle to sell them above the floor, even though they are more valuable.
- As a collector/trader, it’s impossible to get exposure on an NFT collection if you’re priced out.
Liquid NFTs solve for this problem.
Mystic Yetis will be paired with a new fungible token called MYSTIC. The complete allocation of the fungible token will be distributed amongst the NFTs in the collection based on rarity.
This mechanic opens up new ways to trade and earn NFTs and can be exchanged for that fungible token price via the bridge and vice versa. MYSTIC will be available to be traded back into Sui, $LOFI, or any other token via TradePort.
Earn by staking or by providing LP
You’ll be able to do more than just trade your Mystic Yetis with liquid NFTs. You can also provide liquidity and earn fees, just like on any DEX.
Additionally, a portion of interface swap fees (not LP fees) will be directed to NFT holders. The best part? No staking required. Holders automatically earn rewards in both Sui and MYSTIC.
The benefits of Liquid NFTs?
✅ Earn rewards by holding NFTs
✅ Generate earnings by providing LP
✅ Ability to gain exposure via the token if you’re priced out of the NFT
✅ Opportunities for instant liquidity
✅ Rare and mid-tier NFTs unlock the value they are designed to have
TradePort is proud to stand with @lofitheyeti as we take this next step into a new era for NFTs on Sui.
Mark your calendars for October 14th!
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