EDDASwap’s highly anticipated NFT platform is now live!
EDDA holders will be able to stake their tokens to earn exclusive, limited-edition NFTs specially created for EDDASwap by the world’s leading 3D artists and motion graphic designers, including legends such as Primal Cypher, Space Yacht Labs, Cyrus James Khan, Stefan Grobe Halbuer, Rafi Amar, Alphie, layerInsane, Oz and more!
How the NFT platform will work
- The NFTs are distributed through two unique staking pools, similar to EDDASwap’s existing staking platform. Users can stake both their EDDA tokens and their EDDA LP (UNI-V2) tokens, and receive different sets of NFTs through each of these staking pools. EDDA LP tokens are given to you by Uniswap when you add liquidity to the EDDA/ETH pair, find out more here.
- For each EDDA or EDDA LP token staked, users will receive a certain number of “Samurai” points per day, as a reward for staking the tokens. These Samurai points are the NFT platform’s in-house currency, and they can be redeemed by the user in exchange for the NFTs of their choice.
- Each NFT available on the platform requires a certain number of Samurai points to redeem. The rarest NFTs created by the top artists will require the highest number of Samurai points. Therefore, the NFT platform rewards EDDA holders and users that stake their tokens for a longer period of time to accrue more Samurai points, by giving them exclusive access to the most desirable NFTs.
- Additionally, there is a maximum cap on the number of EDDA or EDDA LP tokens each user can stake, ensuring that no whales can monopolize any of the NFTs pools.
Step 1 — Transfer your EDDA/EDDA LP (UNI-V2) tokens into your Web 3.0 Wallet
The platform supports Metamask (preferred) along with a range of ERC-20 wallets supported by WalletConnect.
Step 2 — Stake the EDDA/EDDA LP tokens in their respective pools
Connect your wallet with a loaded EDDA/EDDA LP Balance (and sufficient ETH balance for GAS fees) to the app
Stake your tokens in its respective pool
Once the transaction goes through your staked tokens will show under ‘Your Balance’, if not simply refresh the page.
Wait for your Samurai points to be generated with time.
Step 3 — Redeem the NFTs of your choice
Based on the number of Samurai points that you own select any NFT that you wish to redeem and go ahead with the same by simply clicking on the ‘Redeem’ button.
Upon redemption, the NFTs will be automatically transferred to the user’s wallet. It will also show under the ‘My NFTs’ section.
They can be sold on secondary NFT markets such as OpenSea and Rarible or simply held as collectibles, being one of the first-generation collections of tokenized digital art.
Parameters of the EDDA Staking Pool
- For every 1 EDDA token staked in the platform’s EDDA staking pool, 0.5 Samurai points will be generated per day.
- The maximum number of EDDA tokens each user can stake will be capped at 10 EDDA.
- The highlights of the initial collection of NFTs available through the EDDA staking pool include exclusive works by leading artists such as Primal Cypher.
Parameters of the EDDA LP Staking Pool
- For every 1 $UNIV2-LP token staked in the platform’s EDDA LP staking pool, 2.5 Samurai points will be generated per day.
- The maximum number of $UNIV2-LP (EDDA LP) tokens that each user can stake will be capped at 4 EDDA LP Tokens.
V1 of the NFT platform, has a range of NFT series with NFTs coming in different variants. Common, Standard, Rare, Super Rare and Ultra Rare NFTs can be redeemed by the EDDA and EDDA LP stakers.
