Inactive
nfty NFTY DeFi Protocol
$ 0.001469
-0.6%
0.072183 BTC
-0.21%
2 satoshies
Market Cap
-
24 Hour Trading Vol
346.4339 $
Circulating Supply
-
Total Supply
5,18 MLN.
Max Supply
5,18 MLN.
Fully Diluted Valuation
7,614.78 $
Coin Information
This coin is no longer being updated and is inactive. Its information may be updated in the future, but it is not currently active.
Last updated 11 August, 2024
Info
Contract
0x3085154623f51b00dedfc6ceeb5197277a66
b17b
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NFTY DeFi Protocol Price Statistics
0.001469 $
0.001454 $ / 0.001468 $
346.4339 $
#23679
0.9306 $
-99.84%
10 November, 2021, (4 years ago)
0.001001 $
46.79%
23 April, 2023, (3 years ago)
About Coin
"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."
What is the highest value NFTY DeFi Protocol (NFTY) has ever reached?
NFTY DeFi Protocol (NFTY) reached its peak price at 0.9306 $ on 10 November 2021, approximately 4 years ago ago. Presently, the current price is -99.84% lower than this all-time high.
What is the historical minimum price for NFTY DeFi Protocol (NFTY)?
The minimum price reached for NFTY DeFi Protocol (NFTY) was 0.001001 $, documented on 23 April 2023, more than 3 years ago. In comparison, the current price is 46.79%, it above this historical low.
What is the fully diluted valuation of NFTY DeFi Protocol (NFTY)?
The fully diluted valuation (FDV) of NFTY DeFi Protocol (NFTY) stands at $ 7,614.78. This figure reflects the maximum potential market capitalization, considering that the current circulating supply is at its maximum of 5,180,974.6 NFTY tokens. The realization of this FDV might take several years depending on the emission schedule of NFTY tokens.
How to add NFTY DeFi Protocol (NFTY) to MetaMask?
By integrating NFTY DeFi Protocol (NFTY) into MetaMask, you gain access to features like monitoring your token balances and trading on decentralized exchanges. To do this, you'll need to import NFTY as a token. You can either manually import NFTY by copying its contract address (0x3085154623f51b00dedfc6ceeb5197277a66b17b) or use MetaMask's Chrome extension to add NFTY with a single click through P.CASH.
How to add NFTY DeFi Protocol (NFTY) to TrustWallet?
Incorporating NFTY DeFi Protocol (NFTY) into your TrustWallet setup enables you to monitor your token holdings and engage in decentralized exchange transactions, among other functions. To include NFTY, you can either manually import it using the contract address (0x3085154623f51b00dedfc6ceeb5197277a66b17b) or conveniently add it to Trust Wallet with just one click via P.CASH if you've installed Trust Wallet's Chrome extension.
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