🤓 How wNOT works: detailed explanation
Well, what a time! We thought of launching the pool with NFTs from one of the most OG collections on TON, but whole wNOT activity kept us from it. Let’s see the results of the work we as community achieved:
* 3208 holders of wNOT
* 24129 NFT locked — 3.53% of all Notcoin Pre-market Bonds
* 548k 24h trading volume & > 561k TVL
* Numerous publication by our dear colleagues and frens
* Improved the life and experience of traders willing to make a bet and get their hands on Notcoin Pre-market NFT vouchers
We saw numerous questions and great explainer videos on how it works (btw, we have a quick guide for those who aren't sure how to swap their vouchers into wNOT). Let’s dive into details how this improvement works and how connection to Notcoin is made:
🟡 wNOT is a fungible token, which is issued once user locks Notcoin Pre-Market NFT voucher. This is not a free operation there is a ~20% commision fee as of the moment of publication.
🔄 The NFT is getting locked in a special contract and anyone who gets 10M wNOT can get any NFT from the pool back. With Shardify commission of course.
🤑 Now to the hardest part: pricing. In theory, price for anything depends on the amount of demand and supply. Number and quantity of sellers and buyers. In practice, with this setup the price of wNOT is connected with the price of 10M Notcoin Pre-market NFT vouchers through the smart contract. Whole supply of smart contract can be tracked here.
💎 When trading wNOT you need to pay attention to several technical factors, which can affect the price: once Notcoin minting starts, wNOT holders will first need to unwrap 10M wNOT back to NFT Voucher, then convert NFT Voucher to Notcoin with whatever mechanism which will be there. These steps will require additional gas cost, which market could include in wNOT price.
UPD: there will be some mechanism to convert wNOT to NOT!
🔬 So what wNOT really is — fungible token which price is correlated with the price of Notcoin Pre-market NFT. And price of Notcoin Pre-market voucher supposedly can be correlated with the price of Notcoin. So wNOT price reflects market appetite on Notcoin because users can effectively purchase or create (through NFT submission) any amount of wNOT and do with it whatever they want. And we think it is beautiful.
🙌 What’s next. We released a Telegram Mini App which allows you to fractionalize NFTs right here without leaving Telegram @shardify_bot. We plan to launch next collection and keep you posted about the progress wNOT makes.
Get wNOT at Shardify.
Purchase at STON.fi
Well, what a time! We thought of launching the pool with NFTs from one of the most OG collections on TON, but whole wNOT activity kept us from it. Let’s see the results of the work we as community achieved:
* 3208 holders of wNOT
* 24129 NFT locked — 3.53% of all Notcoin Pre-market Bonds
* 548k 24h trading volume & > 561k TVL
* Numerous publication by our dear colleagues and frens
* Improved the life and experience of traders willing to make a bet and get their hands on Notcoin Pre-market NFT vouchers
We saw numerous questions and great explainer videos on how it works (btw, we have a quick guide for those who aren't sure how to swap their vouchers into wNOT). Let’s dive into details how this improvement works and how connection to Notcoin is made:
🟡 wNOT is a fungible token, which is issued once user locks Notcoin Pre-Market NFT voucher. This is not a free operation there is a ~20% commision fee as of the moment of publication.
🔄 The NFT is getting locked in a special contract and anyone who gets 10M wNOT can get any NFT from the pool back. With Shardify commission of course.
🤑 Now to the hardest part: pricing. In theory, price for anything depends on the amount of demand and supply. Number and quantity of sellers and buyers. In practice, with this setup the price of wNOT is connected with the price of 10M Notcoin Pre-market NFT vouchers through the smart contract. Whole supply of smart contract can be tracked here.
💎 When trading wNOT you need to pay attention to several technical factors, which can affect the price: once Notcoin minting starts, wNOT holders will first need to unwrap 10M wNOT back to NFT Voucher, then convert NFT Voucher to Notcoin with whatever mechanism which will be there. These steps will require additional gas cost, which market could include in wNOT price.
UPD: there will be some mechanism to convert wNOT to NOT!
🔬 So what wNOT really is — fungible token which price is correlated with the price of Notcoin Pre-market NFT. And price of Notcoin Pre-market voucher supposedly can be correlated with the price of Notcoin. So wNOT price reflects market appetite on Notcoin because users can effectively purchase or create (through NFT submission) any amount of wNOT and do with it whatever they want. And we think it is beautiful.
🙌 What’s next. We released a Telegram Mini App which allows you to fractionalize NFTs right here without leaving Telegram @shardify_bot. We plan to launch next collection and keep you posted about the progress wNOT makes.
Get wNOT at Shardify.
Purchase at STON.fi