FeSwap swap pair NFT #
FeSwap swap pair NFT bid #
Creation of the FeSwap swap pair and 60% of platform share of the swap pair exchange profit are controlled by the corresponding swap pair NFT owner.
The swap pair NFT is sold by public auction. The first bidding transaction creates the swap pair NFT, and the highest price bidder within the next two weeks wins the NFT. The detailed bidding rules are as follows:
Feswap creates swap pair NFT smart contract based on Ethereum. One NFT corresponds to one swap pair, and the initial price of each NFT is 0.2 eth, and FeSwap has the right to modify the initial price.
Anyone can bid for a swap pair NFT as long as the bidding price is equal to or higher than the initial price. In the first successful bidding, the swap pair NFT is created, and the bidder of this transaction will receive 1000 FESW for free;
Within the two weeks after the creation of NFT, any person can bid with a higher price:
When the NFT price is less than 1 ETH, the price increase shall be at least 0.1 ETH;
When the NFT price is higher than 1 ETH, the price increase shall be at least 10%.
Each bidder who bids for an NFT will receive 500 FESW free of charge, and 10% of the bid price increase will be sent to the former bidders of the NFT
If the following two conditions are both met, the bidding for a swap pair NFT ends, and the final bidder gets the NFT:
Current time since the NFT creation is more than: 2 weeks
Current time since the last bidding is more than: 2 hours
The successful bidder of an NFT becomes the owner of the NFT and will receive the number of FESW corresponding to the bidding price at the ratio of 1 ETH = 20,000 FSW;
FeSwap NFT owner rights #
The NFT owner can create the corresponding token swap pair by the Feswap exchange router contract, and set or modify the recipient address of the part of the swap pair's exchange profit, which is 5% of the total exchange profit.
NFT owners can also sell their own NFT at a specified price by FeSwap NFT smart contract, anyone else can get the NFT with this price.
Usage of the NFT bidding income #
All the income from NFT bidding will be used for the development and maintenance of the FeSwap exchange， and FeSwap will regularly publish the fund usage information.
The bidding mechanism of swap pair NFT could improve the decentralization characteristics of the FeSwap exchange. Feswap can introduce a large number of NFT token owners to participate in FeSwap governance by transferring most of the exchange income to the NFT token owners.
Considering their own interests, NFT token owners, on one hand, will put forward requirements for the development and management of the FeSwap exchange; on the other hand, they are willing to take the initiative to use their own resources to introduce more users to provide liquidity and conduct token swap in FeSwap. It will benefit their self, and also make FeSwap bigger and stronger.