Listing Rewards
The best user experience is delivered with a combination of great UX and deep liquidity. The Pixel DAO aims to always incentivize user actions that create value across our ecosystem.
Pixel rewards listers (NFT Sellers) with Pixel tokens if their listings comply with all of the following criteria:
The listing is required to be active for a minimum of 130 blocks continuously, (about 30 minutes) or be purchased before then.
The listing belongs to one of the the top 30 collections ranked by the past 24-hour volume. Volumes will be calculated based on the sum total of OpenSea, LooksRare and Pixel volume combined.
Only ERC-721 NFTs are being considered at the moment.
The reward amount changes based on the price difference between the new listing and the collection floor.
During the initial phase, the treasury will allocate 200,000,000 Pixel tokens (2% of all tokens on a fully diluted basis) as listing rewards. Such rewards will be distributed daily at 12 UTC at a rate of 2,000,000 tokens per day during 100 days. Pixel's listing rewards program applies not only to DAO-controlled storefronts but also to all other community storefronts built on the ecosystem.
Users receive Pixel Points every 130 blocks if their listings comply with all of the above criteria. There's no limit regarding the number of NFTs one wallet can list for sale. As they say, the more the merrier. Token rewards are distributed to wallets on a pro rata basis depending on how many points an individual wallet accrues during each 24 hour period. The amount of points received is based on the distance to the floor (expressed as a multiple of the floor price) and is given by the following function:
If the listing is at the current floor or below, it receives 16 points.
If the listing is between the floor and double its value, then it receives p points where p is given by , and x is the floor multiple (1 at the floor value, 2 at twice the value). It follows that the points per listing can go from 16 to 0 as the price moves from below the floor to twice its value.
If the listing is above twice the value of the floor, then it receives no points.
The initial phase of the listing rewards program is designed with the principal of simplicity. We are aware that not all listings are equally valuable from a liquidity perspective and the behavior Pixel wants to encourage might change as the Pixel ecosystem grows and matures. Reward rules regarding listing fees could change phase two as we continue to learn. Some criteria that we will take into account when changing listing rewards:
Pixel's protocol share of the liquidity in comparison to other platforms. For example, if there are 100 NFTs listed for sale across all major protocols and Pixel has 95% marketshare, the marginal listing for that collection will add less value to buyers than the marginal listing for a collection that only has 10% marketshare in Pixel's aggregated liquidity contract.
Supply-demand imbalance. Certain metrics such as listing to purchase time distribution can serve as proxies of excess demand or excess supply.
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