X2Y2 is an Ethereum decentralized marketplace launched on Jan 28, 2022. The project has no private sale. 1.5% of the token was launched through an Initial Liquidity Offer (ILO) on February 14, 2022. The project has several features.
- Bulk listing - List multiple NFTs with only one transaction.
- Batch purchasing - Buy a bulk of NFTs at once.
- Real-time notification - Send activity notifications / emails of your items.
- Rarity integration - Browse NFT traits rarities without installing extensions.
Apart from NFT trading, X2Y2 also enables users to utilize their NFTs to borrow crypto assets. X2Y2 charges a 0% fee for both borrowers and lenders at the moment.
$X2Y2 is the native utility token of X2Y2, which can be used for staking. The token is used for user incentives and platform governance.
- Gas fee / network fee: Paid to the Ethereum blockchain to process the transaction and add it to the blockchain. The amount varies based on how busy the network is. Paid by the buyer on top of the price.
- Platform fee: A flat 0.5% fee on the amount paid for any item sold on X2Y2. Deducted from the price of the item. All of the fees are charged in $WETH and then redistributed to stakers of $X2Y2.
- Creator fee / royalties: Each project can set a unique creator fee percentage on the collections listed. Deducted from the price of the item. Users can select from 3 levels of loyalties to pay: 100% (default), 50%, or 0%.
Earn Market Fees
According to the disclosure, 100% of market fees collected are rewarded to X2Y2 stakers. The rewards will be eligible for stakers every 24 hours and will be released linearly over another 24 hours. The reward is paid in $WETH.
Trading Rewards
Both NFT buyers and sellers will be rewarded with $X2Y2 tokens via token Emission. Among the 650,000,000 $X2Y2 tokens dedicated to staking rewards, 449,930,000 are reserved for trading users (624,902.80 $X2Y2 per day, lasting for 720 days).
- 380,000.00 X2Y2 are reserved for sellers;
- 20,000.00 X2Y2 are reserved for buyers;
- 224,902.80 X2Y2 are reserved for future usage.
X2Y2 Staking Rewards
By staking X2Y2, users can earn the market fee reward as well as the $X2Y2 token reward. Among the 65% of $X2Y2 (650,000,000) tokens dedicated to staking rewards, 20% of the token (200,070,000) are distributed to $X2Y2 stakers.
LP Staking Rewards
5,000,000 (0.5% of the total supply) $X2Y2 tokens will be used to provide LP staking rewards.
Airdrop to OpenSea Users
120,000,000 $X2Y2 (12% of the total supply) is dedicated to the airdrop. All 861,417 users who have traded on OpenSea's smart contract from day 1 to Ethereum Block #13916166 (first block of 2022) are eligible for the airdrop.
