Starting today we added 2 new pools to our liquidity provider incentive program!
$MEME20 and $MASK20 holders can now earn $MUSE when they add liquidity on Uniswap with ETH, simply deposit your LP tokens on nft20.io/farm and start earning rewards.
The MASK20 pool gets 62 $MUSE a day as rewards.
All other pools (meme20, doki20, ndr20 and chonk20) will get 47 $MUSE a day as rewards.
Click here to check out the Hashmasks pool on NFT20
What is NFT20?
NFT20 is a permissionless NFT DEX with the objective of bringing liquidity to NFT projects and finding the right price for users, collectors and funds for investing into NFTs.
How does the $MASK20 pool work?
You can deposit any Hashmasks NFTs into the pool and get 95 $MASK20 back, you can use MASK20 to add liquidity on Uniswap and trade MASK20-ETH.
You can deposit 100 $MASK20 back into the pool at any time and choose which MEME NFT to redeem. The 100 $MASK20 you deposit gets burned.
How to Sell a rare Hashmask
It is advised to lock common NFTs into the general pool as you’ll get the same 95 $MASK20 tokens for all NFTs, no distinction.
If you have a rare Hashmask NFT, you can create a dutch auction within the asset page and set your own price in $MASK20.
How to Buy Back an NFT from the Pool
To get back an NFT from the pool you can either swap your Hashmask NFT directly to another NFT available on the pool, or buy 100 $MASK20 on Uniswap and buy an NFT from the pool.
Arbitrage with Uniswap and Opensea
Based on our past pools, there is a lot of arbitrage that can be had once liquidity is added to $MASK20-ETH.
The goal of the NFT20 pools is to create a price floor for common NFTs and make them liquid on Uniswap.
Think creatively and you might find some nice arbitrage opportunities.
Are there any fees involved?
Besides the regular Ethereum Gas fees, When you tokenize an NFT the pool contract mints 100 tokens, 95 go to you and 5 go to our factory to be distributed to $MUSE holders.
There are no fees for swapping, or when getting back a Hashmask NFT from the pool but you’ll need 100 MASK20 to get a Hashmask back.