Marketplace Rewards Season 1
We are pleased to announce the beginning of our first rewards season at Hinata.io and the release of our curated anime NFT marketplace. As part of a multi-season schedule for our community, we are rolling out the inaugural phase to bootstrap our token ecosystem and prepare for our upcoming ERC-20 token airdrop.
For the next few weeks all users who list and purchase NFTs on Hinata.io will be credited with EXP. EXP is an off-chain reward for on-chain activity on the Hinata NFT marketplace. During season 1 all users can earn EXP and fight for the top 420 spots on the leaderboard. Listing a NFT generates between 10 and 50 points depending on which tier the collection is considered. For example, listing an Azuki NFT will net a user 50 points. Trading is another method of generating EXP, where both the buyer and seller receives an EXP amount proportional to the total cost of the transaction, calculated by (n)eth*200. For example, a NFT sold for 10 ETH will reward both parties with 2000 EXP. Although we only currently allow transactions done in WETH, we do intend on allowing NFTs to be transacted via ETH and USDC in the near future.
There is no limit on how many NFTs a user may list and there is no extra reward for listing at or below floor price on other marketplaces. Cancelled listings will not generate any EXP. For the time being we are only supporting on-chain listings, which we understand can be gas intensive. In the next weeks we will be rolling out gasless listings with a signature verification scheme similar to other marketplaces, so all that’s needed is an initial approval transaction for a collection before NFTs can be listed for sale and for auction.
What is EXP for?
EXP will have several roles in the Hinata ecosystem. Because the system is off-chain, it is the ideal format for creating airdrop and allow listing entries, prize boxes and lootbox-style rewards, and new mints by partner artists and collections. Most importantly, users will be able to ‘cash in’ their EXP for the Hinata token in the very near future.
At the end of Season 1 we will be proceeding with our Token Generation Event (TGE). In Season 2 verified creators will be able to mint and list their own works for a special bonus. Seasons 3 and 4 will focus on offers, collection management, bug bounties and other types of activity to encourage healthy liquidity.
Keep in mind our marketplace has a 1.5% base fee, and we have programmed collection royalties to match OpenSea. We’ll keep an eye out for those attempting to abuse the system so we can ensure fairness for honest participants. Our goal is to see a healthy distribution of tokens across all account sizes.
In the future we will deploy our tiered fee system for token and NFT holders from partner communities. Read more here
Lastly and as always, we would like to thank our community for all of the patience and support, along with the many who utilized and provided feedback for our alpha version!
Signed,
The Hinata Team