Everything you need to know about multi currencies on enter, and a bit about how it can benefit $NFTART!
You can now buy NFTs on enter with $NFTART, BNB and BUSD! It's easy and intuitive on the site, just pick an NFT and buy it for whatever currency it is listed for.
See a nice NFT listed for a currency you don't have? Click the buy $NFTART button in the bottom right corner. You'll be taken to a widget where you can buy and swap to any of the three currencies.
Fees with different currencies 💸
When using our in-house currency $NFTART, the only fees you have to consider is the BSC gas fee. Sales in BNB and BUSD are taxed with a 14% fee. The fee is included in the displayed listing price.
Can I list an old NFT for BNB/BUSD?
Yes, you can! Simply un-list the NFT, and choose the currency you'd like to sell it for.
💡Why did you introduce multi currencies?
On 18/10 - 21, the community decided to introduce BNB and BUSD as additional currencies on the enter platforms through our very first governance proposal. It was proposed with the goal of opening up to a broader range of artists and collectors, as well as increasing the buy pressure and reducing the volatility of $NFTART. You can read the full proposal and the reasoning for it here
What is the fee used for?
10% goes to buying back $NFTART, pairing it with BNB and adding it to the liquidity pool. This ensures that every sale on an enter platform leads to a net purchase, buy pressure and increased liquidity for $NFTART. The remaining 4% go to a transparent treasury used to fund enter initiatives and long term development of the company.
What about $NFTART? 🤔
Sales on enter with $NFTART always lead to a slightly higher burn + redistribution to all token holders.
Because of the the 10% buyback, BUSD and BNB sales still burn and redistribute tokens, as well as attract higher value sales, and add a net buying pressure on every sale. It also decreases volatility by adding permanent liquidity for $NFTART.
As $NFTART sales are exempt from any transaction fee, it remains competitive as a currency on the platforms.
We will keep adding use cases in the future to grow the utility of the $NFTART token on all enter platforms, such as staking, governance, loot-boxes and much more.
🔒Who controls the treasury and buybacks?
All fees collected from BNB & BUSD sales will be automatically split and transferred into our Gnosis multi-signature safes to ensure an extra level of safety. This is the same treasury multi-signature solution other major BSC projects like PancakeSwap use. The fees that go toward buyback and liquidity growth will be manually controlled for strategic unannounced buybacks. All buyback and added liquidity transactions will be posted in a transparent way each week.
Still got some questions about multi currencies? Get help here!