Token Utility
The native token of Eldorado Market plays a crucial role in the ecosystem, providing multiple utilities that enhance user engagement and platform functionality. The token is designed to drive the platform's economy, incentivize participation, and offer unique opportunities for creators, collectors, and enthusiasts. The primary utilities of the native token are as follows:
Fee Payments
Native Token for Fees: All platform fees, including NFT minting fees, sale listing fees, and premium membership subscriptions, will be charged in the native token. This creates a consistent demand for the token and ensures that it remains integral to all transactions on Eldorado Market.
Simplified Transactions: Using the native token for all fees streamlines the payment process, providing users with a seamless and efficient experience. It also incentivizes users to hold and use the token, further integrating it into the platform's ecosystem.
Economic Growth: Charging fees in the native token contributes to the overall economic growth of Eldorado Market, as it fosters a self-sustaining economy where token utility directly correlates with platform activity and user engagement.
Boosting NFT Rankings
Leaderboard System: Eldorado Market will feature weekly, monthly, and all-time leaderboards showcasing top NFT collections and creators. These leaderboards are designed to highlight outstanding contributions and popular assets, driving visibility and recognition within the community.
Boosting Rankings: Creators and collectors can use the native token to pay or stake in order to boost the ranking of their NFTs on the leaderboards. This mechanism allows users to enhance the visibility of their collections, attracting more attention and potential buyers.
Incentivized Participation: The ability to boost rankings with the native token incentivizes active participation and engagement on the platform. It encourages creators to continually improve and promote their work, fostering a competitive and dynamic marketplace.
Token Staking: By incorporating staking, users can temporarily lock their tokens to boost their NFTs’ rankings, which promotes long-term commitment to the platform. Staking also adds an additional layer of utility for the token, driving demand and reducing circulating supply.
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