thelp.xyz
Open in
urlscan Pro
75.2.60.5
Public Scan
URL:
https://thelp.xyz/
Submission: On December 30 via api from US — Scanned from DE
Submission: On December 30 via api from US — Scanned from DE
Form analysis
0 forms found in the DOMText Content
You need to enable JavaScript to run this app. The LP AN EXPERIMENTAL APPROACH TO BOOTSTRAPPING NFT LIQUIDITY AND REWARDING HOLDERS 100% ON-CHAIN. CC0. A NEW MODEL TO EMPOWER NFT CREATORS THAT SOLVES THE NFT LIQUIDITY ISSUE BY USING MINT PROCEEDS TO BOOTSTRAP LIQUIDITY, PROVIDES INSTANT BUY/SELL FUNCTIONALITY, AND REWARDS HOLDERS. Listings Your NFTs Buy Price 0.003834665589764277 ETH Slippage 5% Increase slippage to account for price increases during transaction. Additional amounts will be refunded. The LP #1020 Connect wallet The LP #1210 Connect wallet The LP #1214 Connect wallet The LP #1216 Connect wallet The LP #1218 Connect wallet The LP #1221 Connect wallet The LP #1226 Connect wallet The LP #1250 Connect wallet The LP #1252 Connect wallet The LP #1256 Connect wallet The LP #1258 Connect wallet The LP #1259 Connect wallet The LP #1260 Connect wallet The LP #1261 Connect wallet HOW IT WORKS TRUSTLESS ESCROW Funds and NFTs are held in trustless escrow for no more than 11 days. If the project doesn't sell out in 11 days the experiment ends and you can withdraw your ETH (minus gas fees). Learn more INSTANT LIQUIDITY Half of mint proceeds and all external royalties are used to create instant NFT liquidity. After the first 9k LP NFTs are minted an additional 1,000 are minted to provide liquidity for instant buys and sells. Marketplace functionality is built directly into the LP smart contract. Learn more HOLDERS COLLECT FEES Every time an LP NFT is bought or sold from the internal liquidity pool a fee is taken. Half of that fee is put into a pool for holders to claim. The other half goes back to the liquidity pool. Learn more SCENARIO 1 First 9k LP NFTs are minted within 11 days At this point the second phase of the experiment begins. Your NFTs are unlocked. Buying, selling, and transferring can now occur. Until this happens ETH and minted NFTs cannot be transferred, or sold. SCENARIO 2 First 9k LP NFTs are NOT minted within 11 days At this point the experiment ends and you can withdraw your funds (minus gas). The LP NFTs will remain in your wallet, but be locked forever on-chain. The underlying LP smart contracts, The LP Protocol, give the power back to NFT creators. By owning the liquidity, fees, and listings projects are no longer at the mercy of the rules of centralized marketplaces. It is our hope that we as a community will build upon this protocol and that new NFT projects will adopt it. ROADMAP • Expand upon the LP Protocol by offering bounties to the community. • Support projects using the LP protocol • Create listing aggregator for projects using the LP protocol to support NFT liquidity. TRUSTLESS ESCROW When you mint your LP NFT the ETH you paid to mint will be held in The LP smart contract. Your NFTs will be minted and transferred to your wallet, but you will not be able to transfer them, or sell them until the escrow period ends. Often times NFT projects fail before they begin. If this is the case the LP doesn't want you left holding the bag. The escrow period ends after the first 9k are minted, or after 11 days - whichever comes first. If the initial 9,000 LP NFTs are not minted within 11 days then the project is scrapped. You'll be able to withdraw your funds from the smart contract (minus gas fees). INSTANT LIQUIDITY This is when things get interesting. Once the first 9,000 LP NFTs are minted half of the mint proceeds are locked in the smart contract and an additional 1,000 NFTs are instantly minted using ERC-2309 to provide a pool of liquidity which enables instant sells and buys. All project royalties from external marketplaces like Opensea and LooksRare are added to this pool. The LP smart contract contains its own trustless marketplace functionality. If you'd like to sell an LP NFT you own then you can instantly swap it for ETH because of the liquidity pool from the initial mint proceeds, on-going royalties, and on-chain fees set in place by the LP smart contract itself. The buy and sell prices are derived from the following. • A = The amount of ETH in the pool • B = Number of NFTs owned by various people • T = Total supply of NFTs • T-B = Number of NFTs in liquidity pool • K = (A)*(T-B) = Our constant product (changes due to accumulating fees) • Buy Price = A/(T-B - 1) • Sell Price = A/(T-B + 1) • Fee = abs(A/(T-B) - A/(T-(B+-1)) HOLDERS COLLECT FEES Each LP NFT you own can be used to withdraw its pro-rata share of the earned fees. Any LP NFT that's purchased or sold from the LP smart contract will earn a fee. All fees can be claimed by LP holders. 100% ON-CHAIN The LP NFT art and traits are stored completely on-chain. To put the art on-chain a sprite sheet containing all the LP traits was generated, converted to a data URL and stored on-chain using SSTORE2. When an LP NFT is minted the traits are "randomly" selected in the smart contract. Using the on-chain sprite sheet, a dynamic SVG is created layering each trait on top of the other while referencing the single on-chain sprite sheet. Since the LP art is pixelated we can use built in browser properties to render tiny pixel images at arbitrary sizes. A note about the Safari Browser: Safari does not fully support the method used to render the on-chain image. It shows blurry at anything above 40px x 40px. If for some reason you are required to render your LP NFT image in Safari you can use a fallback canvas method, which we are using for the above preview images, to render a crisp image. TEAM MINT When the LP smart contract was deployed 1,000 LP NFTs were minted to a team wallet.