LooksRare: Community-first NFT Marketplace

LooksRare is the community-first NFT marketplace that actively rewards traders, collectors and creators for participating.

 

By NFT people, for NFT people - This is who we are.

Part of being community-first means that LooksRare rewards, empowers, and gives back to the platform's users and creators.

  • 💎 Get rewarded - Users that buy or sell any NFTs on LooksRare earn LOOKS tokens.

  • 🤝 Share the platform fees - 100% of trading fees are earned by LOOKS stakers. 

  • ⚡️ Creators get paid instantly - Creators get royalty payments at the moment of sale.

 

On LooksRare you can get the rewards below:

Trading rewards

Users who trade any NFTs on LooksRare earn trading rewards in the form of LOOKS, LooksRare’s platform token.

Both the buyer and seller of an item earn rewards for their trading volume (except for private sales).

Trading rewards will be earned over 4 phases with differing reward rates, based on a schedule of 6,500 Ethereum blocks per day.

Phase A

  • Length: 195,000 blocks (30 days)

  • LOOKS Per Day For Trading Rewards: 2,866,500.00 LOOKS

Phase B

  • 585,000 blocks (90 days)

  • 1,361,587.50 LOOKS

Phase C

  • 1,560,000 blocks (240 days)

  • 537,468.75 LOOKS

Phase D

  • 2,346,250 blocks (361 days)

  • 286,650.00 LOOKS

Listing rewards

LooksRare’s Listing Rewards program enables NFT collectors and traders to earn LOOKS tokens just by listing NFTs for sale on LooksRare.

Traders receive points for their eligible listings every 10 minutes, which are converted into LOOKS once daily.

 

Users will receive Listing Reward points every 10 minutes for all items that they have listed for sale on LooksRare that meet these criteria:

  • The listed NFT is from one of the top 15 eligible collections ranked by rolling 24 hour volume (ranking updates every 10 minutes)

  • The listing is an active and executable order

  • The listing price is within 1.4x of the global collection floor price (the lowest floor price on either OpenSea or LooksRare)

  • Listings must be live for a minimum of 10 minutes in order to start accumulating points

  • Listings must not expire within 1 hour of each snapshot in order to qualify for points for that snapshot

In addition to the below criteria for individual listings, the collections must meet these criteria to be eligible for listing rewards.

  • Total item count of 100,000 or fewer

  • Greater than 0% royalties

  • Conform to ERC-721 token standard. Unfortunately, ERC-1155s and other standards introduce too many complications in the calculation methodology.

Platform fee

LOOKS token stakers earn 100% of the trading fees (WETH) on LooksRare. Trading fee is 2%.

LOOKS block rewards

When you stake LOOKS, you also earn additional LOOKS on top of the trading fee rewards received in WETH. Staked LOOKS tokens are auto-compounded for users that wish to just leave their LOOKS tokens staked.

 

LOOKS staking rewards will be earned over 4 phases with differing reward rates, based on a schedule of 6,500 Ethereum blocks per day.

 

Phase A

  • Length: 195,000 blocks (30 days)

  • LOOKS Per Block: 189.00 LOOKS

  • LOOKS Per Day: 1,228,500.00

Phase B

  • 585,000 blocks (90 days)

  • 89.775 LOOKS

  • 583,537.50

Phase C

  • 1,560,000 blocks (240 days)

  • 35.4375 LOOKS

  • 230,343.75

Phase D

  • 2,346,250 blocks (361 days)

  • 18.90 LOOKS

  • 122,850.00

Auto-Compounding Rewards

Pending rewards are often required to be manually staked by users to increase their share of staked tokens. However this wastes both gas and opportunity cost. As such, LooksRare has enabled auto-compounding for all users that stake LOOKS. This means that LOOKS rewards received from the staked LOOKS balance are automatically re-staked into the pool (or compounded) to increase the amount of LOOKS staked.

When users unstake their LOOKS tokens, the amount of compounded rewards and the original staked amount will be withdrawn to the user’s wallet.

Main Features
Collection Offers

A Collection Offer allows users to place the same WETH offer on every item within a collection with just a single click. This means that anyone holding an item of the collection is able to accept your offer. If a seller accepts your collection offer, the offer will be automatically withdrawn from all other items in the collection.

You can think of this similar to a limit order when trading cryptocurrency on an exchange.

Bulk Listing 

Users are able to list multiple NFTs at once using the Bulk Listing feature on LooksRare.

Conditional Listings

A conditional listing is a kind of custom order type, with a condition. In this case, the condition is “One-Cancels-the-Other (OCO)”: if one listing is executed (the item is sold), the other listing is canceled.

Let’s say you’ve got two Goblins. You want to sell one, but you don’t care which one. Using a conditional listing, you can put both Goblins up for sale (making it more likely that someone will buy one), but only one of them can be sold.

As soon as Goblin A is bought on LooksRare, Goblin B’s listing will be instantly canceled, and it’ll stay safe and sound in your wallet! 

NOTE: Conditional listing behavior only applies to sales made via LooksRare’s smart contracts (either directly, or via aggregators like Gem/Genie). If you list one or more of the items in your conditional listing on another marketplace, they could potentially all be bought.

 

Chat on Blockscan

Buyers can use Blockscan Chat to contact sellers or holders of NFTs. Click on an NFT to see the address where the NFT is held and click on the conversation icon to chat with the owners.

Native Rarity Rankings 

LooksRare provides native rarity rankings for users to view directly on the collection page and their own account pages. Users no longer need to download plugins or connect to other websites to view rarity.

Website: https://bit.ly/LooksRareLearnAndEarn

Documents: https://docs.looksrare.org/zh-Hans/about/welcome-to-looksrare

GitHub:  https://app.gitbook.com/s/hsMp0T6XbETuxV5ZpuOF/looksrare-zhong-wen-she-qu/looksrare-shi-she-qu-zhi-shang-de-nft-shi-chang