NFT20 V0.1

What is NFT20?

NFT20 is a permissionless p2p protocol for tokenizing NFTs and enabling them to be traded in decentralized exchanges such as UniSwap. Anyone can create a pool for NFT contracts and obtain permissionless ERC20 token derivatives of their NFTs that can be transferred and traded on DEXs.

How does NFT20 help NFT holders?

If your NFT has a pool available, then you can instantly get 100 tokens, which gives you many options, such as:

1. Exchange the received token for another NFT in the pool.

2. Use tokens to bid for higher quality NFTs in auctions.

3. If there is sufficient liquidity, it can be sold on Uniswap.

How does NFT20 help NFT project founders?

This will open up a new use case for your users, which will give confidence to new speculators in your project if you have sufficient liquidity on Uniwap.

Additionally, project owners will receive 5% of all auctions sold within NFT20.

You can tokenize, the first item on the exchange is the DokiDoki NFT, and more will start to join in the next few days.

Governance

All fees and certain decisions of this agreement will be handled by our DAO, which is managed by players of the VeryNifty Gallery NFT game .

How does voting and fee distribution work?

NFT20 will earn 5% from each tokenized NFT, 70% of which will go to a DAO controlled by VNFT holders based on current parameters.

**Details of voting rights for each VNFT will be released shortly after launch. **

The other 30% of fees will be used to incentivize MUSE-ETH liquidity providers.

Use with caution

NFT20 is still in beta, smart contracts have never been audited, please use it with caution and don't invest more than you can possibly lose.