The year 2021 is undoubtedly the year where Non-fungible-tokens(NFTs), which were considered obscure months ago, went truly mainstream.
In response to the rising popularity of NFTs, both creatives and firms as wide-ranging as retail, music, entertainment, consumer products, fashion, and more began exploring ways to engage with the world of NFTs. This led to some sellers building their own NFT marketplaces, while others opted to use a third-party platform. Third-party platforms were used since it is more feasible, as it can reduce upfront costs, offer access to a larger existing customer base, and provide valuable add-on services such as marketing, legal and technical support.
OpenSea being the first decentralized Non-Fungible Token(NFT) marketplace gained traction due to the growth of NFTs. However, it has a variety of problems such as system downtime, centralized management model, etc. The challenges faced by Opensea users led to the creation of HelixMeta, which aims at delivering a better NFT ecosystem for users and creatives
Introduction
HelixMeta is a decentralized community NFT marketplace that actively rewards traders, collectors, and creators for participating on the platform. It is a completely decentralized NFT marketplace, build on the Ethereum Smart Contract and fueled by $HLM token.
The HelixMeta NFT Marketplace brings together artists, creators, and crypto enthusiasts on a single platform to create and trade NFTs.
Tokenomics
HLM is the native token of HelixMeta NFT marketplace and the total supply of HLM is 1billion.
HelixMeta reward systems
i) Staking :
$HLM holders can stake their tokens to earn a passive yield. When you stake HLM, you also earn additional HLM aside from the trading fee rewards which you will receive in WETH. Staked HLM tokens are auto-compounded for users who leave their HLM tokens staked.
The staking rewards will be earned in 4 phases with differing reward rates, based on a schedule of 6,500 Ethereum blocks per day.
ii) Liquidity Provider :
To incentivize market liquidity, $HLM will be distributed to liquidity providers based on a formula that rewards participation in the market.
Users who do not want full exposure to the $HLM token and instead opt to mitigate possible volatility associated with the token by pairing their exposure to Ethereum(ETH) may find this option attractive.
ii) Trading Rewards :
Trading rewards is a core part of the HelixMeta token economy as we seek to become the most liquid marketplace for NFTs in the world. We incentivize NFT swaps on our platform by offering rewards to buyers of eligible collections. This reward system enables buyers to earn more $HLM periodically (within a 24- hour interval).
HelixMeta unique Features
i ) Community- first Marketplace :
HelixMeta is a decentralized and community-focused NFT marketplace. This makes it superior to OpenSea in the blockchain community.
ii) Reward System
From staking to trading, HelixMeta has a well-planned reward platform to attract users. The staking rewards go beyond 600% APR, rewarding users with wETH(wrapped eth) and $HLM tokens simultaneously.
iii) Fee Distribution
HLM token stakers earn 50% of the trading fees on the HelixMeta platform.
iv) Payment
Creators receive instant royalty payments when the sale is made eliminating the issue of delay in payment.
Conclusion
HelixMeta works on the principle of blockchain technology and aims to be the leading decentralized marketplace for all NFT needs. It is a project worth keeping an eye on as the team is preparing a lot of incredible things for its community.
