Mintify - The NFT Orderbook is poised to become the dominant execution engine and fast interface for NFT trading with its proprietary NFT Orderbook technology, over 150,000 users, and modular ecosystem, Mintify is uniquely positioned to catalyze sophisticated trading strategies and enable tokenized economies across gaming, art, music, real-world assets, and beyond.
Since the inception of our XP-based reward program and between 3 SZNs that launched in September of 2023, Mintify has processed over $60,000,000 in trading volume across ETH, Blast, and Base. With the upcoming launch of Ordinals, we’re revamping XP for seamless composability across blockchain layers and diverse market dynamics.
Rewarding Risk-based Liquidity
Mintify’s Risk-Adjusted XP is the first liquidity and risk-based NFT-native rewards scheme transparently attributing incentive weights by user risk tolerance and real-time market dynamics to promote balanced liquidity across fragmented markets.
Risk-Adjusted XP is comprised of several modular formulas built to independently normalize different aspects of NFT liquidity. This perspective enables seamless comparison and automation of scaling incentives based on a collection’s unique demand for liquidity.
In short, the smaller the ratio of a collection’s market capitalization to its orderbook depth (bids and listings), the larger the rewards for users on the NFT Orderbook.
a) Market Cap $100k, Bid Liquidity $10k = High Multiplier
b) Market Cap $100k, Bid Liquidity $50k = Low Multiplier
Operating parallel to its modular NFT trading infrastructure, Risk-Adjusted XP allows everyday users to stay informed and make more educated trading decisions, while enabling power users to craft complex strategies through programmatic order execution and the Mintify Liquidity API (coming soon).
How It Works:
-
Position and Risk: The closer a user’s order to the floor price, and the less [buy/sell limit] order volume is between them and the floor price, the larger the order-associated multiplier.
-
Normalized Liquidity: The smaller a collection’s [normalized] orderbook volume * market capitalization, the larger the collection’s overall multipliers v.v.
Dynamically adjusting incentives by a user’s associated risk and the collection’s normalized liquidity enables Mintify to transparently produce real-time estimates of XP attribution directly within bid-spread modules, bidding and listing modals, trending tables and collection KPI bars, or anywhere a user may find environmental variables useful for making well-informed decisions.
Redesigned Bid & Listing Incentives
Bidding and listing mechanics have been completely redesigned to maximally benefit risk takers. Starting in SZN4, when you place an order, your XP attribution is dynamically adjusted based on:
-
Your order’s position within the Orderbook and proximity to the floor price
-
The time you placed the order relative to other orders at the same price
No more hiding behind bid and listing walls. No more bidding 1000 ETH 99% below the floor. Fair incentive attributions based on individual risk.
Cross-Chain Compatibility
XP 2.0 introduces a completely overhauled system for cross-chain compatibility, using a base XP rate of $100 per 1 XP, $1 per 0.01 XP minimum (USD denominations). To normalize the ‘progression value’ of historical XP with future, USD-denominated XP, all past XP will be normalized based on the Ethereum price at the time of the order.
SZN4 Launching 07/08
We are excited to bring all the above changes to SZN4 starting 07/08. This will be the last SZN before [redacted].
Mintify intends to open-source its Risk-Adjusted Incentives formulas. At that time, robust documentation will be published containing detailed mechanics and guidelines for user system-operation on the NFT Orderbook, and versatile methods for developers to deploy their own variation of Mintify’s Risk-Adjusted incentives suited for their unique market.
Mintify’s Risk-Adjusted XP operates on a multifaceted approach, where each individual component adheres to strict requirements based inherently on executable value. Learn more here.