NFTs on Moonswap: A New Way to Earn Passive Income?
Non-fungible tokens or NFTS are becoming a popular sector in the crypto community, allowing people to utilize them as different types of assets. NFTs can have attributes that are considered collectible, unique pieces of art, blockchain domains, items in games, etc. The list of possibilities for NFTS can be quite lengthy. Since NFTS are versatile in nature, they open the door for people to take advantage of great opportunities that platforms have to offer. Ethereum has been the favorited blockchain to host these NFTs, creating a market where users can buy and trade with one another.
As most Ethereum users painfully understand, the more popular the Ethereum network becomes, the higher the gas fees are. Gas fees can range from upwards to $80-$200+ especially when there is high activity on the network. This makes the barrier of entry difficult for new users as large portions of funds are spent on gas fees alone. Trading during high activity periods on Ethereum are undesirable to traders as the extra money spent on gas fees could be used to purchase additional NFTs or tokens. There is a solution that solves the headache of Ethereum gas fees completely while offering buying and trading of NFTS! MOONSWAP!!!! Moonswap is the first AMM DEX running on Ethereum Layer 2 bringing a high-speed and 0 GAS decentralized trading experience to its users.
Since Moonswap’s inception, traders have saved over $4.4 million in gas fees, providing additional funds for smarter investment trading. Moonswap offers several types of NFTs currently, one of which was airdropped to the 1024 voyagers that completed the genesis migration from Ethereum to the Conflux Network. The “Genesis NFT” was a free airdrop being the first collectable asset on Moonswaps NFT market. These NFTs could only be obtained through this airdrop and will never inflate in supply. The lowest price for a Genesis is around 4000 cMoon tokens which is equivalent to ~$600 USD at the time of writing. Holders of Genesis will have the opportunity to be rewarded with future tokens and NFT airdrops from Dapps that are built on the network. There have been airdrops to Genesis holders already, providing free CFX tokens (the native token on Conflux) and additional NFTs! These additional NFTs could be used for staking and earning tokens allowing holders to earn even more! Genesis will always play an important part in the Moonswap ecosystem and any trader would be lucky to have these in their portfolio.
The Conflux Network has two native tokens: CFX and FC. Traders think of these coins as ETH and BTC as the functions and tokenomics are similar in nature. Conflux released a staking method that allows users to stake FC on a 1:1 ratio for CFX. By doing this, you permanently burn FC tokens to earn APY in CFX tokens. By staking/burning 1000 FC tokens, a guardian NFT was given as a reward. As the price difference in FC-CFX increases, minting these NFTs will be more expensive. This gives traders a great store of value for their FC coins long term. Holders of Guardian NFTs speculate that these could have future use cases similar to Genesis where airdrops will be rewarded from the Conflux/Moonswap team. Other speculations revolve around the possibility of developers adding a function that allows staking of Guardian and Genesis NFTs in the future. This means that not only are these NFTS valuable, but they will also bring passive rewards to holders.
Being in the Defi/NFT space is a truly exciting time. We might be the first to the party, but you will not want to miss out on these great opportunities to earn rewards/tokens. Check out Moonswap and Conflux to learn more about who they are and how to get involved!
- Moonswap Discord: https://discord.gg/PjNQmEs8Y8
- Conflux Discord: https://discord.gg/yy2JDFPmR2
