Flooring Protocol aims to list fractional μTokens representing prominent NFT collections on top centralized crypto exchanges such as Binance. For example, users could directly buy and sell μAzuki, μBAYC, μPudgy and other fractional tokens on these exchanges.
This integration with trusted mainstream platforms would enable easy onboarding into premier NFT projects in just a few clicks. New users could gain exposure simply by purchasing μTokens on familiar and secure centralized exchange sites they already understand and use.
By bridging fractional NFT ownership to popular centralized venues, Flooring Protocol can bypass many of the friction points that currently impede newcomers. Trading along-side conventional crypto assets streamlines entering the NFT ecosystem for millions globally, then truly capturing the value of social impact NFTs have on the space.
NFT Fragmentation
Flooring Protocol provides two methods to fragment NFTs into 1 million μTokens - the Vault and Safeboxes.
The Vault is a straightforward public option. By depositing NFTs into the Vault, users relinquish ownership but gain immediate liquidity through freely tradable μTokens. The Vault method is convenient and accessible.
For those wishing to maintain ownership, Flooring Protocol offers Safeboxes. This exclusive method requires staking $FLC tokens first. Users can then deposit NFTs into a personal Safebox, receiving a unique Safebox Key verifying ownership in addition to 1 million μTokens.
µ-Tokens
Interact with NFTs in a revolutionary new way through μ-Tokens. These ERC-20 tokens represent fractional shares of an NFT from a specific collection.
When an Azuki is deposited into Flooring Protocol, you receive 1,000,000 µ-Tokens corresponding to that specific NFT collection. µAzuki tokens represent 1/1,000,000 of an NFT in Azuki collection.
Tokenomics
The $FLC token is the native currency that powers the Flooring Protocol ecosystem. It unlocks and fuels customized platform utilities for all users.
Enabling Safeboxes
By staking $FLC in their Flooring Account, users can create personalized Safeboxes to reserve NFTs for custom time periods. Higher $FLC stakes allow longer max durations and greater benefits.
Unlocking VIP Perks
Staking $FLC also determines a user's VIP status tier. Higher tiers unlock exclusive perks tailored to strategies from swift cash-outs to long-term stability and collector retention.
Incentivizing Liquidity Providers
The protocol rewards liquidity providers who add to $FLC and μToken exchange pools with $FLC mining rewards proportional to their share of the pool. These incentives robust liquidity vital for ecosystem growth.
Managing the Treasury Reserve
The protocol treasury accumulates a portion of all $FLC expenditures like fees and bids. These reserves help fund ongoing development, provide collateral, and maintain $FLC value stability. The treasury may also provide Eco-system contributor grants to worthy contributors and projects.
Maintaining Protocol Stability
Random Vault redemptions normally have no fees. But if reserves dip too low, a redemption fees in $FLC applies. This disincentivizes excessive withdrawals during periods of volatility.
