🖼️Eclipse NFTs

Summary

Eclipse pad brings innovation to the forefront. This section is dedicated to the various utility NFT integrations that improve the experience as well as the functionality of the Eclipse Launchpad.

By partnering with and in the background; leveraging the NFT utility created by the Loop Finance DeFi NFT marketplace, users will be able to make their airdrop NFTs, vested positions, as well as their staking positions tradeable on the secondary market. This opens up many possible utilities and the ability for users to potentially purchase discounted vested positions on a secondary market.

Vested NFT positions

After participating in an IDO launch for a project, at the token generation event, users will receive a vesting contract for the distribution of the IDO tokens over a pre-determined period of time. This vesting contract will have the option to be converted into an NFT position.

Projects launching an IDO will have the option to use a generic Eclipse art NFT, or the option to submit their own art for the conversion of these positions.

Once converted into an NFT position, this NFT will hold the vesting of the tokens over the determined period of time. To collect the tokens, the NFT must then be staked. With the tokens being distributed and claimable daily. When the NFT is unstaked, the distribution will then be paused, this NFT can then be transferred or sold on a partner secondary NFT marketplace such as the Loop DeFi marketplace. When one of these NFTs is purchased on a secondary marketplace, it still holds the remaining tokens, it can then be staked, resuming the token distribution. To claim tokens, the user will claim directly under the dashboard section on the Eclipse platform. A more in-depth guide can be found under: NFT Staking and Claiming These NFTs will have royalties when sold, with the royalties going back to the protocol and buybacks. More details and specifics can be found under: Fees & Royalties and Deflationary Model They will also be subjected to potential NFT trading fees on the Marketplace on which they are traded.

This opens up so many new possibilities for users, users who do not want to wait out the vesting period then have the option to list their position for a discount on a marketplace. And users who do not mind holding longer and claiming from a vested position can access a discounted position on a secondary marketplace.

This is all done peer-to-peer.

A powerful potential byproduct of this is that IDO participants more eager to sell can exit their positions at a discount, whereas more long-term investors can purchase discounted vested positions on a secondary market.

Moving the ownership of these tokens over to higher quality and more committed users. This is without any liquid tokens hitting the market.

Tradeable staking positions

Time-locked staking positions are an essential way of rewarding loyal users where a stronger benefit is gained from staking for lengthier time periods. You can read more about these staking mechanisms at Eclipse Pad here: Staking. But with this model, some dilemmas do arise for users who still want to retain some liquidity in their position staking position, let's say in cases of emergency. Thanks to NFT staking positions, Eclipse makes it possible for users to trade out of their long-term staking positions through a secondary marketplace. Next to staking positions on the dashboard will come the option to "convert staking position into an NFT", this will convert this staking position into an NFT with the same parameters as the original staking position. Users will be able to select how many tokens to include from their staking position in this NFT mint, to allow these positions to be fractionalised. There will be a minimum token quantity to avoid abuse.

Users will be able to list and trade this NFT on a secondary NFT marketplace. A potential buyer will then have access to purchasing this position at a discount and potentially a long-term staking position with all its benefits, but with less time remaining on the clock. When listed on a marketplace, the yield will still accrue to the NFT. These NFTs will be subject to royalty fees (Fees & Royalties) when trading, as well as any potential trading fees on the secondary marketplace.

Example: Jack has a $3000 $ECLIP staking position time-locked for 12 months. Due to the lock length, he receives a higher amount of Cosmic essence, as well as a higher yield rate.

An emergency comes up 6 months into the staking period, and Jack is in need of some of these funds. He can convert this staking position into an NFT with an expiry in 6 months. This NFT can then be listed for sale on a secondary marketplace.

By purchasing this NFT from the secondary, a prospective buyer can now gain access to the benefits of a 12-month staking position, with only a 6-month commitment remaining. And can also resell it himself in the future.

NFT airdrops

NFT airdrops follow a very similar mechanism as the one laid out in the above section on vesting NFT positions.

Rather than vesting positions, it applies to the potential for projects to offer and distribute airdrops through NFT positions. These airdrops can have vesting schedules, tokens are distributed over a pre-set period of time.

This opens up the potential for users to list and sell their airdrop NFTs through a secondary marketplace without liquid tokens being dumped onto the market. Users who want to sell their airdrops early at a discount can do so through the NFT, and users who want discount vested tokens can purchase them on the market, similar to an OTC deal. The airdrop NFT can then change hands from less long-term focused users to those who are in it for the longer term, which is also advantageous as the liquid tokens are distributed from the NFT and hit the market. They could be in the hands of higher-quality holders.

Projects using the Eclipse Pad airdrop will have the option to use a generic Eclipse art NFT, or the option to submit their own art for these airdrop NFTs.

More NFT utilities to follow... (coming soon)

There are many more NFT integrations and utilities planned for Eclipse Pad, more will be added as these models are built out.