From April 2nd, we officially list LooksRare token (LOOKS) on the ONUS application. Right after LOOKS is added, users can perform the following features:
- Off-chain transactions: Send and receive LOOKS with other users in the ONUS network.
- Exchange: Swap from VNDC or USDT to LOOKS and vice versa.
LooksRare is an NFT exchange on Ethereum similar to Opensea, developed to be the NFT marketplace for the community. LooksRare collects a fee for selling NFTs, using this fee as a reward for stake participants. LooksRare is one of the first NFT exchanges to have an incentive mechanism through rewarding tokens for all participants in the project, such as creators, collectors, and traders.
Technically, the LooksRare development team designed the technical framework (contracts, databases, APIs, user interface, and search functionality) from the ground up to optimize scalability, speed, efficiency, and security. With a long-term development vision, LooksRare is also set up to ensure compatibility when deploying across scalable solutions in the future.
What is token LOOKS?
LOOKS is the main token in LooksRare’s product ecosystem. LOOKS operates on the Ethereum platform according to ERC20 standards and is used for the following purposes:
- The reward for NFT traders on the LooksRare platform.
- Staking rewards.
- Name: LooksRare token
- Ticker: LOOKS
- Platform: Ethereum
- Type: Governance, Utility
- Smart Contract: 0xf4d2888d29d722226fafa5d9b24f9164c092421e
- Standard: ERC20