Craft is the native utility token of the LCI marketplace that incentivizes holding. The CRAFT token works similarly to other cryptocurrencies and holds its intrinsic value to the success of the LCI platform. CRAFT is built on both the Ethereum network, and on the Binance Smart Chain, for maximum availability and compatibility.
Using CRAFT, the user and supplier will receive advantages and rewards, simply through holding. CRAFT is also deflationary, with a portion of the transaction fees being burned and removed from circulation.
Additionally, Liquid Craft will continue to provide opportunities that will bring added value to CRAFT tokens in other partnered ecosystems, through options like staking and utility on the Liquid Craft Marketplace.
The total number of CRAFT tokens ever minted will be 100,000,000.
Reflection Token: Holders are automatically rewarded with EVERY transaction using CRAFT
Deflationary Model: A portion of the tokens are burned with each transaction resulting in faster appreciation
Crafters selling their products in the LC marketplace will see reduced to eliminated fees while holding CRAFT
Users who conduct transactions with other cryptocurrencies like ETH or BNB, will see a 4.5% fee on buy transactions.
When selling an NFT on the platform, a 2% fee will be assessed on each sale. That 2% will be allocated to operating costs within the platform.
However, there will be advantages to suppliers who also hold CRAFT tokens, which is broken down into the following tiers:
8,000 CRAFT tokens, will incur a 1.5% fee
15,000 CRAFT tokens, will incur a 1% fee
20,000 CRAFT tokens, will incur a 0.2% fee
100,000 CRAFT tokens, will incur a 0% fee
When users are purchasing with CRAFT tokens the fee will be reduced to 3% and will be broken down as such:
Reflection: 0.5% allocated to reward holders
Deflation: 0.5% allocated for burning
Marketing: 1% allocated for operations and marketing
Crafter: 1% allocated to crafter (supplier) to offset storage costs
When minting an NFT, a crafter, and only the crafter, has the choice to implement a commission on all sales of the NF, from the time of minting until the time of harvest. Options will be customizable from 0%-50% and will be completely transparent to the NFT holder.
Before purchasing NFTs, buyers will review and accept harvest agreements created by crafters, which can include a harvesting fee. When minting an NFT a crafter has the choice to attach a harvesting fee. This will allow the crafter to cover bottling, shipping, and storage costs that were written in the NFT agreement. The supplier may choose to include a set harvest fee or to include a negotiable harvest fee, depending on the consumers distribution choice.