General
1.What is ShoeFy about?
ShoeFy is an innovative decentralized platform that combines Non-Fungible Token (NFT) and Fungible Tokens (FT). Unlike other NFT projects, ShoeFy's NFTs are empowered by FT $SHOE tokens to boost the potential of higher passive income by staking and farming rewards.
2. When and where will ShoeFy sNFTs be minted?
The launching of sNFT will be announced through ShoeFy social media channels and users can mint either in ShoeFy platform or alternatively in the third party minting platform, connecting via web3 wallet. The minting date and time will be announced soon.
3. How is sNFT different from $SHOE ?
ShoeFy has two tokens, sNFTs which is a Shoe collectible and $SHOE token which is the native token in the ShoeFy platform. There are 10,000 unique sNFTs which are programmatically generated on blockchain with different degrees/attributes of rarity in their characteristics. It is stored in the ERC-721 token standard on Ethereum blockchain ecosystem. $SHOE is the native token of ShoeFy platform. It is an ERC-20 standard token which has a maximum supply of 100,000,000 SHOE. The $SHOE token will be bridged to other chains like BSC, Matic, etc
4. What is a shoebeast?
Shoe collectors are called shoebeasts.
5.How is ShoeFy different from other NFT projects?
ShoeFy is a combination of NFT and FT ecosystem. sNFTs can be minted and resold in the secondary market where the first buyer will earn royalties every time the sNFT is being traded for a certain period of time. sNFTs can also be used for staking and farming in the ShoeFy platform. Either way, the user earns passive income.
Users will not have to wait for a buyer to bid for their sNFT like in the traditional NFT marketplaces. ShoeFy solves this lack of liquidity issues with its user-friendly NFT swap site built into the platform. This swapping function is backed by the $SHOE/sNFT AMM liquidity pool in the platform.
ShoeFy has a limited number of LP boosters called bNFTs that can be minted in the platform. Holding these LP boosters will amplify the LP rewards, therefore, optimizing the yield from LP pools.
ShoeFy would later on have its own ShoeVerse where ShoeBeasts can explore the digital world with other ShoeBeasts. There will be in-game minting and trading activities and also play-to-earn ShoeFy games like shoe contests and shoe battles. ShoeFy will also be integrated into third party metaverse ecosystems like Decentraland and Sandbox.
ShoeFy platform will gradually expand to other fashion brand items, socks, pants, t-shirts, accessories and more in future. ShoeFy aims to become a global brand of merchandise by collaborating with other popular brands.
6. What do we need to mint sNFTs?
sNFTs can be minted with Eth or $SHOE. If the users mints with $SHOE token, they would get a 10 % discount from the minting price.
6. What is the utility of $SHOE tokens?
$SHOE token will be utilized as the native token to add Utility to NFT via staking, farming and LP which generates the passive income.
$SHOE token will be used for the Governance, DAO.
$SHOE will also be used as the entry ticket to the ShoeVerse (metaverse of shoefy platform) and at the later stage for incentivizing in the play to earn game such as shoe battles, shoe contests and shoe fashion show.
$SHOE will be used as the SWAP fee for the NFT SWAP.
$SHOE token is required to be paid for minting/farming new shoe NFT in the shoeFy platform.
7. What are the value propositions and incentives?
Staked sNFT/ $SHOE Holders – Earn profit-sharing from a Portion of transaction Fees + NFT Minting Fees
The first buyer sells sNFT in the secondary market and receives royalties every time the sNFT is sold again
Own Unique sNFTs and get access to exclusive House of rare, epic and legendary NFTs
ShoeFy Governance – Receive Additional $SHOE Incentives
Liquidity Provider – Earn LP rewards
$SHOE token and sNFT can then be used as liquidity in the Shoefy Vault to farm Unique sNFTs
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