April 21, 2022 — FaniTrade has decided to go ahead with a massive nonfungible token (NFT) airdrop, the first of its magnitude on the Solana network. The utilitarian NFTs will help users in different ways on the decentralized finance (DeFi) service FaniTrade platform, including discounts and VIP services.
An offered 1.7 Million NFTs
FaniTrade believes in universal access to cryptocurrencies and DeFi. While it is established that DeFi is a financial game-changer, it can be argued that onboarding is a different story. High entry barriers still keep a significant crypto population from entering it.
FaniTrade intends to change this by offering incentives to all 1.7 million active users on the Solana network by airdropping its FaniTrade booster NFTs. The NFTs come in 12 different variations, each offering a different advantage to users. Ranging from zero trading fees on swaps to discounts on prediction markets, each FaniTrade NFT makes it easier for new users to participate.
FaniPass: The rarest
Out of the different 1.7 million NFTs that will be airdropped to all active Solana wallets, the most highly coveted is the FaniPass: super-rare, with only 112 in existence.
While FaniPass is an extremely rare form, what it offers justifies a limited amount. While other FaniBooster NFTs offer one-time or limited period advantages on specific platform services, FaniPass is a complete ecosystem-wide discount and incentive package.
FaniPass holders will have zero fees on the FaniSwap and FaniVerse, the platform’s NFT marketplace; a 50% fee discount on FaniDex, its decentralized exchange; FaniTrax, its prediction market and FaniBox, developer tools to build decentralized applications. Other incentives include extra 10% rewards on staking and an additional 100% on affiliate payouts.
FaniPass holders also get VIP whitelisting and early access to beta services, including special airdrops.
FaniTrade phase two active
FaniTrade services are divided into three phases as they are rolled out, with each one offering more to users. FaniSwap, the instant decentralized token swap service, has been active since its launch.
Phase two was initiated recently, adding four more services to the platform:
- FaniTrax offers decentralized derivative trading and a prediction market where users can generate more than 75% of profits on bet amounts.
- FaniLotto offers a lottery on the blockchain. Users can buy tickets and try to rake in the prize.
- Faniliates offers lifetime commissions for inviting users who bring in new users.
- FaniBox offers tools and a library for developers to expand on the FaniTrade services.
Built to offer across-the-board DeFi services, FaniTrade is more than just another financial platform. Merging DeFi with gamification, networking and more, the platform is more than just the sum of its parts.
The massive NFT airdrop makes FaniTrade one of a kind due to the scale of its distribution. At the same time, FaniTrade also sets its place as offering a practical and innovative use of NFTs — an area largely considered to be the domain of digital art.
Additionally, in line with its policy of lowering entry barriers to the world of DeFi, FaniTrade has no requirements in terms of qualifications for receiving airdrops. All that a user requires is an active Solana private wallet.
To learn more, visit the FaniTrade website here.
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