What You Should Know About NFT FUN
Featured with uniqueness, convenience in verification and non-reproducibility, NFT is naturally suitable for collection and trading in various fields, including collectibles, artworks, sports, bills and notes, and intellectual property. Recently, the issuance and trading of NFT has been booming, which has aroused extensive public concern after it was known by persons outside the blockchain industry.
To help investors take the exciting opportunity brought by the long-term growth of the NFT market and realize the value circulation of it, we launched Fun Protocol.
Fun Protocol：DeFi & Gamefi & DAO Protocol Prospering with NFT Market
Committed to building a parallel world that keeps prospering along with the NFT market, we capture the value of DeFi through FUN Protocol. In the parallel world, there’s an exclusive circulated token system, a network that constantly stimulates NFT creation, and a governance ecosystem represented by NFT. In a word, FUN plays an interesting and important role in the whole NFT world.
What’s the main components of FUN Protocol?
FUN Protocol includes FUN Money、FUN NFT and FUN DAO.
Fun Money
FUN Money (FUN) is the first step to build FUN Protocol. Based on Binance Smart Chain (BSC), FUN is a kind of synthetic asset pegged to the total NFT market cap.
What is Fun Money?
Fun Money (FUN) is a token pegged to the total NFT market cap at a ratio of 1 : 30,000,000,000. If the total NFT market cap is $30 Billion, FUN will be pegged to $1.00. If the total NFT market cap is $150 Billion, FUN will be pegged to $5.00. FUN allows investors to speculate on the NFT field with one token.
How it works
Elastic Algorithm
FUN is built on an algorithm stable token protocol which programmatically expands/contracts token supply to achieve target price equilibrium. FUN’s target price is 30 Billionth the total NFT market capitalization: NFT marketcap/（3*10¹⁰）. When FUN market price = NFT market cap/ (3*10¹⁰), FUN is at equilibrium. When this equilibrium is broken, token supply will be adjusted.
Rebase
Supply expansions/contractions are called rebases. Rebases occur when FUN ≠ NFT market cap/（3*10¹⁰）. When FUN > NFT market cap/（3*10¹⁰）, expansion rebase occurs; When FUN < NFT market cap*/（3*10¹⁰）, contraction rebase occurs. Expansion creates new supply, supply exceeding demand, which drives the FUN price down from its target; Contraction decreases supply, demand exceeding supply, which drives the FUN price up to its target.
NFT Index
As a one-stop trading instrument, FUN allows investors to speculate on the entire NFT field simultaneously, rather than just one token or selected portfolios This should be valuable for investors interested in NFT field but don’t know which assets they should invest.
FUN Roadmap
Start-up Stage: Origin of Species
Everything can be NFT. FUN Protocol has launched FUN Money — an exponential algorithms stable token pegged to NFT segments.
Acceleration Phase: Renaissance
Broadening the horizon of the known world. FUN Protocol is aware of the differences between different thoughts and ideas. The world is open to all voices. FUN Protocol will increase the use scenarios of FUN Money in the NFT field, and the NFT Blind Boxes, NFT Mining and Trading are on the way.
Leap Period: Industrial Revolution
The decentralized governance idea of DAO has brought great changes to community infrastructure and enable the domination over the world. FUN Protocol will add impetus to the value creation with FUN as the core, thus attracting and stimulating self-developed NFT creation to promote the market prosperity.
