Turning NFTs into Tokens with Shardify

We are launching a new service that allows fractionalization of NFTs, enabling the purchase of small shares of any NFT. We are launching this service in beta mode with the Notcoin Pre-Market voucher.

A brief guide to using the service:

1. On the shardify.app website, select the Notcoin Pre-Market collection.
2. Add an NFT to the collection's storage.
3. As a result, the NFT will be stored on a smart contract, and you will receive the collection tokens - wNOT (wrapped NOT). For 1 NFT, you can issue 10M wNOT, and after minting Notcoin, you will be able to exchange wNOT for regular Notcoin at a 1:1 rate.
4. Right now, you can use wNOT like any other tokens — send them to friends, trade on DEX.
5. You can also "reassemble" an NFT back from tokens — to do this, select any NFT from the storage and press Unshardify.

Welcome to the future of accessible NFTs!

Important clarifications:

- This is a beta version of the service, with a 20% commission fee set for operations. The fee will be used to develop the service, and after exiting the beta, we will update the fee based on community consensus.
- We will be adding more popular collections soon. Creating a pool will cost about 100k $MRDN.
- Shardify was in development by the Meridian club since autumn 2023 as part of a community initiative. The task proved technically challenging, so we assembled a small team and brought in experts to check the security of the contracts, ultimately launching a new protocol at the intersection of DeFi & NFT!
- Join the club if you want to gain experience working on Web3 projects!

🤓 How wNOT works: detailed explanation

Well, what a time! We thought of launching the pool with NFTs from one of the most OG collections on TON, but whole wNOT activity kept us from it. Let’s see the results of the work we as community achieved:

* 3208 holders of wNOT
* 24129 NFT locked — 3.53% of all Notcoin Pre-market Bonds
* 548k 24h trading volume & > 561k TVL
* Numerous publication by our dear colleagues and frens
* Improved the life and experience of traders willing to make a bet and get their hands on Notcoin Pre-market NFT vouchers

We saw numerous questions and great explainer videos on how it works (btw, we have a quick guide for those who aren't sure how to swap their vouchers into wNOT). Let’s dive into details how this improvement works and how connection to Notcoin is made:

🟡 wNOT is a fungible token, which is issued once user locks Notcoin Pre-Market NFT voucher. This is not a free operation there is a ~20% commision fee as of the moment of publication.

🔄 The NFT is getting locked in a special contract and anyone who gets 10M wNOT can get any NFT from the pool back. With Shardify commission of course.

🤑 Now to the hardest part: pricing. In theory, price for anything depends on the amount of demand and supply. Number and quantity of sellers and buyers. In practice, with this setup the price of wNOT is connected with the price of 10M Notcoin Pre-market NFT vouchers through the smart contract. Whole supply of smart contract can be tracked here.

💎 When trading wNOT you need to pay attention to several technical factors, which can affect the price: once Notcoin minting starts, wNOT holders will first need to unwrap 10M wNOT back to NFT Voucher, then convert NFT Voucher to Notcoin with whatever mechanism which will be there. These steps will require additional gas cost, which market could include in wNOT price.

UPD: there will be some mechanism to convert wNOT to NOT!

🔬 So what wNOT really is — fungible token which price is correlated with the price of Notcoin Pre-market NFT. And price of Notcoin Pre-market voucher supposedly can be correlated with the price of Notcoin. So wNOT price reflects market appetite on Notcoin because users can effectively purchase or create (through NFT submission) any amount of wNOT and do with it whatever they want. And we think it is beautiful.

🙌 What’s next. We released a Telegram Mini App which allows you to fractionalize NFTs right here without leaving Telegram @shardify_bot. We plan to launch next collection and keep you posted about the progress wNOT makes.


Get wNOT at Shardify.
Purchase at STON.fi

What a day! Hope you’ve seen the post at Trade Notcoin channel.

We will collaborate with Notcoin team to provide an easy option to exchange wNOT directly to NOT after the minting starts.

This, along with the official task in Notcoin caused a huge load of traffic, so now we are about to get featured in Tonkeeper browser.

Thank you for you patience, keep fractionalizing NFTs, frens!

And just some statistics for those of you how are unaware of it:

* 126000 NFTs on Shardify, which means that 16% of NFTs supply are locked on Shardify
* With over $2M in liquidity available on Ston.fi, which means that users can trade thousands of dollars with the minimal price impact.
* Trading volume per each day of the last week was roughly $2M on average. This means that there is quite some traction happening there.

GM!

We are updating the infrastructure to withstand load during the wNOT -> NOT exchange commence.

Shardify.app website might be unavailable during this period.

Your funds are SAFU with smart contracts in the meantime.

UPD: updates and tests are finished, thank you for your patience!

50k subs👀

via @utpalam

May the force be with you!