LOOKS

1. Project introduction

LooksRare exchange is of a hybrid off-chain/on-chain system where taker orders match maker orders to execute trades for NFTs. It is a non-custodial exchange where orders require approval of the tokens (fungible and non-fungible) being transferred in a trade.Off-chain orders ("Maker orders") are EIP-712 signatures that are stored off-chain. A trade consists of a bilateral exchange of a ERC-20 token against a NFT token (e.g., ERC-721, ERC-1155) with a specific amount at a specific price. On each trade, trading fees can exist as (1) protocol fee and/or (2) royalty fee.LOOKS is the native token of LooksRare with total supply 1 Billion. As part of LooksRare’s initial launch, it’s distributing 120,000,000 LOOKS tokens (12% of total supply) to the NFT community.At the same time, if a NFT collection is marked as "Earning Rewards", it means that when NFTs within this collection are traded between users (excluding private sales), these trades will generate rewards for users on LooksRare. In addition, protocol fees go to LOOKS stakers and royalty fees are collected by creators (at each trade).

2. Team introduction

Co-Founder: Zodd

Twitter: https://twitter.com/ZoddLooksRare

Design Lead: Slug

Twitter: https://twitter.com/LOOKSLUG

Graphic Designer: Ermac

Github: https://github.com/ermaclooksrare

3. Application and distribution

Total supply: 1 billion

Token application:

(1) Used for protocol governance;

(2) Used as transaction and staking rewards.

Token distribution:

Community: 75% (12% for Airdrop, 18.9% for Staking Rewards, 44.1% for Volume Rewards)

Ecosystem Dev. (Treasury): 10%

Founding Team: 10%

Strategic Sale: 3.3%

Liquidity Mgmt.: 1.7%