❓FAQ
Last updated
Last updated
In short, Sweepr is an NFT liquidity flywheel fueled by competitive governance battles between various NFT communities. Sweepr acquires floor price NFTs selected by bi-weekly Sweepr Acquisition Proposals (SAP) where four NFT communities go head to head utilizing thier xSWEEPR as voting power to elect one victorious collection. The winning collection receives a treasury sweep and is deployed as NFT/ETH liquidity on NFT-Fi platforms such as NFTX, SudoSwap, and Floor Protocol.
No. While governance plays a huge part in the Sweepr ecosystem, we are not a DAO.
$SWEEPR is an erc-20 token whose central function is designed to simultaneously fund the Sweepr treasury and filter incentives to our users through token tax derived from DEX trading volume.
xSWEEPR is minted when users stake their SWEEPR/ETH LP token. xSWEEPR grants users access to revenue share, SWEEPR liquidity mining incentives, and allows them voting power in SAP and The Floornament.
xSWEEPR holders gain exposure to both $SWEEPR liquidity mining rewards and revenue share derived from token tax in the form of ETH. The latter assumes that a user has been holding an xSWEEPR position beyond the 7 day grace period. Additionally, xSWEEPR holders are able to vote in SAP and The Floornament which potentially gives them leverage to bolster both the floor price and liquidity of an NFT collection that may also hold.
The Sweepr team carefully selects and curates each collection that include in any given SAP using metrics such as YTD floor price, volume, unique holders, and community activity.
