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Oct 27

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LIST TO EARN MECHANISM ON BABYLONS NFT MARKETPLACE

> This month, we have enabled the List-To-Earn mechanism on our multi-chain
> marketplace. With this new development, we hope to provide our users with a
> much more liquid trading environment as well as another way to earn passive
> income in our ecosystem. In this article, we will explain how it works!



With the List-to-Earn mechanism, we will be incentivizing greater liquidity on
our marketplace, which means a more streamlined trading experience for all our
users, as well as a way to generate passive income just by being a part of our
community.

The mechanism is very simple; for every NFT that you have listed on our
marketplace, you will be earning $BABI tokens.


WHAT SHOULD YOU KNOW ABOUT THE LIST-TO-EARN MECHANISM?

The total weekly reward is capped at 227,500 $BABI tokens per week.
Trade-to-Earn rewards will be calculated first, and all remaining tokens will be
transferred to the List-to-Earn pool. They will then be distributed via our
claim portal each week, based on a point system.


HOW DO YOU EARN POINTS?

Users will be earning points that will be tallied and reset at the end of each
week. The points accrued are calculated using three variables;

 * The total trade volume of the NFT collection — snapshots are taken hourly.
 * Total time an NFT has been listed on Babylons marketplace — points are earned
   at the start of each hour.
 * The asking price for the NFT compared to the floor price of the collection —
   the closer your listing is to the floor price, the more points you will be
   earning.

Formula :

(Points earned by the user) / (Total points earned in the List-to-Earn system) x
(Remaining $BABI tokens that are not distributed with the Trade-to-Earn
mechanism)


RELEVANT PARAMETERS:

1- Collection Score

The volume of the listed collections will be given importance. You can see the
points that will be given according to rank for the volume created below. NFTs
from collections outside the top 50 in volume ranking will be generating 1
point.

Collection with the highest volume = 100 pts

Collection with the second highest volume = 98 pts

Collection with the third highest volume = 96 pts

Collection with the fourth highest volume = 94 pts

Collection with the fiftieth highest volume = 2 pts

All other collections = 1 pt.

2- Floor Price Proximity Multiplier

The closer your listing is to the floor price of the collection, the higher your
multiplier will be. This is to ensure greater liquidity in our marketplace.

FP < listing price ≤ 1.1FP = 10 pts

1.1 FP < listing price ≤ 1.2FP = 8 pts

1.2 FP < listing price ≤ 1.3FP = 5 pts

1.3 FP < listing price ≤1.4FP = 3 pts

1.4 FP < listing price ≤ 1.5FP = 2 pts

Example

Consider John. He has listed an NFT for 3 hours in the collection with the
fourth-highest volume. He listed his NFT at 1.25 times the floor price.

This means John will be earning (3 x 94 x 5= 1410) points. Assume that this
week, 50,000 points were collected in total.

John will be eligible to earn (1410/50000= 2.82%) of the $BABI in the
List-to-Earn pool.

Eligibility

On the other hand, there are some conditions that make you not eligible for
$BABI rewards.

If you list your NFT with a price more than 1.5x higher than its floor price,
you won’t be rewarded $BABI tokens. Check the floor price on Babylons NFT
marketplace for reference. Naturally, in cases where the floor price decreases,
your NFT listing may go above the 1.5x threshold, at which point it will stop
accruing points.

The system includes ERC-721 and ERC-1155 tokens. However, you can only be
rewarded for one (1) NFT on ERC-1155 collections as ‘duplicate’ NFTs will not be
eligible for rewards. This is caused by the protocol itself assigning the same
token ID to the NFTs.

Some cases about the eligibility of List-to-Earn points:

 * You listed your NFT at 8:00 AM and canceled it at 8:10 AM (Not eligible)
 * You listed your NFT at 8:00 AM and it was sold at 8:10 AM. (Eligible with 1
   hour worth of points)
 * You listed your NFT at 8:00 AM and it was sold at 11:10 AM. (Eligible with 3
   hours worth of points)
 * You listed your NFT at 8:00 AM and canceled your listing at 11:10 AM.
   (Eligible with 3 hours worth of points)

We always consider the integrity and protection of our community. In order to
fulfill this responsibility, wash traders will be prevented from earning $BABI
tokens. Babylons reserves the right not to distribute the tokens to the users
considered to be abusing the mechanism.

Stay tuned with Babylons for more!


YOU KNOW WHERE TO FIND US.

Website | Twitter | Telegram |Telegram Announcement| Medium | Discord |
Instagram | Youtube


ABOUT BABYLONS

Babylons is an ecosystem governed by a unique DAO model serving as a
community-governed NFT platform, a premiere blockchain gaming aggregator, a
cutting-edge launchpad, and the ultimate Web3.0 technology solutions provider
trusted by over 200 partners.

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Babylons is an ecosystem governed by a uniquely gamified DAO model serving as a
community-governed NFT Platform, a premiere blockchain gaming aggregator, a
cutting-edge launchpad and a web3 technology solutions provider powered by $BABI
token and trusted by over 200 partners.

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