Q: What is a Shard?
A: A shard is an ERC20 token that represents fractional ownership of an NFT asset. Shard owners can enjoy the asset's price appreciation and collect dividends.
Q: Which NFTs can be fragmented into Shards?
A: All NFTs that meet the ERC721 standard can be fragmented into shards.
Q: How is the subscription for Shards distributed?
A: During the Subscription Period, the subscribers pledge a certain amount of cryptos in the contract. When the total pledge amount reaches the Minimum Subscription Amount set by the original owner at the end of the Subscription Period, the Shards will be distributed according to the proportion of cryptos staked by each subscriber.
Q: What do you do with Shards?
A: A shard owner can directly trade shards in ShardingDAO's marketplace or hold them for dividends and price appreciation if applicable. Also, a shard owner can choose to add liquidity to any AMM-enabled DEX to obtain liquidity provider tokens and then pledge these LP tokens in ShardingDAO Farms to receive $SHD liquidity mining rewards.
Q: How to acquire NFT in ShardingDAO?
A: Users need to obtain 15% of the total number of Shards corresponding to NFT. If they hold less than 15% of the total number of Shards, they can purchase them in DEX. After owning 15% of the total number of Shards, users can apply for tender offer. Users who hold Shards can vote. After the voting is passed, the tender offer applicant can obtain the ownership of NFT.
Q: Do I have to pay for publishing Shard?
A: After successful Shard subscription, the protocol will collect 5% of the Shard and Subscribing token (Equivalent to 5% of the Shard) and send them into the secondary market to add liquidity.
Q: How to update pool ranking?
A: Users can select any pool that is not in the top 10 (including those which are not staked by themselves) to initiate the transaction of updating the ranking.