ZKSea has launched new non-fungible token (NFT) mining rewards programs on Jan 28, 2022, and the event will last for 14 days. Established on top of the Zero-Knowledge proof platform ZKSpace, ZKSea utilizes Ethereum’s Layer 2 scalability technology ZK-proofs to mint, store, and trade NFTs.
The newly-added NFT mining features are Proof-of-Liquidity Mining and Proof-of-Transactions Mining. The Proof-of-Liquidity and Proof-of-Transactions will be introduced this week. Users who mint, buy, and sell will all be eligible for specific rewards. Proof-of-Liquidity Mining is designed to attract users to list their NFTs to increase the quantity of NFT works in the Layer 2 NFT market. Proof-of-Transactions Mining is aimed to subsidize the NFT transaction fees and encourage platform transactions.
NFT Proof-of-Liquidity Mining
NFT Market sellers will be eligible for regular rewards and additional bonuses based on the daily participation rate. Sellers can claim regular rewards after completing minting and listing on ZKSea. The regular rewards will be determined by the proportion of the daily listed quantities to the entire network. Once the transaction is successful, sellers can claim additional bonuses equivalent to 120% of the transaction fee in ZKS (trading volume*2.5%*120%).
The event will last for 14 days with 20,000 ZKS for primary rewards and a 100,000 ZKS cap for additional bonuses per day. Suppose 120% of the daily total transaction fee exceeds the cap of 100,000 ZKS. In that case, Additional bonuses will be calculated by the ratio of the completed transaction value of each address to the entire network. The total rewards cap for the Proof-of-Liquidity Mining event will be 1.68 million ZKS.
The main mining page will incorporate an NFT Proof-of-Liquidity Mining Card. The card will display Daily NFT PoL mining rewards (ZKS), NFTs Minted (24hrs), Amount (24hrs, $), and the “Connect Wallet” button.
The NFT Proof-of-Liquidity page will display mining rules, personal data, “Go to NFT Market” and “Connect Wallet” buttons.
NFT buyers will be eligible for rewards based on the daily gas fee paid for purchasing NFTs. Each transaction will rebate 200% of the gas fee, which means the buyer will be rewarded with ZKS equivalent to 20 USDT for buying one NFT.
The event will last for 14 days with a daily rewards cap of 100,000 ZKS. If the cap is met, the reward of each NFT transaction will be based on the cap of 100,000 ZKS divided by the total transaction quantities on that day. The total rewards cap for the Proof-of-Transaction Mining event will be 1.40 million ZKS.
The main mining page will incorporate an NFT Proof-of-Transactions Mining Card. The card will display Daily NFT PoT mining rewards (ZKS), Transactions (24hrs), Amount (24hrs, $), and the “Connect Wallet” button. The NFT Proof-of-Liquidity page will display mining rules, personal data, “Go to NFT Market” and “Connect Wallet” buttons.
ZKSea will launch more exciting NFT features for users to explore in the future. Please stay tuned!
The all-new ZKSpace platform consists of three main parts: ZKSwap, the innovative Layer 2 AMM DEX utilizing ZK-Rollups technology, payment service ZKSquare, and an NFT minting center and marketplace called ZKSea. With an all-new-look user interface, NFT support, unlimited token listing, smoother withdrawal, optimized efficiency, and multi-chain support, ZKSpace aims to implement EVM-compatible ZK-Rollups and bring the community more layer 2-based products soon.
Disclaimer: This is a paid post and should not be considered news/advice