Rating – 71%
April 11th, 2021
ShardingDAO is an NFT fragmentation protocol and a marketplace for the shards. 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.Any NFT owner can submit an NFT onto the ShardingDAO protocol, and the Protocol will fragment the NFT into shards. After the NFT is fragmented, there will be a Subscription Period while the original NFT owner sets a Minimum Subscription Amount. During this period, intended subscribers stake stable coins or any other tokens to subscribe for shards. At the end of the Subscription Period, the fragmentation becomes complete as long as the final subscription amount exceeds the Minimum Subscription Amount. And then, 90% of the shards will be
distributed to the subscribers on a pro-rata basis, while the original owner and the Protocol will each retain 5% of the total shards issued.
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.