LooksRare is a decentralized, community-focused NFT marketplace. The protocol was launched on the Ethereum blockchain using an ERC-20 utility token—LOOKS—in January 2022. The LooksRare platform facilitates the trading of non-fungible tokens, with a strong focus on incentivizing user participation. The LOOKS token serves several functions within the LooksRare ecosystem: * Users who commit their LOOKS receive 100% of the trading fees as Protocol Rewards. * Every non-private trade generates a Trading Reward, providing a LOOKS rebate for the fees paid on trades conducted on LooksRare (currently 0.5%, collected in ETH). * It enables participation in exclusive drops and other token-gated applications.

LOOKS has a maximum supply of 1,000,000,000 tokens, with over 90% currently part of the circulating supply. Upon launch, 75% of the maximum supply was allocated to the community as follows: * 12% was distributed through an airdrop. * 18.9% was designated for individuals committed to LOOKS. * 44.1% was reserved for volume rewards to incentivize engagement on the platform. Based on its emission schedule, LOOKS is expected to reach its maximum supply two years from its initial release. The platform imposes a 0.5% transaction fee in WETH on all NFT sales. Every 6,500 Ethereum blocks (approximately every 24 hours), the fees collected are redistributed linearly to LOOKS committers over the subsequent 6,500 blocks.

LooksRare is a decentralized marketplace specializing in the trading of non-fungible tokens (NFTs) and operates on the Ethereum blockchain. It takes a community-first approach, directly rewarding its users for their engagement and participation within the ecosystem. The platform was launched in January 2022 with the objective of providing an alternative to existing NFT marketplaces, focusing on user rewards and decentralization. The native cryptocurrency of LooksRare, LOOKS, is an ERC-20 token that plays a vital role within the platform. It enables several key functions, including: - Rewarding users with 100% of the trading fees collected by the platform when they stake their LOOKS tokens. - Providing a trading reward system where users receive a rebate in LOOKS tokens for the fees paid on their transactions, currently set at a rate of 0.5% of the trade value, paid in Ethereum. - Allowing token holders to access exclusive NFT drops and participate in token-gated events or applications. The initiative was founded by individuals using the pseudonyms Guts and Zodd, who aimed to create a more decentralized and user-centric alternative to the prevailing NFT marketplaces.

LooksRare is a decentralized NFT marketplace that utilizes its native utility token, LOOKS, to promote a community-driven trading environment. Developed on the Ethereum blockchain, LooksRare sets itself apart by rewarding users for engaging in activities such as trading, collecting, and creating NFTs. The LOOKS token serves multiple purposes within this ecosystem, offering users various opportunities to engage with and gain benefits from the platform. A key functionality of the LOOKS token is enabling users to earn 100% of trading fees as Protocol Rewards. This is possible when users stake their LOOKS tokens on the platform. Furthermore, every non-private transaction conducted on LooksRare generates a Trading Reward, providing a LOOKS rebate that corresponds to a portion of the transaction fee, currently set at 0.5% and collected in WETH. This mechanism not only incentivizes usage but also ensures that the benefits of trading on LooksRare are directly returned to its users. Additionally, the LOOKS token offers access to exclusive drops and other token-gated applications, enhancing the user experience by allowing for unique acquisitions and interactions within the ecosystem. This aspect of the LOOKS token utility underscores the platform's dedication to rewarding active participation and fostering a dynamic community of NFT enthusiasts. The strategic distribution of LOOKS tokens, with a significant portion allocated for the community, aligns with LooksRare's vision of a decentralized and user-centric marketplace. The emission schedule of LOOKS, structured to reach its maximum supply within two years of inception, along with the redistribution of transaction fees to LOOKS stakers, exemplifies the platform's innovative approach to establishing sustainable rewards for its users.

LooksRare has achieved several significant milestones since its inception, reflecting its growth and development in the blockchain and NFT marketplace. The platform, which emphasizes a community-first approach, has made notable progress in enhancing its infrastructure and offerings to users. A foundational development for LooksRare was the creation of their Typescript SDK, which facilitates the development of applications that interact with the LooksRare ecosystem. This SDK is crucial for developers looking to build on or integrate with the platform, showcasing LooksRare's commitment to fostering a developer-friendly environment. In addition to the SDK, LooksRare has developed token and staking contracts, alongside shared Solidity libraries. These contracts are essential for the functionality of the LOOKS token within the ecosystem, enabling users to stake their tokens and participate in the platform's governance. The shared Solidity libraries provide reusable code that can help streamline smart contract development. The platform has also introduced a template for Solidity smart contracts and a subgraph, further supporting developers in creating and deploying decentralized applications (dApps) on LooksRare. These tools indicate LooksRare's dedication to innovation and support for the broader developer community. Moreover, LooksRare's active GitHub repositories, such as contracts-aggregator and contracts-raffle, highlight the platform's ongoing efforts to enhance its offerings and engage with the open-source community. These repositories serve as a resource for developers and contribute to the transparency and collaborative nature of the project. On the user-facing side, LooksRare has made significant progress in establishing itself as a major player in the NFT marketplace. The platform's launch on the Ethereum blockchain with an ERC-20 utility token, LOOKS, marked a pivotal moment. This launch introduced a decentralized, community-first marketplace for trading NFTs and digital collectibles, distinguishing LooksRare from other marketplaces by rewarding users for their participation. The LOOKS token plays a central role in the ecosystem, offering various utilities such as earning 100% of trading fees as protocol rewards, receiving trading rewards in the form of LOOKS rebates, and participating in exclusive drops and token-gated applications. This tokenomics model incentivizes active participation and investment in the platform, aligning the interests of users with the long-term success of LooksRare.

LooksRare, a decentralized NFT marketplace, was founded by two individuals using the pseudonyms Guts and Zodd. This platform, introduced to the Ethereum blockchain in January 2022, stands out for its community-first approach and distinctive model of rewarding active participants in its ecosystem. The founders sought to provide an alternative to existing NFT marketplaces by ensuring that benefits and rewards are directly passed on to community members. This is reflected in the platform's structure, where 100% of trading fees are returned to users who stake their LOOKS tokens, the native ERC-20 utility token of LooksRare. These tokens not only support the reward system but also enable holders to participate in exclusive events and applications within the ecosystem. For additional details, please refer to Eulerpool.