Detailed Breakdown of spNFT Functionality

Creation and Customization

Creating spNFTs involves staking assets in Scribe’s liquidity pools and defining the parameters for the staked positions. Users can customize their spNFTs by choosing the asset pair, setting the price range for concentrated liquidity, and specifying the staking duration. This process allows for a high degree of personalization, enabling users to tailor their investments to their specific strategies.

Transfer and Trade

Once created, spNFTs can be transferred or traded on secondary markets. Users can list their spNFTs for sale, purchase additional spNFTs, or trade with other users. Scribe integrates with various NFT marketplaces to facilitate seamless trading, ensuring liquidity and accessibility for all users. This feature provides an added layer of flexibility, allowing users to manage their investments dynamically.

Earning and Rewards Distribution

spNFT holders earn a portion of the trading fees generated by the liquidity pool in which their assets are staked. These earnings are distributed proportionally based on the share of the liquidity provided. Additionally, spNFT holders can earn rewards through Scribe’s yield farming programs. These rewards are periodically distributed and can be claimed or reinvested into new or existing spNFTs, further compounding the returns.