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CoinW Research - LooksRare (LOOKS) Project Analysis

Published on: 2022/01/10 10:35｜Last Update: 2025/01/01 15:39

LooksRare (LOOKS) Project Analysis

1. Research Comment

This is an nft market project with very high-quality products. In addition to the traditional trading functions of nft markets, it also released its own governance tokens, so it has multiple governance methods, such as single currency staking, liquidity mining, and nft trading mining.

2. Recent Flashpoint

Token airdrop

3.Token Introduction

LooksRare is a community-first NFT market with rewards for traders, collectors and creators for their participation.

4. Token Roles

1) Staking

2) Providing liquidity

3) Governance

5. Token Allocation

Total: 1 billion

Airdrops 12%

Strategic sales 3%

Liquidity management 1.7%

Trading rewards 44.1%

Staking rewards 18.9%

Founding team 10%

6. Project Vision

LOOKS is the native token of LooksRare. 100% of the transaction fee is earned by LOOKS token holders, so the more people trade in the market, the more WETH will be earned. Unlike Opensea, which allocates incomes to itself, looksrare distributes all incomes to token holders to empower tokens. Opensea symbolizes capital, and looksrare represents the community. The relationship between the two is similar to uniswap and sushiswap. Moreover, looksrare innovatively adopts transaction mining method. It can be expected that in the future, the transaction volume of the nft trading market of looksrare will blow out, exceeding opensea. Then looksrare will get compared to opensea by community users.