🎁Salvo's BlindBox Warehouse

Introducing Salvo's Blind Box Warehouse

Understanding the Blind Box Warehouse The Blind Box Warehouse stands as an innovative mechanism engineered by Salvo to bolster liquidity within the platform's NFT digital artwork domain. It allows users to concurrently contribute blind boxes and BTC, thereby acquiring Warehouse Shares (LP) to augment liquidity. Greater LP holdings correspond to amplified potential earnings, while presenting high-caliber artworks in a blind box could lead to an additional "High-Quality LP Reward."

Acquiring Blind Boxes Blind Box Creation: Users can package individual NFT digital artworks into blind boxes, ensuring singular inclusion of an NFT digital artwork. These artworks must possess a transaction history and Mint record on the Salvo platform while remaining unlisted.

Blind Box Trading: The platform facilitates the buying and selling of blind boxes through its "Trade Blind Box" function.

Understanding the Fee Reward System During blind box transactions, users are subject to a nominal supplementary fee (approximately 0.6% of the blind box transaction value), payable to Salvo. This fee, designated the "Fee Reward," is apportioned based on the proportion of Warehouse Shares (LP) owned by liquidity providers. Higher LP holdings entail greater Fee Rewards.

Total LP Evaluation Total LP signifies the cumulative sum of LP contributed by all platform users, a value subject to real-time fluctuations contingent upon the quantity of blind boxes and BTC provided.

Acquiring NFT Digital Artworks Project Minting: Users can procure digital artworks issued by project entities through the Minting feature on the Salvo platform. Marketplace Transactions: Users have the option to directly purchase NFT digital artworks from the Salvo marketplace.

Blind Box Production Expenses

Each creation of a blind box necessitates a payment of a production fee by the user.

The initial cost for manufacturing blind boxes is denoted in BTC, currently set at 0.00001 BTC per blind box (temporary). Once the platform successfully allocates the inaugural TTOP block reward, the blind box production cost transitions to TTOP, fixed at 648 TTOP per blind box (temporary). Actual blind box production expenses are contingent upon the exact amount remitted.

Generating Profits

Fee Rewards: Users earn "Fee Rewards" based on their Warehouse Shares (LP) by supplying blind boxes and the corresponding BTC, commensurate with the prevailing blind box unit price, to the Blind Box Warehouse.

High-Quality LP Reward: Furnishing a blind box containing superior-grade NFT artwork (i.e., exhibiting a low reinvestment rate) to the Blind Box Warehouse enables users to secure supplementary "High-Quality LP Rewards."

Understanding "My Shareholding (LP)"

User acquisition of Blind Box Warehouse shares (LP) ensues upon contribution of blind boxes and BTC. The volume of shares directly corresponds to the quantity of blind boxes and BTC provided.

Deciphering "My Shareholding Ratio"

This metric signifies an individual user's share of the Warehouse Shares (LP) concerning the total Blind Box Warehouse Share (LP). Elevated share percentages translate to heightened Fee Reward allocations.

Redeemable Blind Boxes

The redemption quotient of blind boxes for a user is predicated on the ratio of their contributed blind boxes to the current blind box inventory. Higher shares equate to an increased number of redeemable blind boxes.

Redeemable BTC

Redeemable BTC is determined by the proportion of a user's contributed BTC to the present BTC inventory. A larger share percentage facilitates a higher quantum of redeemable BTC.

Elucidating "High-Quality LP Rewards"

Users supplying high-caliber blind boxes receive additional "TTOP" (temporary) as "High-Quality LP Rewards" from the platform. These rewards are allocated to the initial and final liquidity providers of superior-quality artworks.

Understanding TTOP

TTOP represents a proprietary token issued by the Salvo platform. Its primary function is to reward liquidity providers who contribute high-caliber artworks within blind boxes.

Acquiring "High-Quality LP Rewards"

"High-Quality LP Rewards" are designated for the first and last liquidity providers of artworks demonstrating low reinvestment rates. These artworks, upon being drawn from the blind box, must neither have been sold nor directly destroyed. For instance, if User A contributes an artwork within a blind box and remains undrawn without any reinvestment, User A exclusively receives the high-quality LP reward for that specific artwork. However, if the same artwork is drawn by User C without reinvestment, the high-quality LP reward for that artwork is shared between Users A and C. This sharing pattern persists among subsequent liquidity providers and drawers.

Allocation of "High-Quality LP Rewards"

The allocation of high-quality LP rewards to the initial and final liquidity providers is determined by the ratio of the period an undrawn blind box remains un-reinvested, measured in blocks.

Variability in Redeemable Blind Boxes and BTC

The volume of redeemable blind boxes and BTC for users fluctuates based on their "Shareholding Ratio" concerning the current "Blind Box Inventory" and "BTC Inventory." For example, if the Blind Box Warehouse holds 100 blind boxes and 10 BTC, and User A's share ratio is 10%, they can redeem 10 blind boxes and 1 BTC. A change in warehouse inventory to 110 blind boxes and 11 BTC will correspondingly adjust User A's share ratio to 9.09%.

Calculation of Current Blind Box Unit Price

The current blind box unit price is derived from the ratio between the "Current Blind Box Inventory" and the "Current BTC Inventory."

Withdrawal of Earnings

Users retain the liberty to withdraw their accumulated "Fee Rewards" and "High-Quality LP Rewards" at their convenience. Due to on-chain mining fees, the actual received rewards may marginally differ from the displayed amounts. Users can track their withdrawn earnings within the "My Wallet" section provided by the platform.

Removing Shares

Users retain the prerogative to withdraw their shares at any given time, receiving proportional returns in the form of blind boxes and BTC. During share removal, users are prioritized to receive the blind boxes initially contributed. In cases where the inventory falls short, the remaining balance is randomly distributed from the warehouse. The blind boxes and BTC returned after the share removal can be meticulously tracked within the "My Wallet" section for transparency and record-keeping.

Understanding "Slippage" in Advanced Settings

"Slippage," featured in advanced settings, addresses the dynamic nature of blind box prices, subject to real-time fluctuations. These fluctuations may cause disparities between the actual buying or selling price and earlier quoted values. Users have the capability to set a predetermined slippage percentage, thereby exerting control over the quantity of blind boxes purchased or the selling price within a predefined range. When the quantity or price surpasses the pre-set percentage, the trading mechanism halts, thereby fortifying user interests by preventing transactions that deviate beyond the predetermined parameters. This functionality serves as a protective measure against unfavorable market fluctuations.