Marketplace Utility

Role of VOID and veVOID in the Distant Marketplace

Distant NFT marketplace takes a 2% fee from every transaction on fixed price NFT sales and 3% on Auction house sales of which 100% is used to buyback $VOID tokens in the open market. 70% of this fee goes to the treasury to be used in funding VOID staking rewards and veVOID holders from successful proposals. 30% goes to the Protocol reserve which will be used for future developments or pool incentivization.

Holders of the veVOID token gets to enjoy ranging discounts based on the amount of tokens held and this fee discount ranges all up to 50% of the actual fee. veVOID holders can also make proposals to:

  • balance shift the distribution mechanism of generated fees

  • toggle fee changes that benefits the ecosystem without affecting participants

  • require updates to features inherent to the Distant Marketplace

A two-way benefit for users would be holding their veVOID and participating in Governance decisions and staking their VOID tokens to maximize value generation from the Distant Marketplace

There are future plans to integrate the $VOID token to be used as a payment method in the NFT marketplace It will be limited as an option to be used or accepted by the Seller and might expand into the buyer's preferences too in the future

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