Welcome to the future of NFT trading on Luxy! As we continue to evolve in the dynamic Rollux ecosystem, after the $LUXY token migration to its home, we’re excited to introduce the Vault, the new upgraded Tiered Discount system designed to enhance your trading experience on Luxy!
This guide will walk you through everything you need to know about the Vault, from locking your $LUXY tokens to enjoying reduced trading fees across multiple blockchains.
What is it, exactly?
The Luxy Vault is an innovative system that allows $LUXY holders to lock their tokens on Rollux and receive discount tokens. These tokens can be minted on all networks supported by Luxy, offering you a seamless discount experience across Rollux, Syscoin, Ethereum, and Polygon.
How does it work?
Now let’s get into the details and learn how to use it, step by step!
Claiming your Discount Token on Rollux
- First of all, head over to Luxy’s Finance page.
- Connect your wallet: After connecting your Wallet, you’ll be able to view your available $LUXY tokens to lock.
- Claiming Discount Tokens: Click on “Claim” and select the desired discount tier. The amount of $LUXY to be locked will be displayed below the tier list.
Discount Tiers
The available discount tiers are based on the amount of $LUXY locked:
Tier 5: 250,000 $LUXY locked — 87.50% off fees 🤑
Tier 4: 125,000 $LUXY locked — 62.50% off fees
Tier 3: 50,000 $LUXY locked — 37.50% off fees
Tier 2: 25,000 $LUXY locked — 25.00% off fees
Tier 1: 10,000 $LUXY locked — 12.50% off fees
Tier 0: Zero $LUXY locked — No discounts (0.00% off) 🙁
- The Locking Process: When you click “Claim,” a two-fold process happens by (1) depositing $LUXY into the vault and (2) locking them. The deposit will trigger the minting process of a new discount token on the Rollux blockchain for you. The lock will allow you to mint discount tokens on all blockchains supported by Luxy. Keep on reading for a step-by-step guide on how to do this!
- Transaction Approvals: You will be required to approve the $LUXY token usage on your wallet and sign two transactions. Your $LUXY tokens will be securely locked in the Vault Smart Contract.
If you have any questions, please reach out to us on Discord to discuss!
- DONE! Once the process is complete, discounted fees will be applied to all your transactions on Rollux within Luxy. Enjoy Discounted Fees!
Please note that, in case the Locking tokens operation ends in an error or it gets rejected in your wallet, you will still be able to enjoy your discounts on Rollux, but you’ll be unable to mint new Discount Tokens on the other Supported Chains. If this occurs, a new option will open for you, allowing you to Lock your Rollux Discount tokens whenever you prefer!
Minting Discount Tokens on other supported chains
If you also want to enjoy the discounts on the other blockchains supported by Luxy, simply click on “Mint”, and:
- Select the desired network and discount tier, then click “Mint”
(if you want to mint the discount tokens for multiple networks, you can simply repeat this process and select a different network) - Sign Transactions: Switch to the desired network on your wallet and sign the minting transaction. Note that gas costs will apply!
- DONE! The discount will be applied to your next transaction on the new network!
Retrieving Your Locked $LUXY Tokens
To retrieve your locked tokens, start by burning the discount tokens minted on all networks by clicking on “Burn”
On the next screen, choose the network and new tier for burning. If you would like to retrieve all tokens, downgrade to Tier 0.
After choosing, just switch networks and sign the burning transaction! Done!
And that’s it!
The Luxy Vault came to enhance your NFT trading experience! By locking your $LUXY tokens, you not only secure valuable discounts but also contribute to the vibrant ecosystem of Luxy and Rollux! Embrace this opportunity and start trading smarter on Luxy today!
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