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Hadeswap Releases ABC Staking

Hadeswap brings staking to NFT collection ABC. As a decentralized NFT, it has no team behind. This leaves it to community projects, like Hadeswap, to bring value to the collection.

January 18, 2023 by Illustrious

Community-driven non-fungible token (NFT) exchange Hadeswap just released staking for the NFT collection Abracadabra (ABC). Stakers would be rewarded with the exchange's token, HADES.

For utility, the token can be used in governance and staking, as well as in auctions of Hades NFTs. 90% of the profit from protocol-owned liquidity would be used to buy back and burn HADES, resulting in a deflationary token.

Launched by HGE.SOL, ABC is a decentralized NFT. It is immutable, has creative commons zero (relinquished digital rights), and has no team or company behind it. The community is incentivized to create products surrounding the ABC collection, rather than individual collections.

Hadeswap is an on-chain Automated Market Maker (AMM) for NFTs launched by some founders of ABC. By introducing NFTs to AMMs, HGE aims to improve NFT liquidity by giving users the same experience traders have while swapping on Uniswap. Those who provide liquidity would also receive yield from swapping fees.

When Hadeswap launched, it was said on Twitter that it plans to "highlight the role of ABC NFTs and make onboarding easy as 123."

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