The platform token on the NFTmart network is NMT, a functional token that leverage the value of the entire network.In NFTmart network, NMT token mainly has the following functions:
(1) Used for staking, maintaining the NPOS consensus of the NFTmart network, and ensuring the security and operation of the network.
(2) Used to provide guarantee for selected nodes.
(3) Used to create and use NFT.
(4) Used to purchase various services in the ecology.
(5) Used to pay network transaction fees (Gas).
(6) Various elections and voting for on-chain governance mechanisms.
The blockchain consensus of the NFTmart network refers to Polkadot and adopts the NPOS (Nominated Proof of Stake) consensus mechanism. The nominee pledges NMT to participate in the election of reliable validators. The validator is responsible for packaging and validating blocks and ensuring finality. Both the validator and the nominator will receive a reward proportional to their respective equity, and the validator can set the sharing method.
NFTmart is a trading platform. Users need to pay or pledge NMT for products and guarantee products. At the same time, various service fees in the ecology can also be paid using NMT tokens.
Similar to other blockchain projects, the transaction fee for using the NFTmart network is also paid by NMT.
NFTmart will eventually turn to community autonomy, and the entire NFTmart governance will use NMT tokens for on-chain parliamentary elections and voting, and proposals for voting.
