$LUXY Token is useful throughout the Luxy Marketplace. Users will be able to gain access to NFT drops, Reduced fees, Buying/selling NFTs with/for $LUXY, Buying ad space, Voting on hot NFTs, Voting on proposals, and access to and for Whitelabel solutions.
The standard fee for buying and selling on $LUXY will be 2%. If users accept LUXY as payment, the fee will be reduced to 1%.
Holding the $LUXY token will enable users to reduce their fees whilst using the marketplace for buying or selling. $LUXY will have a tiered fee schedule with the standard fee starting at 2%. Users will also receive a discount when paying for Luxy Marketplace services with $LUXY, such as ad space.
Holding the $LUXY token will enable users to reduce their fees whilst using the marketplace for buying or selling. $LUXY will have a tiered fee schedule with the standard fee starting at 2%.
How to use the $LUXY fee discounts for holders
Make sure your $LUXY tokens are on the correct network before you can enjoy our tiered fee structure throughout the Luxy Marketplace!
By default, the $LUXY token is on the Polygon network, in this case, if you fit in any of the discount categories listed above as a $LUXY holder, the fee discount will be applied in all trades done on Polygon.
If you'd like to receive the fee discounts also on other chains supported by the Luxy Marketplace, such as Syscoin and Ethereum, the only action you'll have to take before is to bridge these $LUXY tokens to the desired network!