Coming from a DeFi native background, I was skeptical about NFTs, especially “collectible arts”…until I discovered loot . Witnessing the uprise of loot and its ecosystem, I’m feeling emotions I haven’t felt since the summer of 2020.Enter NFTMiningRewards, a liquidity mining reward contract using NFTs as collaterals: https://github.com/yuming0x/NFTMiningRewards

It’s modified on top of the well-known StakingRewards https://etherscan.io/address/0x7FBa4B8Dc5E7616e59622806932DBea72537A56b#code contract, with changes for staking/withdrawing NFT, and added interface for calculating a custom score for an NFT’s token ID. The score of each NFT token ID is then used as the variant for reward distribution. The interface is flexible enough for any custom scoring logic.An obvious more optimal approach is to use loots https://github.com/bpierre/loot-rarity traits to score different bags.

Tech Implementation

An example implementation is created for Loot which assigns the score of a bag with the uint256 representation of its string.

NFTs has taken CT by storm, you can’t make it through 3 tweets without seeing something related to NFTs. Comin from a DeFi native background, I was skeptical about NFTs, especially “collectible arts”…until I discovered <a href="https://www.lootproject.com/" rel="noopener ugc nofollow" dir="ltr">loot</a>. Witnessing the uprise of loot and its ecosystem, I’m feeling emotions I haven’t felt since the summer of 2020. And while NFTs in general are still in their infancy, it is without a doubt they will soon meet DeFi and spark a new era that deserves its own name.With that in mind, I’ve created NFTMiningRewards, a liquidity mining reward contract using NFTs as collaterals: <a href="https://github.com/yuming0x/NFTMiningRewards" rel="noopener ugc nofollow" dir="ltr">https://github.com/yuming0x/NFTMiningRewards</a>It’s modified on top of the well-known [StakingRewards](<a href="https://etherscan.io/address/0x7FBa4B8Dc5E7616e59622806932DBea72537A56b#code" rel="noopener ugc nofollow" dir="ltr">https://etherscan.io/address/0x7FBa4B8Dc5E7616e59622806932DBea72537A56b#code</a>) contract, with changes for staking/withdrawing NFT, and added interface for calculating a custom score for an NFT’s token ID. The score of each NFT token ID is then used as the variant for reward distribution. The interface is flexible enough for any custom scoring logic. An example implementation is created for Loot which assigns the score of a bag with the uint256 representation of its string. An obvious more optimal approach is to use loots [rarity](<a href="https://github.com/bpierre/loot-rarity" rel="noopener ugc nofollow" dir="ltr">https://github.com/bpierre/loot-rarity</a>) traits to score different bags.Looking forwards to seeing more sparks between NFT and DeFi.

NFTs has taken CT by storm, you can’t make it through 3 tweets without seeing something related to NFTs. Comin from a DeFi native background, I was skeptical about NFTs, especially “collectible…

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NFTs has taken CT by storm, you can’t make it through 3 tweets without seeing something related to NFTs. Comin from a DeFi native background, I was skeptical about NFTs, especially “collectible arts”…until I discovered <a href="https://www.lootproject.com/">loot </a>. Witnessing the uprise of loot and its ecosystem, I’m feeling emotions I haven’t felt since the summer of 2020. And while NFTs in general are still in their infancy, it is without a doubt they will soon meet DeFi and spark a new era that deserves its own name.

With that in min d, I’ve created NFTMiningRewards , a liquidity mining reward contract using NFTs as collaterals: <a href="https://github.com/yuming0x/NFTMiningRewards">https://github.com/yuming0x/NFTMiningRewards </a>

It’s modified on top of the well-known [StakingRewards](<a href="https://etherscan.io/address/0x7FBa4B8Dc5E7616e59622806932DBea72537A56b#code">https://etherscan.io/address/0x7FBa4B8Dc5E7616e59622806932DBea72537A56b#code </a>) contract, with changes for staking/withdrawing NFT, and added interface for calculating a custom score for an NFT’s token ID. The score of each NFT token ID is then used as the variant for reward distribution. The interface is flexible enough for any custom scoring logic. An example implementation is created for Loot which assigns the score of a bag with the uint256 representation of its string. An obvious more optimal approach is to use loots [rarity](<a href="https://github.com/bpierre/loot-rarity">https://github.com/bpierre/loot-rarity </a>) traits to score different bags.

Looking forwards to seeing more sparks between NFT and DeFi.

Yield Farming with Loot & NFTs. NFTs has taken CT by storm, you can’t… | by yuming0x | Sep, 2021 | Medium

Tech Implementation

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