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ShoeFy is a decentralized platform that combines Non-Fungible Tokens (NFT) and Fungible Tokens (FT). It utilizes DeFi tools to maximize returns and includes farming and staking for passive income. ShoeFy has two tokens: $SHOE (ERC-20) and sNFTs (ERC-721). Each sNFT is a unique digital shoe, and users can stake sNFTs to earn $SHOE tokens. ShoeFy also offers NFT farming where users can stake $SHOE tokens to farm different categories of sNFTs. The project aims to solve NFT liquidity issues by introducing an ERC-20/ERC-721 liquidity providing pair. The team behind ShoeFy consists of blockchain venture capitalists, NFT developers, and marketing experts from Europe, Canada, South Korea, and Thailand. ShoeFy has a long-term vision to innovate in gaming, collectibles, and the metaverse, eventually partnering with reputable fashion brands.
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What is ShoeFy and how does it utilize NFTs and DeFi tools?
ShoeFy is an innovative decentralized platform that combines Non-Fungible Tokens (NFT) and Fungible Tokens (FT). It is a futuristic NFT project that utilizes DeFi tools to optimize returns. ShoeFy can utilize the NFTs potential by including both farming and staking to generate passive income.
ShoeFy will have two tokens namely, $SHOE(ERC-20), the native Fungible Token and sNFTs (ERC-721) which are randomly generated on-chain. Each NFT is an algorithmically programmed unique digital shoe on the platform. The user can stake their sNFTs on the platform to earn passive income in the form of $SHOE tokens. ShoeFy also features the NFT farming feature on the ShoeFy platform where users can stake their $SHOE tokens to farm the different categories of sNFTs.
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