LookRare Updated Listing Rewards For Pending Orders

NFT trading market, LookRare, has announced that it will update its pending order incentive mechanism on October 3. Only verified NFT chains are eligible for the pending order offer. The move is designed to increase rewards for users, while increasing liquidity for popular NFT chains.

The NFT trading market that competes with Opensea, LookRare, has announced that it will update its pending order offer mechanism at 9:00 am (UTC) on October 3, 2022. After that, only the NFT chain has been approved verification is eligible for the pending order offer.

Verification criteria include cumulative historical trading volume of 250 ETH or more on LookRare or 500 ETH in the entire NFT market, as well as other conditions such as legitimacy.

The move is designed to increase rewards for active users with real pending orders, while providing more efficient liquidity to popular NFT chains.

LookRare is a community-first NFT marketplace that actively rewards traders, collectors, and creators for participating. Lookrare users also have to be mindful of how risky a project is to launch without a verified smart contract and without an open, public GitHub repository.

Although Opensea is still the most popular name when it comes to the NFT market. Meanwhile, LookRare has a few important problems to overcome, but on the other hand the project also has an extremely important advantage that has worked many times in this industry: the incredible power of tokenomics.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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