Efinity Token

A round-up of Efinity&#39;s development activity for the last two weeks.The blockchain for NFTs, Efinity is a parachain built on the Polkadot ecosystem. It has NFT functions at the protocol level, allowing designers, game developers, artists, and others to supercharge their projects or apps at a low cost while remaining completely secure and scalable.Version: v3.0.0It’s now official: Fuel Tanks are live on Efinity, along with two other key pallets! We&#39;ll list them below.<h2 id="header-0">Fuel Tanks</h2>With fuel tanks, developers can subsidize transaction costs for their users/players. Developers can also specify how the fuel tanks may be used. Rules are flexible and can include:<ul><li>Whitelisting addresses/collections on the blockchain.</li><li>Requiring users to have a token to be subsidized by the Fuel Tank.</li><li>Permit-specific calls for rule sets on the blockchain.</li><li>Setting up budgets for users &amp; tanks.</li></ul>‍Fuel Tanks are not only live, they&#39;re constantly being added to with new features! Check out the <a href="https://www.youtube.com/watch?v&#61;6L0fDsDZ9mg" rel="noopener noreferrer nofollow">most recent Roadmap Update</a>, in which Witek Radomski talks about the different scenarios where Fuel Tanks make sense. Fuel Tanks save up to 75% on gas fees, making them useful in a variety of situations!<h2 id="header-1">Marketplace Pallet</h2>On Efinity, developers and blockchain users can trade their NFTs without the need for a front-end platform. With the marketplace pallet, you can buy, list, and sell tokens on the parachain marketplace directly on-chain. This pallet:<ul><li>Allows fixed-price listings.</li><li>Allows timed auctions.</li><li>Allows Royalties (more on this below)</li></ul>‍Royalties are worth discussing in more detail, and we will have a full post on this subject soon. Because this NFT functionality is built into the protocol layer, there is less smart contract risk and an account can receive a percentage of all sales of their tokens or collections.A protocol fee of 2% is charged for all sales on the marketplace and is sent to pallet pools (to be used for costs related to the parachain). A website/platform fee of 0.5% is also automatically deducted by the chain and donated to whichever website is facilitating the transaction.Other than that, the power of royalties is completely in the hands of the user — and creators won’t have to worry about collecting royalties if their NFTs are sold on a different marketplace.<h2 id="header-2">Multi-Token Pallet</h2>The MultiTokens Pallet allows blockchain users to interact with collections, tokens, and their metadata. It would be impossible to create a collection, NFTs, or even valid attributes for the collections and tokens you create without this pallet.<ul><li>Royalty support.</li><li>Batch transaction will execute all possible calls, even if some of them fail.</li></ul>‍<h2 id="header-3">TL;DR:</h2><ul><li>Fuel Tanks are live, and constantly being added to.</li><li>NFT trading is also live with our Marketplace Pallet.</li><li>Royalties are live and functional.</li></ul>‍That&#39;s all for this bi-weekly update. If you’re after updates to Enjin tools, you can find that <a href="https://enjin.io/blog?blogs-categories&#61;development-updates" rel="noopener noreferrer nofollow">here</a>. Stay tuned for more updates in two weeks!Read full article on Efinity Blog &#x1f449; https://efinity.io/blog/efinity-development-update-07-11-22Follow Efinity on Twitter &#x1f449; https://twitter.com/efinityio

Efinity Development Update (07/11/22)

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