Infinity NFTs (ERC-721i) Released

Infinity NFTs (ERC-721i) Released

Infinity NFTs (ERC-721i) Released

Introducing ERC721i

I’m thrilled to let you know about the launch of our brand-new Infinity NFTs (ERC721i) smart contract, which can pre-mint one million NFTs for under $2! I will discuss the advantages and use cases for this kind of smart contract in this blog article, as well as how Launchifi users can benefit from it.

The Basics

Only the existence of a particular token ID and the fact that it has an owner count as the “essence” of an NFT. The rest is just a side note. With pre-minting, we can predetermine these values, negating the requirement to keep the same initial owner for each of the million IDs or to write an initial range of consecutive IDs to the blockchain.

 

Reduced Cost of Minting

There are a few ways to reduce the cost of minting NFTs, but it can be costly. When batch-minting, the author creates a large number of NFTs in advance and pays the associated costs. Although this can reduce expenses during minting, sometimes the costs are transferred to transfers. Lazy minting is when the creator defines the NFTs but does not mint them all at once, necessitating the buyer to mint the NFT at the moment of purchase and incurring the high minting gas costs. Simply put, this approach transfers the costs to the buyer.

Contrarily, pre-minting occurs when the contract automatically issues all NFTs to the employer/contract owner in advance. We can pre-mint a trillion NFTs using Launchifi’s Infinity NFT smart contract for less than half the price of pre-minting a single regular NFT. This approach does not also include cost shifting. As most of the OpenZeppelin ERC721 contracts are still inherited, we really stray from them very little and support all of the extensions that OZ offers.

 

How It Works

We aim to write as little as possible in terms of technical specifics when it comes to writing state to the blockchain. We want to make the most use of the read functions possible because of this. We can assume that each of those tokens belongs to a “original account” that we’ll refer to as “Account A.” This first account may be the contract deployer or owner. No extensive writing is required to make our points. We can change the read functions instead to only return specified values.

In order to accomplish this, we must update the ERC721Enumerable contract in order to remove the double-accounting around “allTokens” and utilize sequential token IDs. We are pre-minting, therefore we are already familiar with all tokens. We will also modify the base ERC721 contract’s ownerOf and _exists functionalities.

 

Conclusion

We were able to pre-mint 1 million NFTs using Launchifi’s Infinity NFT smart contract for about $0.50 per instead of the price of a single regular NFT! These smart contracts have obvious advantages. It is economical and effective, making it a great choice for both consumers and developers. Users of Launchifi can generate several NFTs with Infinity without paying exorbitant fees. We are eager to continue innovating and provide the NFT community’s community with solutions, and we can’t wait to see what our users will do with this new sort of smart contract.

Join us and begin investigating the Infinity NFT smart contract’s potential right away!

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ERC-1155 NFT Staking Released

ERC-1155 NFT Staking Released

ERC-1155 NFT Staking Released

ERC-1155 Staking Released

ERC-1155 staking is a brand-new smart contract type that was just made available by Launchifi, a decentralized platform for starting new Ethereum projects. In this blog post, we’ll talk about the ERC-1155 standard, its applications, and the advantages it provides. The benefits of using ERC-1155 staking and the advantages it provides Launchifi users will next be covered in more detail.

What is the ERC-1155 Standard?

A single transaction can effectively transmit both fungible and non-fungible tokens thanks to the ERC-1155 token standard. ERC-20 for fungible tokens and ERC-721 for non-fungible tokens were the two main token standards prior to ERC-1155. Nevertheless, because they couldn’t be combined into a single smart contract, carrying out many transactions was both time- and money-consuming. This issue is resolved by ERC-1155, which combines the two token specifications and enables the transfer of multiple types of token at once.

Blockchain gaming is one of the main applications for ERC-1155, where numerous objects, such as fungible and non-fungible tokens, can be held in a single smart contract. This means that any number of goods can be supplied to one or more receivers in a single transaction. This use is simply the tip of the iceberg for ERC-1155, which can also be used for tokenizing physical assets, ticketing systems, and other things.

Advantages

Currently, users can stake ERC-1155 tokens and receive rewards thanks to Launchifi’s release of the ERC-1155 staking smart contract type. Users who stake their tokens for a specified amount of time to support the network and gain rewards do so. Users of Launchifi can now stake both fungible and non-fungible tokens in a single transaction thanks to the ERC-1155 staking smart contract type, improving efficiency and lowering costs.

Moreover, ERC-1155 staking provides Launchifi users with a number of advantages, such as improved liquidity and price stability. Users can contribute to price stability by staking their tokens by lowering the token’s circulating supply, which may increase demand. Staking can also encourage holders of tokens to keep them for extended periods of time, which can assist lower volatility and boost liquidity.

Conclusion

In summary, the ERC-1155 Ethereum token standard is adaptable and enables the transfer of different token kinds in a single transaction. Users of Launchifi’s ERC-1155 staking smart contract type will gain from enhanced liquidity, price stability, and more effective staking, among other advantages. As developers continue to investigate ERC-1155’s potential, we may anticipate seeing more cutting-edge use cases for it in the future.

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ERC-20 Token Staking Released

ERC-20 Token Staking Released

ERC-20 Token Staking Released

What is ERC-20

In the Ethereum blockchain, the ERC-20 standard is now the most commonly utilized token standard. It is employed to produce and maintain digital assets that comply with a given set of regulations. Because ERC-20 tokens are fungible, they can be exchanged for other tokens of the same kind and value. Initial Coin Offerings (ICO), building decentralized exchanges (DEX), and serving as a means of exchange for other blockchain-based apps are just a few examples of the many use cases for them.

Proof-of-Stake

Ethereum users can now stake their ETH to win rewards thanks to Proof of Stake (PoS), which was recently introduced. In order to participate in the Ethereum network as validators, users must stake a certain amount of ETH, often 32 ETH, and activate validator software. New blocks are proposed and validated by validators, who receive rewards for correctly carrying out their tasks. As a result, staking gives Ethereum users a new chance to make money while strengthening the security of the network.

ERC-20 Staking Released

The ERC-20 staking contract type was just made available by Launchifi, a blockchain-based platform that offers access to complex smart contracts and one-click deployments. Users are able to stake their ERC-20 tokens and receive compensation in the form of the same tokens that they have staked thanks to the ERC-20 staking contract. Token holders now have another way to benefit financially from their investment in the network’s security thanks to this functionality.

Advantages

The advantages of ERC-20 staking are numerous. First off, staking encourages holders to keep their tokens for longer, which might help keep the price of the token stable. Second, by lowering the token’s available quantity, staking can serve to boost its liquidity. Thirdly, when users try to gain incentives by staking their tokens, ERC-20 staking may assist boost the token’s demand. The security of the network behind the token can also be improved through ERC-20 staking, which can boost investor confidence.

Conclusion

Launchifi is giving its users a new method to profit financially while enhancing the security of the underlying network by enabling ERC-20 staking. By encouraging users to hold onto their tokens for longer, this feature can serve to boost the token’s liquidity and demand. Ultimately, ERC-20 staking is a great addition to the Ethereum ecosystem because it gives users a new chance to profit financially while assisting in the network’s security.

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Liquidity Pool Tokens Released

Liquidity Pool Tokens Released

Liquidity Pool Tokens Released

Release Notes

Launchifi has made the Liquidity Pool Token (LP) smart contract type available, which has great promise for customers of DeFi. I’m eager to describe LP tokens, their applications, and how Launchifi users may profit from them as a part of the Launchifi team.

What is a Liquidity Pool?

Liquidity is essentially the ease with which an asset can be traded without having an impact on its price. Smaller DeFi projects can have substantial liquidity challenges because there may only be one exchange where tokens are traded or there may not be enough buyers or sellers to fill orders. The liquidity pool approach offers a remedy for this. Users who deposit these tokens into a liquidity pool to facilitate trading are referred to as liquidity providers, and a liquidity pool typically contains two assets that users can trade between.

What are LP Tokens?

LP tokens are created and handed to liquidity providers as a receipt after depositing a pair of tokens in a liquidity pool. Users can redeem their initial contribution plus any interest received for these tokens, each of which represents a portion of the pool. Other uses for LP tokens include yield farm compounding interest, obtaining cryptocurrency loans, and transferring ownership of staked liquidity. Yet, it’s crucial to remember that after relinquishing custody of their LP tokens, consumers do not actually possess the related liquidity.

By contributing liquidity to a DeFi DApp like Uniswap or PancakeSwap, one can earn LP tokens. The majority of LP tokens in the DeFi ecosystem can be moved between wallets, changing ownership in the process. Users should always double-check with the service provider for the liquidity pool because this isn’t always the case.

Advantages

The transferability of LP tokens is one of their key advantages. By transferring ownership of the related liquidity, they can be utilized to transfer value. LP tokens may also be pledged as security for a loan. They offer ownership of the underlying asset, making them an excellent example of how collateral can be used.

What This Means For Launchifi Users

The LP smart contract type, which will make it simple for our users to generate, deploy, and manage LP tokens, is something that Launchifi is thrilled to introduce. The LP smart contract type has a number of advantages, including ready-made and tested code, automatic liquidity provisioning and distribution, and simple implementation to different blockchain networks.

Conclusion

In conclusion, LP tokens have a variety of uses besides releasing offered liquidity, such as value transfers and serving as collateral for loans. With the introduction of the LP smart contract type by Launchifi, our customers will have an easier time creating, deploying, and managing LP tokens, allowing them to get more value out of their special assets.

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