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New NFT Marketplace Golom Announces Genesis Period

The new platform is set to offer a flat trading fee of 0.5% on transactions.

New NFT Marketplace Golom Announces Genesis Period

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Recently launched NFT trading platform Golom has announced its genesis period from May 25 until Jun. 25, 2022, followed by an airdrop.

The new platform is set to offer a flat trading fee of 0.5% on transactions. 100% of the trading fees go to the stakers with a staking mechanism similar to Curve. It also allows users to decide what royalty they want to pay. For example, they can pay more royalties if they like the progress of the project.

Golom Is Decentralized at the Core

According to a Twitter announcement, Golom offers a permission-less base protocol to the Ethereum ecosystem that promotes decentralization. The order books are made publicly available on the Polygon blockchain. Unlike other gated exchanges which can stop trading anytime, on Golom protocol users can submit and fulfill orders without using any frontend as well. The protocol also allows other exchanges and frontends to plug into the common liquidity pool using a public indexer on polygon and start earning GOLOM rewards.

The first exchange to use Golom protocol is Golom.io which also offers analytical tools such as collection analysis, trait analysis, rarity check, and portfolio analysis among other features which are missing from key exchanges such as OpenSea. These tools will help traders analyse NFT collections and individual NFTs efficiently and help them make better choices.

One of the unique features of golom.io is portfolio analysis, users can just put their wallet address and see their portfolio NFTs and the wallet profit and losses (P&L) in a single click. Users with multiple cold and hot wallets can also link all their wallets to see their aggregated P&L.

Golom has a unique community rewards mechanism. There is no token sale or allocation to the founding team or to any VCs. Out of the total GOLOM tokens, 15% tokens will be airdropped to NFT  traders based on their historical volume, 5% will be given to initial traders during the genesis period and 10% will go to the project’s treasury while the remaining 70% tokens will be allocated to the users who trade or stake.

Besides inflationary GOLOM token rewards to stakers which will prevent them from being diluted by the emissions, stakers will also earn 100% of the platform fee. Traders and other exchanges (who will use Golom protocol) will earn a percentage of emissions once stakers are compensated.

Golom is founded by pseudonymous Lord of the Rings theme-based NFT traders and developers spread across the globe with a mission to provide a decentralized NFT Trading platform to the NFT community.

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