NFT Repair Fee
Last updated
Last updated
OceanFi is committed to enhancing user engagement and value within our ecosystem. As so, OceanFi employs an NFT Repair Mechanism, which aims to cater to the diverse needs of our user base. Each NFT tier will have its own designated fee structure for repairs, ensuring fairness and inclusivity across all user segments.
Users can easily initiate repairs through their OceanFi account dashboard, with fees deducted automatically for seamless convenience. Upon payment, NFTs are instantly restored to full functionality.
Sustained User Engagement: Encourages continuous interaction, maximizing earning potential and reinforcing commitment to OceanFi.
Enhanced NFT Value: Maintains asset performance over time, preserving user investments and stabilizing the NFT market as well as the sustainability of the tokenomic.
Revenue Generation: Fees contribute to platform development, ensuring continuous evolution and user experience improvements.
Fair and Transparent Ecosystem: Standardized repair fees across NFT tiers promote inclusivity and trust among users, fostering a sense of belonging within our community.
The fee structure for NFT repairs within OceanFi is directly tied to the price of the OceanFi token. As the price of the token increases, so does the percentage fee applied to the repair process.
This construct is designed to ensure that repair fees remain proportional to the value of the token, maintaining fairness and consistency for users regardless of market fluctuations.
At lower token prices, the fee starts at 5.00% and gradually increases as the token price rises.
This progressive fee structure incentivizes users to repair their NFTs when the token price is lower, as the fee is comparatively lower, while also providing flexibility to accommodate for higher token prices without disproportionately burdening users.
