LooksRare

LooksRare is the community-first NFT marketplace that actively rewards traders, collectors and creators for participating. Trade NFTs, Get Rewards

By NFT people, for NFT people!

Part of being community-first means that LooksRare rewards, empowers, and gives back to the platform's users and creators.

️ Creators get paid instantly - Creators get royalty payments at the moment of sale.

Share the platform fees - 100% of trading fees are earned by LOOKS stakers.

Get rewarded - Users that buy or sell NFTs from eligible collections earn LOOKS tokens.

1. Staking : 1. earn 100 % platform Fees (WETH)

2. earn LOOKS (from token allocation).

2. Trading rewards : Both buyer and seller earn LOOKS tokens from token allocation.

3. Listing rewards : Listing NFTS earn rewards

LooksRare’s smart contracts are custom-built within a modular system that enables new features to be rolled out over time – without compromising security – thanks to standardized signatures that clearly define the execution scope.

This means LooksRare can offer new types of interactions, like these (rolling out soon):

Collection offer - Make an offer that covers all NFTs in a selected collection

Trait offer - Offer to buy any NFT with a specific trait in a collection e.g. BAYC w/ Gold Fur

Multi-cancellation - Cancels multiple open orders in one transaction

From utilizing some of the world’s most powerful search infra, down to implementing on-chain standards like EIP-712 and ERC-2981, LooksRare’s technical architecture (contracts, database, API, front end, search) has been designed from the floor up for scalability, speed and security using the latest and greatest tech.

LooksRare also made sure to retain compatibility for deploying on ETH scaling solutions when they're ready for the masses.

LooksRare consists of a stand-alone contract (LooksRareExchange) that coordinates with other smart contracts designed to provide instructions on how trades must be executed, verifies the validity of strategies and currencies, whether royalty fees must be paid (and to who), and how tokens must be transferred.

LooksRare's core exchange architecture consists of:

Currency manager (CurrencyManager) — it handles a whitelist of ERC-20 tokens that are valid for transactions on the system.

Execution manager (ExecutionManager) — it handles the list of valid execution strategies for matching makers and takers.

Transfer selector for NFT contracts (TransferSelectorNFT) — it assigns a token contract to its transfer manager based on the ERC-165 interfaceId, or other set of rules if contract is non-compliant (through a dedicated mapping).

Royalty manager (RoyaltyFeeManager) — it provides a stand-alone logic that tells how royalties should be collected. It supports ERC-2981 ("NFT Royalty Standard"), its own stand-alone royalty registry (RoyaltyFeeRegistry), with plans to support future third-party royalty fee oracles.

LooksRare's exchange consists of a hybrid off-chain/on-chain system where taker orders match maker orders to execute trades for NFTs.

It is a non-custodial exchange where orders require approval of the tokens (fungible and non-fungible) being transferred in a trade.

Off-chain orders ("Maker orders") are EIP-712 signatures that are stored off-chain.

A trade consists of a bilateral exchange of a ERC-20 token against a NFT token (e.g., ERC-721, ERC-1155) with a specific amount at a specific price. On each trade, trading fees can exist as (1) protocol fee and/or (2) royalty fee.

Protocol fees go to LOOKS stakers and royalty fees are collected by creators (at each trade).

LOOKS allocation

Release schedule of stakable LOOKS