gm Bankless Nation, Coinboost is a new tool that lets you quickly incentivize trading and boost visibility for your Zora Coins. Let’s walk through how it works!
gm Bankless Nation, Coinboost is a new tool that lets you quickly incentivize trading and boost visibility for your Zora Coins. Let’s walk through how it works!
Today's Issue ⬇️
🌇 Culture News: X2Y2's Pivot The NFT marketplace is sunsetting.
📉 X2Y2 Is Pivoting to AI. The Ethereum NFT marketplace is closing its trading platform on April 30th as the team shifts focus to AI-powered crypto applications.
💰 GONDI Enables Buy Offers. The NFT lending platform now lets users place buy offers on any NFT, even those in active loans, with 0% fees and support for USDC and WETH.
🐈⬛ Gutter Cat Gang’s Token Sale Flops. Once a top NFT project, the collection raised just 3.66 ETH in its $GANG token sale, far short of its $1M target.
. . .
GUIDE
Coinboost: An Onchain Growth Engine for Zora Coins
I was just testing out the flow, so I didn't announce the drop anywhere. Yet it still reached 10 buyers and a ~$2,000 market cap. Not bad for a test!
But let's say I actually wanted to do a serious Zora Coin release and get it more widely discovered and traded. What to do?
Here, cue in Coinboost.
Launched last week by Boost Studios, Coinboost is a plug-and-play incentive engine built on Boost V2 that lets you quickly incentivize trading and boost visibility for your Zora Coins.
The tool is super simple to use, too. I'll walk you through how it works using my Mintaphor coin to demonstrate.
Start by heading to coinboost.wtf, signing in with your wallet, and switching over to the Base network if you need to. Then click the “Create” button at the top of the page.
Doing this will bring you to the deployment interface, like so:
Now it's time to pick your coin. You can launch a new coin through Zora right from this UI, or paste in an URL for one of your existing coins. Here's how it'll look once you're primed to proceed:
At this point, you'll be ready to set up your incentives.
Right now, you can only use the coin you're boosting as the reward and bonus, but the Boost team is planning to add the ability to use different coins, multiple coins, etc.
For example, below you can see I've set up 25M $Mintaphor as my rewards budget with a 100% bonus. This bonus means that if someone buys $1 of my coin, they'll earn a $1 reward, effectively making their purchase free. You can set this bonus percentage wherever you want, though.
To finish up, press “Deploy Boost,” confirm your reward details, and then sign the approval transaction and the spend transaction with your wallet.
Voila! That's all it takes to use Coinboost. You'll be given a bespoke link (like this) for your boost that you can share around and have people trade through.
All in all, it's a cool and streamlined app that demonstrates what Boost's onchain growth engine can do. If you're a Zora lover and plan on launching more stuff there, Coinboost can be a great new addition to your creative toolbox.
Unlock the power of Unichain – a fast, decentralized Ethereum Layer 2 network built to be the home for DeFi and cross-chain liquidity. To bridge tokens to Unichain and start swapping today, get started with Uniswap Labs' web app or mobile wallet.
Not financial or tax advice. Bankless content is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time we may add links in this newsletter to products we use. We may receive a commission if you make a purchase through one of these links. Additionally, the Bankless team holds crypto assets.
