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Monday, May 23, 2022

LooksRare Defi Coin Review: It Is Safe Or Not? Read Our Full Review

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About LooksRare

LooksRare is the token powering, the community-focused NFT marketplace that actively rewards traders and creators for participating. 100% of The platform trading fees are earned by LOOKS token stakers: a rewards model created in direct response to the previous generation of NFT marketplaces whose fees mostly reward a single entity.

Users earn LOOKS tokens by trading NFTs on LooksRare Defi, staking LOOKS (which also earns WETH fees), and more. The trading experience is intuitive for experienced NFT traders, while also providing new and innovative features like collection-wide offers, instant royalty payouts for creators, and flexible purchases using mixed tokens (WETH +ETH).

Behind the simple user experience lies an innovative, modular smart contract design and a full-stack built from the ground up for scalability, security, and speed. LooksRare model was designed in direct response to the previous generation of NFT marketplaces, with the goal of fostering the NFT community by rewarding user participation.

LooksRare Defi Facts

Lightning Network Facts
Defi Coin NameLooksRare
Circulating Supply245,569,744.00 LOOKS
Explore Click Here To View Explore
SourceClick Here To View Source
Chat Option Click Here To Visit Chat
Document Click Here To View Document
Official WebsiteClick Here To View Website

By NFT people, for NFT people

This is who we are.

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

  • Get rewarded – Users that buy or sell any NFTs on LooksRare earn LOOKS tokens.
  • Share the platform fees – 100% of trading fees are earned by LOOKS stakers.
  • Creators get paid instantly – Creators get royalty payments at the moment of sale.

Not a fork

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 they 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


Percentage of supply
Strategic Sale3.3%33,083,003
Liquidity Management1.7%16,916,997
Volume Rewards44.1%441,000,000
Staking Rewards18.9%189,000,000
Founding Team10%100,000,000
Total Supply100%1,000,000,000


LOOKS is currently listed on the following exchanges

  • Uniswap
  • How to buy
  • How to add liquidity

Brand, Logos & Usage

These guidelines cover Brand Assets, including but not limited to:

  • The names “LooksRare” and “LOOKS Token”
  • The LooksRare logo (text and icon)
  • The LOOKS diamond-eye icon

LooksRare Defi is pretty open minded and flexible with icon, but not name.

They encourage creators to make derivative artworks based on the icon, and tbh they wanna see the community get real weird with it. If you’re selling derivative works, please give attribution and make sure you follow the guidelines here carefully so we don’t have a disagreement. If it’s dope, @on social so they don’t miss it!

BUT, logo and name are important, copyrighted parts of our brand, and we must protect them. So let’s go over a few ground rules.

LOOKS Staking to Earn Platform Fees

LooksRare collects a basic sales fee of 2% (in WETH) on all NFT sales excluding private sales. All the WETH collected from these fees are consolidated at the end of each recurring 6,500 Ethereum block period (roughly 24 hours) and then distributed to LOOKS stakers in a linear format per block over the next 6,500 block period.

How often can I claim my WETH rewards?

Any time you want. There’s no limit on the number of times you can claim your rewards each day, but just be cautious of the gas fees you are paying to claim.

Active and Passive Staking

The rewards for each day are calculated at the end of the previous period, then split between Active and Passive stakers before they’re distributed.

Active stakers are the majority of stakers, whose staked LOOKS tokens are fully unlocked.

Passive stakers are stakers whose LOOKS tokens are locked for trading but unlocked for staking: namely Team, Treasury and Strategic sale tokens (which unlock over time – read more).

At the start of each 6,500 block period, a portion of the WETH fees collected from the previous 6,500 blocks are sent to the Passive Staking address. The amount is calculated as:

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