Safeboxes

Yours and yours only, until the right price comes along.

What are Safeboxes?

Safeboxes are personal storage units within the Flooring Protocol where users can deposit NFTs while still retaining ownership rights. They require staking $FLC to access.

Why do I want to use a Safebox?

Using a Safebox separates the value of your rare NFT into 2 portions : Floor Value: This is the base value of your NFT in the collection Premium: This is the price difference between your NFT's value and the floor

The Floor value will be represented by 1,000,000 μ-Tokens equal to the value of 1 redeemable NFT from the collection Vault you deposited in. You are able to easily sell or trade these tokens on DEXes. The Premium value is encapsulated in the exclusive Safebox Key tied to your specific rare NFT.

How do Safeboxes allow retaining NFT ownership?

When depositing into a Safebox, users receive a unique Safebox Key that acts as proof of ownership. Only the key holder can unlock the Safebox to redeem or transfer the NFT.

How do I unlock my Safebox?

To open a Safebox, you are required to own the corresponding Key to the NFT you are trying to Redeem + 1,000,000 μ-Tokens of the corresponding NFT collection.

What are Safebox Keys?

Safebox Keys are cryptographic keys that provide the holder access to a specific Safebox they created. Keys can be transferred or traded. The holder of a key retains ownership of the NFT inside the corresponding Safebox.

Do I need $FLC tokens to use Safeboxes?

Yes, you need to stake a minimum amount of $FLC tokens to create a Safebox and obtain a key. More $FLC staked allows longer locking periods.

Can anyone else redeem my NFT in my Safebox?

No. Only the holder of a Safebox Key can unlock that Safebox and redeem the NFT inside. The key proves ownership.

How long can I lock my NFT in a Safebox?

You choose the locking duration when creating the Safebox, in 5-day increments. Higher VIP levels gained by staking more $FLC allow longer maximum durations.

What happens if I lose my Safebox Key?

Your Safebox Key is tied to your Flooring Account based on your wallet, so keep your wallet and keys safe and accessible!