2.2 Quick Start Guide
Start earning from your NFT holdings today.
This guide is for new and experienced users alike to quickly get up and running with what Omura has to offer.
What is Omura?
Omura is a Cardano DeFi trading platform that simplifies trading in the NFT market. This is made possible by exchanging NFTs for tokens, any amount of which may be traded on the open market.
Why use Omura?
With long list times, changing market conditions, and uncertainty over the true value of your NFT, many inefficiencies apply to the trading of NFTs on traditional marketplaces.
Investors have found maintaining large positions in NFTs to be unwieldy and downright frustrating. Omura is a platform geared for liquid exposure to this market, without the hassles of direct ownership. Omura also provides portfolio management tools and market insights to help you stay on top of your holdings.
How does Omura work?
Omura is based on the working principle that traders would rather invest in projects, not individual NFTs. To facilitate this, each verified project has a unique token. Users may convert their NFTs into tokens through The FPT Exchange.
Conversion between NFTs and FPT (Fractional Policy Token) is a 1:1 process. The circulating supply for each collection is always equal to the number of NFTs deposited to the project pool. NFTs may be withdrawn from the pool at anytime by burning FPT.
We do not advise depositing highly rare NFTs into a project's pool, as the FPT received is equivalent in value to the floor price of the project.
Connect Your Wallet: First, visit the Omura website and connect your Cardano wallet to Omura. You'll need to sign a transaction to confirm the connection.
Fractionalize Your NFT: If you own an NFT from a verified project, you can fractionalize it into FPT. Click on your wallet and use the dropdown menu to select the NFT you wish to fractionalize, and submit it to the project's pool. You'll receive an equivalent amount of FPT.
Trade FPT: Once you have FPT, you can trade them on the Trade page. Select the FPT you wish to trade, specify the amount, and execute the transaction.
Stake FPT: Earn LP fees by staking FPT-ADA pairs. Navigate to the Markets page and select 'Add Liquidity'. T, a small fee is earned by the Liquidity providers in return for facilitating the transaction. To learn more about earning from your NFTs click here.
Redeem NFTs: You can redeem NFTs by burning FPT. First unstake your FPT, then head to The FPT Exchange and select Withdraw.
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