LooksRare allows you to trade qualifying NFTs and earn LOOKS simply by trading NFTs. Trading incentives are an important aspect of LooksRare's token economy as they aim to become the world's most liquid marketplace for NFTs.
Users who trade NFTs from qualified collections get trading incentives in the form of LOOKS tokens, the platform’s currency. For their trade volume, both the buyer and seller of an item gain incentives (except for private sales).
Trading rewards are computed daily and distributed to users two hours after the day's finish. The whole schedule of trade reward emissions will be over 4,686,250 Ethereum blocks (or about 721 days at a rate of 6,500 blocks per day), after which all LOOKS token releases will cease as the ecosystem becomes completely self-sufficient.
Please visit the LooksRare website to learn more about how many LOOKS tokens are allocated for trading rewards.
Trading rewards are determined every day based on each user's trading volume in eligible collections as a proportion of overall platform transaction volume in qualifying collections.
Every day at 2:00 a.m. (UTC), trading rewards are available to claim. Each day, between 0:00 AM and 2:00 AM (UTC), claiming is paused for two hours while trade rewards are processed. Every day at 2:00 a.m. (UTC), you may collect your prizes on the Rewards page.
The only collections that are eligible for trading rewards are any collection that reaches at least 1,000 ETH trading volume and will be automatically added to the list of collections eligible for the trading rewards. Once a collection reaches 1,000 ETH in trading volume, rewards will begin to be processed from sales completed after 0:00 AM (UTC) the next day.