Decomposition
Decomposing Your $ART
Each LiveArtX membership NFT contains $ART tokens. The lockup period ends after 365 days. Once the lockup period is over, you can claim your $ART tokens as long as your NFT is not being staked. You can do these by decomposing your membership NFT.
There are 2 types of decomposition.
- Retain your membership NFT - Extract some $ART tokens and leave enough to retain the NFT. For example, your Level 3 membership NFT has 1,000 $ART tokens. You can recieve 900 $ART tokens and leave the rest inside the token to retain the NFT.
- Burn your membership NFT - Extract all the $ART tokens and burn your membership NFT. For example, you can receive the full 1,000 $ART tokens from your Level 3 NFT. However, you'll burn it in the process.
Your $ART tokens can be found in your wallet after decomposition.
The decomposition function can only be used once. You can only keep the membership NFT or burn it. Once you've used the function, you won't be able to call it again.
Retaining your membership NFT will allow you to receive most of the $ART tokens without destroying the token. You can keep it for the exclusive LiveArtX membership benefits or sell it on the secondary market.
You can burn your membership NFT to receive all the $ART tokens locked inside. But it's important to remember that once you burn it, you will lose your membership NFT.
Last modified 1yr ago