Our team has been hard at work over the past month (and always) finalizing our next epoch of exciting collaboration and partnerships and getting ready to ship some major releases. These updates will greatly improve the functionality and user experience on Portion's platform. In the spirit of transparency, we wanted to take the time to share some of these updates with our community.
PRT Liquidity Mining and Minting Rewards
Over the past 30 days, we have distributed 200,000 PRT of Saffron.finance rewards for PRT liquidity mining and 68,000 PRT to all artists who have minted NFTs on Portion. That's ~$8,000 of gas fee reimbursements to artists on Portion over the past month! To help mitigate Ethereum gas costs related to minting NFTs, we are continuing to issue 500 PRT to artists for every piece they list on Portion, distributed every other Sunday.
New Functionality Rolling Out
Buy NFTs with PRT tokens
Starting April 14th, artists will be able to allow collectors to buy their creations with PRT tokens, based on the live ETH to PRT exchange rate.
Create editions for new artwork
Starting April 16th, creators will be able to offer multiples of their work, enabling more collectors to get their hands on an artist's work.
Integrating bidding (auction) functionality
Once enabled, collectors will be able to place bids on artwork. This functionality will be rolled out in multiple phases, starting with time-based drops with ERC-721 tokens (curated work), then expanding the functionality to all artists, and finally adding quantity-based bidding. Phase timeline: May 1st; May 15th; May 31st
Portion Binance Smart Chain Integration
Portion token has also neared successful integration on Binance Smart Chain through multichain.xyz. In the future, this will open PRT up for receiving multi-protocol payment distributions, as well as the minting of NFTs on BSC. Ultimately, this further integrates us within the Binance ecosystem, something we believe is for the best.
Preparing for Our V3 Launch
Furthermore, our V3 UI is close to completion, and the result is absolutely beautiful. Below is a sneak peak of what V3 will look like. Features such as bidding in PRT and auctions will be available under the new UI.
Ultimately, the Portion App will start to resemble what we have always envisioned; a beautiful platform for artists and collectors to transact and prosper. The new interface will make it significantly easier for anybody to interact on the platform, and will usher in broader adoption for Portion.
Lastly, we have several large announcements around artists, creators, influencers, and notable investors who will be joining the Portion community. More on this very soon.
Thank you all for boarding this ship with us! Buckle up.
Good things are happening,
Portion Team 👑
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