Understanding Rewards on Freee
Learn more about how rewards work on Freee
Welcome to Freee, the innovative platform where creativity and community engagement are rewarded. Our platform is designed to foster a thriving ecosystem for NFT creators and collectors alike. By participating in various activities on Freee, users can earn rewards in the form of Diamonds and Points, as well as share in the platform's success through fee distribution. This document outlines the reward mechanisms and potential uses for the rewards earned on Freee.
Platform Fee Sharing
Earning Mechanism
Freee's mission is to bring creativity onchain, and we're committed to providing the best tools and features to help creators earn sustainably from their work, even while posts are available for 0 ETH. Our Protocol Rewards enable creators and developers on Freee to automatically earn a share of the mint fees collectors pay. Regular contributors to the platform can potentially earn a steady stream of income through this fee-sharing mechanism. Protocol Rewards is currently applicable to Single-edition and Multi-edition type contract on Freee.xyz
Before viewing the fee breakdown, there are a few terms you should understand:
Creator Reward
This reward goes to creator who create NFT on Freee through Freee’s Creator Toolkit. It require the price of NFT set to 0, which means that it's a Free Mint.
Create Referral Reward
This reward is earned on each mint by those who have invited users to Freee OR by platforms/developers that have used the Freee Creator Toolkit.
Who does it go to?
Users who invite their friends to create on Freee
Alternative clients that facilitate creating on their app
Mint Referral Reward
This rewards users and platforms that showcase posts made with Freee’s Creator Toolkit, either on Freee or elsewhere. The referrer earns a reward for each NFT minted through a Freee Creator contract they support.
Who does it go to?
Users who share mint links.
Alternative clients that let collectors mint on their app
Platform Reward
Reward that goes to the platform, Freee.xyz on every succesfful NFT mint. To note, when Create Referral Reward or Mint Referral Reward doesn't exist, the reward will be allocate as Platform Reward.
Breakdown of our Rewards
Find below for our breakdown of the Freee Platform fee and how it is split among creators, collectors, developers, builders, and Freee.
Rewards Breakdown for Free Mint (Example - Base platform fee 0.0001 ETH):
Creator Reward
40% of platform fee (0.00004 ETH)
Creator referrer
10% of platform fee (0.00001 ETH)
Mint referrer
20% of platform fee (0.00002 ETH)
Freee fee
30% of platform fee (0.00003 ETH)
*when mint price set to 0 Rewards Breakdown for Paid Mint (Example - Base platform fee 0.0001 ETH):
Creator Reward
0% of platform fee (Entitled to all Paid Mint fees)
Creator referrer
10% of platform fee (0.00001 ETH)
Mint referrer
30% of platform fee (0.00003 ETH)
Freee fee
60% of platform fee (0.00006 ETH)
when mint price isn't set to 0
When Create Referral Reward or Mint Referral Reward doesn't exist, the reward will be attribute as Freee fee.
Purple Diamonds
Earning Mechanism
Users are rewarded with 100 Purple Diamonds each time they mint an NFT on Freee. Purple diamonds distribution is subject to specific conditions, learn more.
Potential Uses
Exclusive Access: Purple Diamonds could grant access to special events or early previews of upcoming NFT drops.
Discounts: Users may use Purple Diamonds to receive discounts on platform fees or on the purchase of selected NFTs.
Status Symbol: Accumulating Purple Diamonds could elevate a user's status within the community, unlocking badges or profile enhancements.
Blue Diamonds
Earning Mechanism
Creators receive 100 Blue Diamonds each time their NFT is minted by another user. Blue diamonds distribution is subject to specific conditions, learn more.
Potential Uses
Promotional Tools: Blue Diamonds could be used to feature the creator’s NFTs on the platform’s homepage or in marketing materials.
Enhanced Visibility: A higher balance of Blue Diamonds might result in better visibility in search results or recommendations.
Community Influence: Creators with significant Blue Diamonds might have a say in future platform developments or community-driven initiatives.
Points
Earning Mechanism
Users earn 300 Points for each successful referral to Freee.
Potential Uses
Redeeming for Assets: Points could be exchanged for exclusive NFTs or digital assets that are not available to the general public.
Voting Rights: Points might count towards voting on community decisions or platform upgrades.
Tiered Membership: Accumulated Points could qualify users for different membership tiers, each with its own set of privileges.
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