Comment on page

SIP-7: Conduct an OTC NFT acquisition event


This proposal suggests for the protocol to conduct an NFT acquisition event using its bespoke OTC NFT solution / mechanism.
This will enable Samurai Node NFT holders to dispose of their NFTs without being subject to tofuNFT’s royalty fees and facilitate the potential disposal of their NFTs at bulk, considerably enhancing the user experience.
By selecting many Node NFTs at once, the solution shall allow users to sell and dispose of their Node NFTs at scale within the dApp interface in exchange for xHNR tokens. The Samurai Node NFTs shall be acquired using the xHNR tokens in the protocol’s treasury.


Conduct the NFT acquisition event at 20th of February, 5PM UTC time.
The pricing of the Node NFTs within the OTC NFT’s acquisition event should be set in xHNR token terms and according to the floor price of the NFTs on TofuNFT -~ 15% to incentivise and encourage the use of Samurai’s OTC NFT alternative, in accordance with the rules stipulated in the feature’s initial governance proposal:
Utilise the xHNR tokens in the protocol’s treasury (specifically, up to a maximum of 2 946 110 xHNR) to conduct the proposed Samurai Node NFT acquisition event.
If there is a surplus of xHNR tokens that remain unallocated (not utilised to acquire Node NFTs), those shall remain in the protocol’s treasury.
The OTC NFT acquisition event shall unfold within Samurai's dApp at 20th of February, 2023, 5PM UTC time for a duration of 48 hours.