LTI Smart Contract
🌌 Welcome to the 5Sky LTI Smart Contract FAQ! 🌌
What is the 5Sky LTI smart contract?
The 5Sky LTI smart contract, known as the 'core' of phase two, handles the creation, purchase, and upgrade of NFTs within the 5Sky ecosystem.
What are the main functions of the contract?
The contract has three primary functions:
Create Function: Allows the creation and listing of new artistic tokens.
Purchase Function: Enables users to buy an NFT using a unique invitation code.
Upgrade Function: Lets NFT holders upgrade their token's design to a more valuable one.
How does the Purchase Function work?
When a user buys an NFT, the purchase function distributes rewards to senior team members, transfers a portion to PancakeSwap for 5Sky tokens, and divides a part among the 5Sky development and marketing team. All these transactions are done using BNB cryptocurrency.
What happens during an NFT upgrade?
The upgrade function allows users to elevate their NFT's design by paying the price difference. The benefit sharing during an NFT upgrade is similar to its purchase, meaning team members profit from the upgrade.
Are there any additional costs during an NFT upgrade?
No, users are only charged based on the price difference between their current and new plan. There's no additional 5 USDT (Tether) fee, ensuring cost-effectiveness.
What is the NFTData structure?
The NFTData structure contains information about an NFT token, such as its design, invitation code, number of subsets, and parent token ID.
Why does 5% of the total 5SKY tokens reside in a specific contract address?
This setup ensures that transaction fees on the 5Sky token, meant for burning, administrative purposes, and charity, aren't deducted from the reward tokens given to users. Instead, deductions come from the 5% reserve in the contract address.
Why isn't this contract exempted from fees?
The contract isn't exempted to prevent potential misuse and to ensure that future contract modifications don't compromise the added value principles.
Where can I find more technical details?
For a deeper understanding of invoking functions and examining logs, please refer to the 'developer' section under 'technical details'.
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