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$NLSP

$NLSP

$NLSP is an LSP-backed asset minted on Stellar, and it’s used for buying and selling Lusis on Lumenswap’s NFT marketplace. 1 NLSP = 10,000,000 LSP.
Asset info
Asset issuer: GDZFBTRT…N4SP4MNM
Asset code: NLSP
Asset type: credit_alphanum4
Decimal: 7
Lumenswap guarantees the relationship between the two assets will stay the same. But how?
We’ll use Stellar’s DEX order book to create a high volume of buy and sell orders, meaning that users will be able to trade any number of LSP for NLSP and vice versa. To keep the buy and sell orders open, we use a small spread between the buy and sell orders. What this means is that if you go through the LSP-> NLSP -> LSP cycle once, you’ll lose a small amount of LSP.
When using Lumenswap to convert LSP and NLSP, first enter the amount of NLSP. This way, the network will set the lowest amount for the spread.
Why NLSP?
To prevent asset fractions, the total supply for each Lusi is set to the minimum possible value, i.e., 0.0000001.
To sell 1 Lusi at the price of 100,000 LSP, you need to sell 0.0000001 of the asset at the price of 1,000,000,000,000. However, the network can’t process these numbers. Therefore, we’ve minted a new LSP-backed asset with a high price to solve this problem.
Last modified 1mo ago
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