JPEG boosts are a novel system introduced by JPEG'd, allowing users to lock $JPGD to increase their borrowing power, get more value from their rare NFTs and more.
Traits Boost allows users to increase the credit limit of NFTs with rare traits that trade multiples above the collection floor. These multipliers are determined by governance and fluctuate based on floor price. These newly boosted NFTs still move along with the floor, with an added boost from a set multiplier. Current trait multipliers can be viewed here.
To enable the Traits boost, $JPGD tokens need to be locked on a per position basis. The credit limit can be boosted up to 10x the current floor value depending on the collection.
Once activated, the boost effects are perpetual, until the boost owner requests the withdrawal of the associated $JPGD. At the end of the withdrawal processing period, the NFT will go back to floor price, which can possibly trigger a liquidation.
Once created Boosts can be managed from the "Boosts" tab.
Boost owners can request a withdrawal at any time. The processing period is of 7 days, after which the boost associated to the position will be disabled and the $JPGD will be available for withdrawal.
Locked JPGD always remain the possession of the boost owner. In case of transfer of the NFT, the associated JPGD boost remains active for any future owner of the NFT until disabled by the boost owner.
In case of Liquidation the locked JPGD get burned.
All boost created prior to the application of PIP-58 have been marked as having a withdrawal requested and unlock time will be the current unlock time set when creating the boost. Users can cancel the withdrawal request anytime.