Liquidity Position NFT

On Monocerus Swap, liquidity provider (LP) positions are represented by NFTs (ERC-721 tokens) called MONOCERUS-POS. A unique NFT representing your position in the specific pool will be generated based on the pool and the parameters you select on the liquidity providing interface. As the owner of the NFT, you can modify or redeem the position at any time.

MONOCERUS-POS NFTs are supported by XML-based vector images based on two-dimensional graphics with animation and interaction functions.

Monocerus Swap user provides liquidity, which is thought to be the reason for receiving a MONOCERUS-POS NFT, but this is an enormous misconception. Which is not just an item to the user and by receiving this NFT, you will own your deposited funds and have the right to redeem them. If this NFT is subsequently sold or transferred, then your right to redeem previously deposited funds will also be transferred.

MONOCERUS-POS NFTs are generated automatically, users need to follow some instructions here and then the V3 smart contract mints a MONOCERUS-POS NFT to represent your funded position and sends it to you.

In the following picture, we can see what MONOCERUS-POS NFTs look like.