How to Create a Fjord Drop

Step by step instructions on how to create Fjord Drop NFT LBP.
The following document provides instructions for NFT drop owners to create and run a Fjord Drop via the Fjord NFTs user interface. A low level of developer experience is needed to create a Fjord Drop as you will need to set up an extension on your ERC721 contract before deploying.
Please visit https://github.com/alchemistcoin/token-extensions for further help and an example TestERC721.sol implementation

Testnet LBP creation

For artists/projects interested in experimenting please create a drop on our Goerli Testnet. To create a test drop your will need:

Step 1 - Navigate to the page

Head to https://fjordnfts.com/create/drops/mainnet and/or click on the “Create Fjord Drop” button on the Fjord Drops showcase page.

Step 2 - Authenticate Twitter

Next, you will see the Fjord Drops creation homepage. You will be required to connect to the correct network, and to authenticate your Twitter account in order to proceed.
Once your Twitter is authenticated, it should appear like so and you will be ready to proceed to the next step.

Step 3 - Adding the extension

In order for your NFT project to be eligible for launch on the Fjord NFTs platform, please follow these steps.
a. Install the nft-lbp library in your NFT solidity project
“npm install --save @alchemist.wtf/token-extensions”
b. Make your (ERC721) NFT contract extend from "@alchemistcoin/token-extensions/contracts/Erc721BurningErc20OnMint.sol"
“contract TestERC721 is Erc721BurningErc20OnMint { ... }”
c. Implement a "mint" function (as per IErc721BurningErc20OnMint) in your NFT contract that returns the minted token's ID when this function is called.
“function mint(address to) public override nonReentrant returns (uint256) { ... }”
Please visit https://github.com/alchemistcoin/token-extensions for further help and an example TestERC721.sol implementation
Once your NFT contract is deployed, please provide the address in the form like the one shown below.

Step 4 - Fjord Drop details

Contract address: Once your updated NFT contract address is ready, input the new contract address in the prompted bar.
NFT Collection Logo: Provide an image to use as the logo for the collection. We recommend a square image. We recommend a size of 250px x 250px.
Cover photo: Provide an image to be used as the main banner image when users are interacting with the Fjord Drop. We recommend a high quality, larger sized image here. We reccomend a size of 800px x 640px.
Description: Provide a description, up to 1500 characters sharing more about your Fjord Drop and the project/story behind it.
Number of pieces: Provide a number of pieces that are in the collection vs the number of pieces available to mint during the Fjord Drop.
Outlinks: Share links to your website of choice and a discord invite link to provide users a chance to get to know your community and project more. Once this is done and everything else is correct and complete, you can proceed to the next step.

Step 5 - Choose collateral and set the weights

These steps create the price decay effect for the Fjord Drop. WETH is required as collateral and the amount needed will depend upon desired price range and collection size, however there is no minimum amount required. Similarly when interacting with DeFi protocols such as Balancer, the lower the collateral / liquidity, the higher the impact on price for users when purchasing an NFT.
For duration, 3 days has been the most common for ERC-20 LBPs, however, it is up to the discretion of the creator to choose a suitable duration. It is helpful to think of duration as an accordion, the shorter the duration the more condensed the price movement, and the longer the duration the more spread out.
For weights, we recommend supporting true price discovery with a large variance in weights such as 96/4 to 10/90. However, it is up to the creation team to determine this. You can try adjusting the Fjord Drop parameters as per below to test out different scenarios to find a configuration that suits your project.

Step 6 - Transaction fees

Creators are able to earn a transaction fee on purchases made via the Fjord NFTs platform. The default setting is 2.5%, however you can change this as you wish.
Note - Creator rights
Although you don’t need to do anything here, a note is provided about the creator rights, which include the ability to pause minting and end the mint early. More info is provided about this in X section.

Step 7 - Review information

Once you’ve completed the previous steps you will be taken to a review screen where you will see a summary of all information provided. Please check it carefully and once confirmed you will then be prompted to continue.

Step 8 - Review terms and conditions

Before proceeding to the creation transactions you must agree to the platform terms and conditions.

Step 9 - Sign creation transactions

Now that your NFT Drop configuration is ready you need to deploy it to the blockchain network. To do so you must sign the following transactions using your wallet. A list of all the transactions that need to be signed are below.
Once these transactions have all been successfully signed, you will see ticks next to them like so.

Step 10 - You’re live!

Congratulations, your Fjord Drop is now live!