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Liquid Editions are ERC-20 tokens that function as living generative artworks. Instead of owning a single NFT image, you hold fungible tokens whose on-chain trading activity directly shapes and updates the artwork in real time on SuperRare.

Supply is fixed at launch and trades on a bonding curve, so price moves dynamically with demand. The result is a token where market behavior and the art itself are inseparable.

What exactly is a Liquid Edition?
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Unlike traditional NFTs (ERC-721s or ERC-1155s), a Liquid Edition is an ERC-20 token that functions as a dynamically rendered, generative artwork. Think of it as one object with two surfaces:

The visual surface is alive; it regenerates through the system and UI in real-time as collectors interact with the market surface.
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Wait, if I buy an ERC-20, what do I actually own? Do I get an NFT?
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When you purchase a Liquid Edition, you are buying fungible ERC-20 tokens.
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By holding a balance of these tokens, you automatically receive an associated, dynamically generated image on your profile. You own the fungible tokens, and the art is a visual representation of the contract's current state.
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So wait, are there NFTs attached?
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No, not by default—BUT artists have the option to offer them in tandem. The Liquid Edition itself is strictly an ERC-20 token.
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However, artists can choose to create accompanying "Lenses," which are standard ERC-721 tokens (traditional NFTs). Think of the ERC-20 market as the common substrate, and the ERC-721 Lenses as the interpretation layer where the artist's style and constraints are expressed.
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​How do "Lenses" work? Are they all the same?
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No. If an artist chooses to use Lenses, they can deploy them in two distinct ways:

​Can the ERC-721 "Lenses" change or be destroyed?
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Yes. Because artists write their own logic for the ERC-721 render contracts, they can design any mechanics they wish based on the underlying ERC-20 state. This means artists can code Lenses to dynamically unlock new traits, decay over time, or even disappear and be revoked if certain market conditions on the Liquid Edition are met.

​Will the artwork show up in my standard wallet or on OpenSea?
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No. This is a crucial distinction. Because the Liquid Edition itself is strictly an ERC-20 token, standard wallets (like MetaMask) and traditional NFT marketplaces (like OpenSea) will only display your numerical token balance, not the generative image.
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The dynamic artwork is designed to be viewed and rendered natively on the SuperRare platform. However, if the artist releases accompanying ERC-721 "Lenses," those will appear in your wallet and on OpenSea like any standard NFT.
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​How does the generative art actually work?
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Creators are not locked into any single visual style. Instead, they deploy an on-chain render contract that uses the Liquid Edition market as its input. Because the art reads the live market state, visuals and metadata can be static, dynamic, or fully reactive to on-chain behavior.
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The market state acts as the parameter space for the artwork.
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How exactly does the artwork "know" when to change?
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The artwork doesn't update randomly or rely on a centralized server timer. It is strictly transaction-driven. The metadata is pull-based—whenever there is an indexed, state-changing event on the blockchain (like a swap, transfer, or burn), the system invalidates the cache and forces a re-render. Every visual mutation you see is the direct consequence of on-chain market activity.

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How is the initial price set when a Liquid Edition launches?
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Artists have two distinct launch styles to choose from:

​What is the total supply and token distribution?
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Every Liquid Edition has a hard cap of 1,000,000 tokens minted at initialization. Aside from a potential small carve-out for the artist, 100% of the supply is deposited directly into the Liquidity Pool at launch. There are no complex vesting schedules or team unlocks—the only normal way to acquire tokens is to buy them on the open market.
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Are Liquid Editions deflationary?
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Yes, they can be. The contract supports explicit burn functions. When tokens are burned, the total supply permanently decreases, which natively impacts the liquidity pool dynamics, market cap, and the generative artwork itself.
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Are there protections against sniper bots during the launch?
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Yes. To protect against the sniper bots that typically plague standard ERC-20 token drops, we are integrating a Uniswap Liquidity Launchpad (utilizing a Fair Launch Auction protocol).
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Instead of a traditional first-come, first-served liquidity pool where bots can instantly sweep the supply at launch, the launchpad mechanism ensures a much fairer initial distribution for genuine collectors, mitigating the advantages of automated sniping.
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Are there any buy/sell taxes or trading fees?
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​Unlike many tokens, there are no hidden "dev taxes" or convoluted transfer fees coded into the Liquid Edition contract. Currently, when swapping tokens, you will only pay a 5% fee, split between the artist and SuperRare.
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Why is my wallet (MetaMask/Phantom) giving me a warning when I try to buy or sell?
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Because Liquid Editions utilize a novel smart contract structure and a newly deployed liquidity launchpad, standard wallet providers may not have whitelisted the exact router yet. This can occasionally trigger a "Blind Signing" or "Unknown Contract" warning.
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Our contract is fully verified on Etherscan and the liquidity routing is standard, but always ensure you are interacting strictly through the official SuperRare UI to stay safe.
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How is pricing determined? Are we using an AMM?
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Pricing is determined dynamically via a bonding curve, utilizing the Doppler library. Because it's on a bonding curve, the price continuously adjusts based on supply and demand rather than a traditional order book.
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Why are some of my buy/sell transactions failing?
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Because the asset trades on a bonding curve, the effective price changes with every single transaction. If multiple people bid at once, your transaction might fail due to standard slippage. While we are looking into relaxing slippage parameters to make buying easier, be aware that setting slippage too high in any liquidity pool opens you up to MEV bot "sandwich attacks."
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Why don't I see a price chart on the UI?
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We deliberately omitted the native price chart to emphasize the art-centric nature of Liquid Editions over pure speculative tokenomics. We want the visual disagreement of the art to be the primary focus. However, because it is a standard ERC-20, traders can easily track the token via external tools like DEXScreener or other chart-scraping sites.

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Where will my Liquid Edition show up on my SuperRare profile?
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Even though the underlying asset is an ERC-20 token, the dynamically generated artwork will be displayed directly in your SuperRare collection grid, right alongside your traditional ERC-721s.
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Your numerical token balance is currently visible on the trading widget, and we are actively pushing an update to display your exact ERC-20 balance cleanly on your main profile page as well.