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{Dev}

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Project idea draft: AMM for NFT

This project idea is originally submitted for the Wax, but can also be developed at any other smart-contract-friendly blockchain for ERC1155-type assets.

This is the draft. Please share your feedback in the comments, so we could improve this idea together. Also, please share your thoughts of how could it be adopted by the current and future projects inside the Wax ecosystem :)

💡 THE IDEA

Automatic market maker (CPMM-type) for Atomic Assets or/and Simple Assets tokens on Wax Blockchain.

❔ WHY?

  • Develop a few new lego blocks that can be used in the establishment of DeFi inside the Wax ecosystem.
  • Create an assets' fractionalization (NFT sharding) with natural circulation.
  • Create an opportunity for Wax NFT holders to earn passive income.

💪 ADVANTAGES (over an existed regular NFT marketplaces)

  • All advantages of AMM (fair price discovery, absolute infinite liquidity) - see more here.
  • Increased tokens trading velocity forced by mint and stat hunters (see further).
  • NFT shards are fungible tokens that can be traded separately. This creates additional liquidity for the high-valuable NFTs.

🛫 HOW IT WORKS

  1. User deposits NFT and WAX to the liquidity pool (50:50 by price) and the protocol returns pool tokens (as in the regular CPMM).
  2. On every trade, protocol earns a trading fee (that is distributed to the liquidity providers). When a user buys NFT — he pays extra WAX to cover the fee. When a user sells NFT - he receives less WAX to cover the fee.
  3. When the liquidity provider... (More)
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{Dev}

WAX is looking to hire blockchain fullstack developers!

- Build smart contracts in C++

- Create backend systems with NodeJS

- Utilize virtualized environments like Docker

 

Got & Solidity experience? Apply here: http://on.wax.io/careers