There is a major problem of insufficient liquidity in the NFT space. Most NFT marketplaces still rely on old Order-based systems which are not efficient, especially in the decentralized world where AMMs have taken over as evident by the success of Uniswap, Sushiswap and more.
ERC1155 can be termed as semi-fungible as their quantity is not limited to just 1 making them perfect to be put in an AMM pool that we have all become familiar to.
With NFTPool.Exchange it is possible to deploy new NFT pools, provide liquidity and instantly swap between NFTs and DAI using the formula x*y = k. Liquidity providers earn 0.3% fees on the trades.
This opens up exciting opportunities where these LP tokens can be used in Yield farming and bootstrap deep liquidity for ERC1155 NFTs which is currently not possible efficiently.
For this Hackathon I have integrated Chainlink Keepers to enable users to place Limit Orders when the price of NFTs changes in the future.
Log in or sign up for Devpost to join the conversation.