Collection.xyz: Unveiling a new NFT DEX protocol for users to buy and sell NFTs automatically
Collection.xyz NFT DEX protocol will launch on the Goerli testnet today, with the Ethereum mainnet launch slated for Q1 2023.
We are excited to announce the launch of our new decentralized exchange (DEX) protocol for non-fungible tokens (NFTs) on Collection testnet today. The protocol allows users like you to create pools that automatically buy and sell NFTs based on any logic or strategy, such as traits, rarity, or even whether they are banned on Opensea.
Image: Collection.xyz pool creation page
Under the hood, the protocol uses Merkle proofs to specify and target specific NFTs by token IDs, allowing you to group NFTs based on your desired criteria set. This enables you to target individual tokens, user-defined groups, or the whole collection. In addition to its advanced pooling features, Collection.xyz also offers liquidity incentive vaults and no protocol fees for users. The protocol also allows liquidity providers to honor royalties to NFT creators, making it a holistic liquidity solution for both creators and collectors.
Image: Collection.xyz vault creation page
“Collection.xyz’s new design solves a long overlooked challenge with liquidity pools excluding a large number of NFTs that trade at a premium to their collection floor,” says Chris Sirise, Partner at Saison Capital. “Combined with their incentive vaults product, there is now a holistic liquidity solution for both creators and collectors.”
Collection.xyz’s launch on testnet allows the protocol’s core contributor, NFT infrastructure startup Gomu, to receive feedback from users, liquidity providers, and project creators. The code base is also undergoing an audit in preparation for its Ethereum mainnet launch.
“We believe that NFT DEX infrastructure is essential for the growth of the NFT industry in all market conditions,” says Spencer Yang, core contributor for Collection.xyz and CEO of Gomu. “The unique features we’re introducing with our launch with advanced pooling, incentive vaults, royalties set by liquidity providers and no protocol fees will be a game changer for the industry.”
With NFT Finance and DeFi protocols having a combined $175M and $54B in Total Value Locked, this demonstrates the significant presence of NFTs in the broader industry. Collection.xyz aims to be the decentralized exchange protocol for NFTs that forms the building blocks for the movement of NFT Finance. The core team behind Collection.xyz has built experience working with companies such as Coinbase, CoinMarketCap, and Chainlink through various market cycles.
Collection.xyz’s unique offering of advanced pooling, incentive vaults, and the ability for liquidity providers to honor royalties to NFT creators sets it apart from other protocols in the industry. Ultimately, Collection.xyz aims to help NFTs as an asset class blossom into the standard for wrapping all non-fungible assets in the world, including art, brands, IP, synthetic assets, membership, real estate, and more.
Visit Collection.xyz to experience our new NFT DEX AMM on Goerli testnet now!
Read more:
- (NEW) Collection Docs: https://docs.collection.xyz/
- (NEW) Collection Whitepaper: https://docs.collection.xyz/guides/collection-1-nft-dex-to-automatically-buy-and-sell-nfts-you-desire/the-collection-whitepaper
- (NEW) Collection 1.00 Patch Notes: https://docs.collection.xyz/guides/collection-1-nft-dex-to-automatically-buy-and-sell-nfts-you-desire/collection-1.00-patch-notes NEW
Updated as of Jan 5, 2023 by Jeremy of Collection.xyz
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