Feature : DROPSPOT Liquid Offers
Dropspot Liquid Offers are an exciting and unique way to stretch your ADA further and make profitable trades.
Typically, most NFT sales are made via a market-order purchase, where an asset must first be listed to be sold at the price determined by the seller.
Offers give the ability for a buyer to determine or suggest the first price, and an offer can be made on any asset, be it listed or sitting within a collector’s wallet.
On average there are 10–20x more listings than there are offers for any given collection, causing an imbalance in price discovery and market efficiency.
Offers as we know them now
Whilst the ability to make an offer currently exists on some marketplaces (be this an asset or collection offer), there are a number of major limitations:
1. The offer amount can only be used once; That is an offer will apply to a single asset or a single collection offer at any time. This prevents the ability to target a group of items based upon traits or desirability.
2. You no longer earn delegate rewards on the offer amount; The offer amount is used to generate delegation rewards for the marketplace and not you.
Liquid Offers solve both of these problems. Dropspot Liquid Offers are a great way to not only purchase NFTs at a price that you determine, they add support to your project by adding buy-side pressure, as many more offers can now be made with the same amount of ADA.
Keeping your ADA staked.
When you make a Liquid Offer on Dropspot, your ADA remains delegated to your chosen stake pool, and you will continue to earn rewards on the offer amount, as if the ADA had remained in your wallet.
A Liquid Offer does involve committing an offer amount to a smart contract, however we generate a unique contract address for your wallet, allowing the amount to remain staked. You remain in full control.
Offer on multiple assets at once.
Offers made on Dropspot are liquid, in that the same offer amount (ADA), can be used across multiple assets (up to 20 for now) or collection offers. The first offer to strike will cancel the others.
This is extremely handy if you are targeting a group of assets, perhaps by trait to purchase at a price that may be above the floor.
Or alternatively you may be making an offer for specific assets across a number of collections.
Walkthrough: Making an Offer
Collection Offers
A collection offer is an offer that is made on ANY asset within the collection. When you make a collection offer you are saying: “I’ll pay x ADA for any item from this collection ie. Mulga Kongs”.
Asset Offers
Up to 20 assets from multiple collections can be added to a Liquid Offer. Here only the amount required to cover the highest asset offer is committed to the transactions. The first offer to be accepted will cancel the others.
Your Offers
Every offer that you make will appear in your portfolio. You will be able to manage (cancel) the offer from here. In the future we will release the ability to change the offer amount and add an expiry date to your offer.
Offers that you have made will be marked so that you can clearly identify this amongst other Collection or Asset offers.
Offers will appear against both the collection and the individual asset.
Walkthrough: Accepting An Offer
Assets in your wallet that have an associated collection or asset offer available can be sold via a Liquid Offer.
If you can accept an offer, you will see the ‘Accept’ buttons activate on both the collection view and in your received offers.
Activity
All Offer based activity will be reported for you in the Activity tab within your profile. This will show:
- Offers Made
- Offers Cancelled
- Offers that you’ve accepted
- Your offers that have been accepted.
When a transaction is complete, the transaction will be displayed and viewable through Cardano Scan or any other explorer that you wish to use.
Notifications
Activate Offer Notifications by navigating to notifications settings on Dropspot.
Visit Dropspot.io to make your magical offer. Follow us on Twitter and join our Discord. Check us out on Instagram
