A Detailed Guide for using the THETIGERSGUILD NFT20 Pool
What is NFT20?
NFT20 is a permissionless p2p protocol to tokenize NFTs and make them tradable on decentralized exchanges such as UniSwap or Sushiswap.
Anyone with an NFT can create a new pool or add his NFT to an existing pool and get ERC20 Token derivatives of their NFTs in a permission-less way, those tokens can be transferred and traded on DEXes right away. You can also swap your NFT for any other NFT of the same pool, no need to tokenize.
NFT20 also allows you to own a fractional share of an NFT in the collection. For example, if you own 50 TTGD20 then it means that you own 50% of a Floor THETIGERSGUILD (the cheapest THETIGERSGUILD ).
What is an NFT20 Pool and what can you do with them?
The NFT20 Pool contains THETIGERSGUILD that other users have deposited and you can perform different actions on it using TTGD20 . TTGD20 is an ERC20 token created specifically for the THETIGERSGUILD NFT20 Pool and it can be traded on Uniswap.
Use cases for the NFT20 pool and TTGD20:
- You can deposit a THETIGERSGUILD into the pool for 95 TTGD20 tokens.
- You can use 100 TTGD20 tokens to swap out any THETIGERSGUILD in the pool.
- You can swap a THETIGERSGUILD with any other THETIGERSGUILD in the pool.
- You can buy directly using ETH from the pool.
- You can exchange your ETH for TTGD20 on Uniswap.
- You can exchange your TTGD20 tokens for ETH on Uniswap when there is enough liquidity.
Note: All THETIGERSGUILD are treated equally in the pool so you should only deposit THETIGERSGUILD that you think are common (i.e Floor THETIGERSGUILD )
We will go over each of the above use cases in more detail below.
1. Swapping a THETIGERSGUILD with another THETIGERSGUILD in the pool
- Select the “Swap NFT to NFT” toggle above.
- In “FROM”, select a THETIGERSGUILD from your wallet
- In “TO”, select that cute THETIGERSGUILD from the pool that you like better
Note: Unlike using TTGD20 , you can swap a THETIGERSGUILD in your wallet for another THETIGERSGUILD in the pool without the 5% fee and only pay a gas fee.
2. Depositing a THETIGERSGUILD into the pool
You can deposit a THETIGERSGUILD into the pool and in return, you will get 95 TTGD20 tokens. The remaining 5 act as a 5% fee and get distributed to $MUSE token holders.
3. Buying a THETIGERSGUILD from the pool using 100 TTGD20
If you click on the arrows between the “FROM” and “TO” fields, it will let you change the direction of the swap (just like Uniswap). Now you can swap 100 TTGD20 for a THETIGERSGUILD!
4. Buying a THETIGERSGUILD directly from the pool
There’s also a new feature where you can also directly buy a THETIGERSGUILD from the pool using ETH without dealing with TTGD20. The NFT20 platform will do all the Uniswap operations for you in 1 transaction. There’s a 5% fee to it but it might be more cost-efficient since you can save on gas fees.
5. Exchanging ETH for TTGD20 on Uniswap
Since TTGD20 is an ERC20 token, you can directly get it from Uniswap. You can also directly click on this link to access the TTGD20 Uniswap exchange page.
6. Exchanging TTGD20 to ETH
Similarly, you can exchange TTGD20 for ETH on Uniswap. The great part about this is that you do not need to look for a buyer (compared to OpenSea). Here’s the Uniswap link.
There will need to be enough liquidity in TTGD20 in order to perform this operation.
7. Provide Liquidity for TTGD20-ETH Pair
You can provide Liquidity to the TTGD20/ETH pair .
- Add liquidity to the Uniswap TTGD20/ETH pair. You will need to provide TTGD20 and ETH in order to do it.
How does the Floor Price and the token price of TTGD20change?
The Floor Price of THETIGERSGUILD on NFT20 and the token price of TTGD20 fluctuates with the buy and sell transactions.
If more people buy TTGD20 tokens, then the TTGD20 token price and the Floor Price (100 TTGD20 ) of a THETIGERSGUILD on the NFT20 pool go up. If more people liquidate their TTGD20 tokens for ETH, the price goes down.