How to use the Bored Ape Yacht Club NFT20 pool
Bored Ape Yacht Club collecors deposit their NFTs and get $BAYC20(the ERC20 derivative of BAYC NFTs), they can use those tokens to provide liquidity on the BAYC/ETH Uniswap pool and earn $Muse or just speculate on the floor price of the collection
What is NFT20?
NFT20 is a permissionless NFT DEX with the mission of bringing liquidity to NFT projects and finding the right price for users, collectors and funds for investing into NFTs.
Once liquidity is added to Uniswap it allows collectors to buy and sell those NFTs with Eth in once click thanks to our novel protocol!
How does the $BAYC pool work?
Advanced users can deposit any BAYC NFTs into the pool and get 95 BAYC20 back (an ERC20 token), you can use BAYC20 to add liquidity on Uniswap and trade BAYC20-ETH.
You can deposit 100 BAYC20 back into the pool at any time and choose which NFT to redeem from the pool. The 100 BAYC20 you deposit gets burned. The BAYC20 tokens can be used for LP farming as described later
Normal collectors can just use the easy UI to sell or buy NFTs with ETH in one click on the home page.
How to Sell a rare BAYC?
It is advised to lock common NFTs into the general pool as you’ll get the same 95 BAYC20 tokens for all NFTs, no distinction.
If you have a rare NFT, you can create a dutch auction within the asset page and set your own price in BAYC20.
How to Get Back an NFT from the Pool
To get back an NFT from the pool you can deposit 100 BAYC20 at any time and get any of the BAYC available in the NFT20 pool.
You can also buy BAYC NFTs directly with Ether in one click from the pool:
How to farm?
How To Swap BAYC?
You can swap your BAYC for any of the BAYC on the pool at any time by paying only for the gas here’s a video on how to do it
Arbitrage with Uniswap and Opensea
Based on our past pools, there is a lot of arbitrage that can be done. The goal of the NFT20 pools is to create a price floor for common NFTs and make them liquid on Uniswap.
Think creatively and you might find some nice arbitrage opportunities.
Are there any fees involved?
When you tokenize an NFT the pool contract mints 100 tokens, 95 go to you and 5 go to our factory to be distributed to $MUSE holders.
There are no fees for swapping, or getting back a BAYC NFT from the pool.
Disclaimer: NFT20 is a permission-less protocol for creating liquidity to NFTs, we are not related in anyway with the BAYC team, our community members created the pool as a Chubbies fan.