Sudoswap AMM — an AMM protocol for facilitating the exchange of NFTs (ERC721) for tokens (ETH or ERC20)б using customizable bonding curves. Liquidity Providers (LPs) can make deposits into one-way buy or sell pools or provide conditions for both parties to collect fees.
About the Sudoswap project
The building block of the Sudoswap protocol is the LSSVMPair, which can contain NFTs, tokens or both. End users interact with LSSVMRouter to switch between multiple pools and manage their claims under a single contrac.
Buying NFT:
| 1. | You can instantly buy NFTs on the bonding curve or make a collection offer for the seller to accept. |
| 2. | Go to the collections page and select a collection. |
| 3. | Select the NFTs you want to buy and confirm the transaction. |
Like other NFT protocols, the current sudoswap AMM protocol does not distinguish between different ERC721 identifiers. Pools that are willing to buy or sell NFTs will return the same price regardless of which NFT is sent from the collection.
What is the difference between selling and listing?
When you sell an NFT on sudoswap, it immediately sells into the bond curve at the best price possible. This means that you immediately receive the proceeds from the sale. When you list NFTs on sudoswap, you can set any price you want, but you have to wait until someone buys it from you.
Slippage gets worse the more NFTs you sell from a collection, or the lower the liquidity of that collection. If you are not happy with the prices you can get for selling, you should list the NFTs and wait until someone buys them.
What is a pool?
A pool or liquidity pool — a smart contract that allows you to switch between two assets instantly. In sudoswap, the most common pool type is NFT<>ETH. This means that anyone who owns NFTs from this collection can instantly exchange them for ETH or vice versa.
Pools use a linking curve to determine the relative price at which one asset is traded for another. The more an asset is bought from the pool, the more expensive it becomes. Conversely, the more an asset is sold to a pool, the cheaper it becomes. Ideally, the pool contains some amount of both assets, allowing users to switch between them. However, it is also possible to create a pool with only one asset, which means that users will only be able to buy that asset from the pool.