As NFT holder, selling your favorite avatar is a PAIN with existing tools. You will have to set sell price and wait for buyers.
Worst case = you wait for weeks and keep being frontrunned by other sellers. 😢
On ABW you sell via smart contract at any time.
3/ Why buy on ABW?
Currently to get a hold of trending NFTs, you'll need to keep refreshing the browser until someone decides to sell their bag. If the price is cheap enough then you scoop it up.
NGMI 😔
ABW is a faster and cheaper way to bid for your favorite NFT collections
4/ 💪 So, how does ABW work?
There are two main parties:
🏷 Bidders. Lock ETH and bid for their favorite NFT collection. If matched, the locked ETH is exchanged for the matched NFT.
💰 Sellers. Match with the best price and instantly sell their NFTs to gain liquidity.
5/ 👏 Benefits of ABW:
- Sellers gain Instant access to liquidity.
- No slippage exchange.
- Orderbook is fully on-chain.
- NFT price floor discovery.
6/ @NFTX_ presents a solution to instant liquidity, but there are some drawbacks:
- High price impact (10%+) for claiming/selling NFT, e.g. PUNK.
- Supply-side requirements. If not many NFTs are locked, circ liquidity will be very low ➡️ very high slippage when trading.
7/ @fractional_art is another possible solution, but they also have issues:
- No instant liquidity. Fractional token holders need to vote on the reserve price before it can be sold.
- Single token. Each NFT is executed separately, and doesn’t solve the NFT floor price.
1/ 📖 Just read @Uniswap v3 whitepaper 🦄 and wanted to share some thoughts.
👀 There are some pretty neat tricks in the paper that we @AlphaFinanceLab also use. 👀
Thread below 👇
2/ Overall, 🦄 V3 is a huge upgrade from and much more complex than V2. V3 introduces:
👩💻 User Flexibility: Users can supply within a specified price range.
💻 Protocol Flexibility: Configurable swap fee & governance fee
💡 Features: Built-in TWAP & liquidity oracle
3/ The most interesting feature is that users can supply liquidity to any desired price range, which then enables the __Concentrated Liquidity__ feature, as advertised.
🤔 This is a challenge in terms of technical implementation, since gas limits may explode if done naively.
2/ Flash loan lets anyone borrow a very large amount of assets (as long as the amount + fee are paid back in the same transaction), which can be used to temporarily skew asset prices or balances.
3/ A typical flash loan attack pattern is a form of sandwich attack: (1) Skew price/balance (2) Main protocol uses the skewed price/balance (e.g. to open a position, deposit into AMM all at bad prices) (3) Un-skew price/balance