Thread by @OlimpioCrypto

Airdrop Strategy: TheKraken 🐙

There's a new NFT AMM player in town: @sudoswap

No token yet, but $SUDO coming 🪂

• it works with liquidity pools
• you add liquidity (NFT/ETH)
• earn trading fees
• place limit buy/sell orders

A breakdown: how it works and how to try it 🧵

1/15

Sudoswap, by @0xmons and team, was born as an OTC tool for NFT trading. Built on top of 0x protocol.

You can still use the old product: otc.sudoswap.xyz

We are here, though, to talk about the new sudoAMM. It supports concentrated liquidity provision for NFTs.

2/15

Sudoswap is planning on releasing the $SUDO token.

Details about this at the end of the thread

3/15

What are the advantages of Sudoswap AMM?

• 0.5% fees that go to Sudo Treasury (0xb16c1342e617a5b6e4b631eb114483fdb289c0a4) - eclipsing to Opensea's 2.5%

• On-chain marketplace: true decentralization, no censoring

• Automatically adjust selling price as price goes up

4/15

How does it work?

On a sudoAMM pool, a user can:

• Deposit ETH to get NFTs
• Deposit NFT to get ETH
• Deposit both ETH and the NFT to earn trading fees

The bonding curve can be chosen when creating a pool

5/15

Let's do a demo: NFT buy and liquidity provision 💀

We will use based ghouls pool, which has a lot of liquidity (TVL): sudoswap.xyz/#/browse/buy/0…

https://twitter.com/BASEDghouls/status/1554346146620899328

6/15

"Floor price" lists all NFTs for sale, with their prices

If you scroll down, you will see that the NFTs have different prices, these are price ranges set by the users

Let's buy one

7/15

"Best offer" is the algorithmically determined bid that you can market sell an NFT. The ETH is taken from the pool: i.e. the TVL

I could market sell my GHLS at 0.219 ETH, and this would cause the Best Offer to go down

8/15

Adding liquidity

Now that we have a GHLS, let's provide liquidity

Existing pools are here (browse): sudoswap.xyz/#/browse/pools…

To add liquidity, create a pool: sudoswap.xyz/#/pool

9/15

Creating a pool

1. Fee to charge on swaps
2. Starting price that I list GHLS
3. Delta: the relative increase/decrease in price as the pool is used (exponential curve)
4. How many GHLS will my ether buy
5. How many of my GHLS will sell

I will deposit: 0.219 ETH and 1 GHLS

10/15

Note that this is a testing pool, your delta probably should not be that high (pools usually use 1-5%)

Now our pool is ready!

You can leave it there to trade, or withdraw anytime.

sudoswap.xyz/#/pool

11/15

Listing NFTs

You can list NFTs at the same price and set the delta increase every time there's a sale

Imagine you list 10 @PoolyNFT @ 0.20, with an increase of 0.01

When the first one sells @ 0.20, the 9 other's prices will auto-change to 0.021

sudoswap.xyz/#/inventory

12/15

Depositing only ETH

You can also create single sided pools with just ETH - to buy NFTs at a certain price

sudoswap.xyz/#/create

13/15

$SUDO Token

It was confirmed on their blogpost blog.sudoswap.xyz/announcing-sud…

There is speculation that $XMON holders (the token for the xmon NFT project, from the same founder @0xmons) will get a share

In the last 20 days price went from 5k to 30k

*I wouldn't buy this token*

14/15

Airdrop talk

They have *not* talked about any airdrop, but @0xmons confirmed that NFT holders will get $SUDO (floor price is 20 ETH) opensea.io/collection/0xm…

* I wouldn't buy the NFT *

For me, best bet is to test out the protocol 🪂

https://twitter.com/0xmons/status/1509640181913042959

15/15

Olimpio Announcements:

1. Join our Airdrops discord: discord.gg/earndrop
2. Please report this mfer impersonating me: @olimpiocryptoo
3. Give the first tweet a like, for the bird algo 🤖🐦

⚡️

https://twitter.com/OlimpioCrypto/status/1557094958150176780