Introducing @SujikoProtocol: a next-generation decentralized NFT trading platform 🍣
There's (almost) no way to short any NFT collection. That's about to change.
Here's a quick overview of what you need to know 🧵
There's (almost) no way to short any NFT collection. That's about to change.
Here's a quick overview of what you need to know 🧵
1. What is Sujiko?
It's a decentralized perpetual exchange that supports perpetuals that track the index price of NFT collections. Up to 10x leverage (dependant on the collection), low swap fees and low slippage.
It's a decentralized perpetual exchange that supports perpetuals that track the index price of NFT collections. Up to 10x leverage (dependant on the collection), low swap fees and low slippage.
2. For the first time ever, you will be able to short major NFT collections 🤯
As a user, you can:
- Trade any listed collection up to 10x leverage
- Earn passive income (via fees) by providing liquidity
- Place a mix of order types (market/limit/stop market)
As a user, you can:
- Trade any listed collection up to 10x leverage
- Earn passive income (via fees) by providing liquidity
- Place a mix of order types (market/limit/stop market)
3a. How does it work?
Sujiko uses a hybrid combination of peer-to-pool between traders and stakers, and peer-to-peer between traders.
There are 4 major versions for Sujiko planned to explore multiple liquidity mechanisms. Let's explore.
Sujiko uses a hybrid combination of peer-to-pool between traders and stakers, and peer-to-peer between traders.
There are 4 major versions for Sujiko planned to explore multiple liquidity mechanisms. Let's explore.
v1 features our global vAMM, support for USDC collateral, and isolated margin.
v2 introduces a decentralized orderbook & support for cross collateral, starting with SOL.
v3 introduces support for cross margin.
v4 introduces synthetic slippage & JIT auctions for taker orders.
v2 introduces a decentralized orderbook & support for cross collateral, starting with SOL.
v3 introduces support for cross margin.
v4 introduces synthetic slippage & JIT auctions for taker orders.
4. Problems to solve
Before being production (or mainnet-beta) ready, there are a number of problems to solve.
a) Managing risk for long-tail assets and listing criteria
b) Reliable pricing
c) Predictable slippage and funding rates
d) Position limits per market/user
Before being production (or mainnet-beta) ready, there are a number of problems to solve.
a) Managing risk for long-tail assets and listing criteria
b) Reliable pricing
c) Predictable slippage and funding rates
d) Position limits per market/user
5a. Why would anyone want to trade on Sujiko?
a) Sujiko will be the only platform to let you short or long NFT collections from a single venue.
b) Sujiko is a designated on-chain market maker that will never pull liquidity. Pricing is always transparent.
a) Sujiko will be the only platform to let you short or long NFT collections from a single venue.
b) Sujiko is a designated on-chain market maker that will never pull liquidity. Pricing is always transparent.
5b. Why would anyone want to trade on Sujiko?
c) Takers can swap risk asynchronously (long OI doesn’t have to = short OI), meaning liquidity is always present.
d) You can trade fractional sizes at the exact oracle price (many fractional pieces trade at a negative premium).
c) Takers can swap risk asynchronously (long OI doesn’t have to = short OI), meaning liquidity is always present.
d) You can trade fractional sizes at the exact oracle price (many fractional pieces trade at a negative premium).
6. The Warriors 🥷🏼
We are launching the Sujiko Warriors collection.
Holders can:
- get early access to Sujiko and all SolWorks projects
- earn fees from trades on Sujiko
- stake to level up their Warrior for trait upgrades and [REDACTED]
Apply now 👇
sujiko.dev
We are launching the Sujiko Warriors collection.
Holders can:
- get early access to Sujiko and all SolWorks projects
- earn fees from trades on Sujiko
- stake to level up their Warrior for trait upgrades and [REDACTED]
Apply now 👇
sujiko.dev
7. What's next? 🔮
Sujiko Scholarships - a custom WL process inspired by @Y00Ts.
Litepaper.
UI preview.
SDK release.
Devnet.
Follow us to stay updated @SujikoProtocol and get ready for a new wave of DeFi & NFT trading 🪄
Sujiko Scholarships - a custom WL process inspired by @Y00Ts.
Litepaper.
UI preview.
SDK release.
Devnet.
Follow us to stay updated @SujikoProtocol and get ready for a new wave of DeFi & NFT trading 🪄
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