banner

Advertisement

NFTX Aims to Spike Liquidity with New Release

The second version of NFTX  is designed to refine one of the core needs in the NFT market — liquidity.  NFTX has long served as a liquidity hub for people who want to buy and sell the cheapest NFTs from any given collection (ie: the lowest-value Cryptopunks).  Zombie Punks Now the V2 will simplify NFTX’s …

NFTX Aims to Spike Liquidity with New Release

The second version of NFTX  is designed to refine one of the core needs in the NFT market — liquidity. 

NFTX has long served as a liquidity hub for people who want to buy and sell the cheapest NFTs from any given collection (ie: the lowest-value Cryptopunks). 

Zombie Punks

Now the V2 will simplify NFTX’s original, multi-layer NFT index fund model, instead focusing on simpler funds (which they now call vaults). This change is intended to solve liquidity and arbitrage issues arising from users combining multi-layer funds. Among the features: one vault per collection (ie: one single vault for all CryptoPunks instead of multiple vaults for Basic Punks, Zombie Punks, etc.). NFTX v2 will also emphasize yield-generation for liquidity providers, who can capture protocol fees by staking SushiSwap LP (SLP) tokens on NFTX.

Get Smarter on DeFi and Web3

Get the 5-minute newsletter keeping 80K+ crypto innovators in the loop.

Moreover, NFTX v2 will allow users to redeem specific NFTs from vaults against a 5% premium. This was not an available feature in NFTX v1, which only allowed users to redeem random NFTs from any given vault.

Don’t get too excited. NFTX v2 is still in its beta stage, and is not encouraging migration until the protocol code is further reviewed.

Get Smarter on DeFi and Web3

Get the 5-minute newsletter keeping 80K+ crypto innovators in the loop.