DeFi

Sudoswap is a decentralized exchange (DEX) protocol that enables the trustless swapping of non-fungible tokens (NFTs) through an automated market maker (AMM).

sudoswap-homepage.png

sudoswap-pudgy-penguins-collection.png

bybit-trade-nft-cta.png

sudoswap-liquidity-pool-creation.png

sudoswap-liquidity-pool.jpeg

sudoswap-buy-nft.png

sudoswap-buy-nft-make-collection-offer.png

sudoswap-sell-nft.png

Even though decentralized exchanges like 

 have effectively made trading a smooth process, NFT marketplaces still haven’t caught up with the efficiency. Finding someone to trade NFTs with in NFT marketplaces is a slow and cumbersome process. Sudoswap aims to provide a user-friendly experience for traders by applying an 

With an AMM, users no longer have to wait for an offer, and they can trade NFTs instantly with others at a fair price as long as there’s liquidity. 

 (DEX) protocol that enables the trustless swapping of 

The protocol was launched in May 2022 by the developer behind 

, a human-AI hybrid NFT project of animated monsters generated by 

Sudoswap's launch of the NFT automated market maker (AMM) protocol 

 has cemented its position as a leading decentralized NFT marketplace. Just like Uniswap’s AMM, Sudoswap allows you to buy and sell NFTs from a liquidity pool instead of trading with other NFT holders.

Sudoswap can therefore offer several advantages over centralized NFT marketplaces, such as 

As an NFT AMM protocol, Sudoswap works by letting LPs deposit NFTs and/or ETH into liquidity pools. 

First, you choose to either buy or sell NFTs (or both), deposit your NFTs and/or ETH, and then indicate a starting price and 

There are three types of bonding curves that algorithmically set the relationship between price and supply in different ways: 

Next, you can trade NFTs from the pool and earn trading fees as people trade from your pool. Every time an NFT is bought or sold, the price of another NFT algorithmically changes for the pool, based on the selected bonding curve. You can choose to switch the pool parameters or withdraw assets at any time.

Since there are as many pools as there are LPs, users can search through the different pools to find their desired NFT at their preferred price.

The sudoAMM protocol is designed to be simple, fair and efficient, with users being charged a minimal transaction fee of 0.5% that’s allocated to the Sudo treasury. If you buy or sell in bulk, you can lower your gas fees, thereby further reducing costs.

Sudoswap makes it easy to buy and sell NFTs in a decentralized manner with its liquidity protocol, which enables buyers and sellers to connect and trade directly. Below, we outline the steps you can take to trade NFTs as well as provide liquidity on Sudoswap.

Sudoswap's liquidity protocol enables anyone to provide liquidity and earn rewards. Anyone can create buy-only, sell-only, or buy-and-sell pools.

 tab in the top right corner of the website. Click on 

 and select the type of pool you want to create.

Depending on the type of pool you create, the process will be slightly different. But generally, you simply have to deposit NFTs and/or ETH, select the NFT collection you wish to trade, and choose your preferred starting price, bonding curve and delta. 

The delta will be the percentage that ‘s automatically adjusted every time an NFT is bought or sold from the pool. So, if you set it at 5%, and someone buys an NFT from your pool, the price will decrease by 5%; and if someone sells an NFT, the price will rise by 5%.

Next, indicate how many NFTs you wish to trade, and then click on 

 after confirming that the details of your pool are correct.

If you’re simply buying and selling NFTs on Sudoswap, the process is even simpler. But first, you’ll need to connect your wallet. 

There are two ways to buy an NFT on Sudoswap. 

First, you can select a collection from the collections page. Click on 

 for the NFT you want to buy, then click on 

 you want to buy, the price you wish to buy at and, if you’re buying multiple NFTs, the price by which each subsequent purchase will decrease.  Then, click on 

 after selecting the NFT you want to sell. Then, confirm the transaction in your wallet to complete the sale.

The Sudo token will be the native governance token of Sudoswap. It will initially be made non-transferrable to ensure proper governance participation.

Sudoswap published information on the yet-to-be-launched SUDO token on 

. The initial quantity of SUDO tokens will be 60 million. At launch, 44.9% of the initial supply will be airdropped to XMON holders (41.9%), 0xmons holders (1.5%) and LP providers (1.5%).

XMON holders can take part in a lockdrop event, during which their XMON tokens will be locked for three months to collect their SUDO tokens. For every 1 XMON locked, 10,000 SUDO tokens will be released. Any SUDO tokens that go unclaimed will be returned to the Sudo treasury.

For traders seeking a low-fee platform with instant liquidity, Sudoswap is a perfect choice. However, it may not be the best option for creators looking to monetize their work, as it doesn’t offer royalties. Nevertheless, this unique decentralized NFT marketplace is a great platform for anyone looking to take advantage of the growing NFT market.

What Is Sudoswap? Trading NFTs Instantly With AMM

Get your daily dose of crypto and trading info