Collection.xyz Launches NFT DEX with 0% Protocol Fees

Edited by Nathaniel Cajuday

• The NFT liquidity incentive protocol collection launches a NFT decentralized exchange on the Goerli network.
• The DEX will use an automated market maker to allow users to buy and sell NFTs automatically based on any logic or strategy.
• DEXs will also have 0% protocol fees with a view to respecting NFT creator and artist royalties.

Collection, a non-fungible token (NFT) liquidity incentive protocol, has launched a decentralized NFT exchange (DEX) on Ethereum’s cross-client proof of authority testing network, Goerli. The DEX is expected to allow Collections users to collect NFTs based on token ID, trait, or rarity.

Additionally, Collection revealed that its new platform will allow users to trade NFTs through an automated market builder (AMM), which will allow its users to target individual tokens, groups, or entire collections.

“Free yourself from collecting only floor NFTs or manually managing your order book on the market,” tweeted protocol.

In addition, DEX will charge a 0% protocol fee for NFT traders wishing to directly buy and sell with created pools, as the protocol also allows liquidity providers to provide royalties to NFT creators. Collection also certifies that pool creators will be responsible for determining royalties for their pools.

“Collection.xyz’s new design solves a long overlooked challenge with liquidity pools excluding large amounts of NFTs traded at a premium to their collection floor… Combined with their incentive vault product, there is now a holistic liquidity solution for both creators and collectors,” Chris Sirise, Partner at Saison Capital, stated.

As a result, the protocol has also highlighted that they will enable integration with other protocols via the liquidity provider tokens of each pool to ensure the success of the ecosystem as a whole. According to them, the liquidity provider (LP) token can be staked in the liquidity incentive vault within their platform or used as collateral in other protocols.

According to its whitepaper, the NFT DEX codebase is still undergoing audits in preparation for its launch on the Ethereum mainnet, which is set for Q1 2023.

What is a Collection?

The collection is one of the key products of infrastructure startup NFT Gomu. This offers any individual with NFT and ETH tokens the ability to create a liquidity pool on the Sudoswap NFT DEX and receive a token representation of their holdings.

“We believe that the NFT DEX infrastructure is critical for the growth of the NFT industry in all market conditions… The unique features we are introducing with our launch, with advanced pooling, incentive vaults, royalties set by liquidity providers, and no protocol fees, will be a game changer for this industry.” Spencer Yang, core contributor to Collection.xyz and CEO of Gomu, concluded in a statement.

This article was published on BitPinas: Collection.xyz Launches NFT DEX with 0% Protocol Fee.

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