NFTPool.Exchange
Uniswap style AMM pools for ERC-1155 NFTs and USDC Pairs to make NFTs more liquid and instantly buy/sell by removing orderbook system
Project Description
There is a major problem of insufficient liquidity in the NFT space. Most NFT marketplaces still rely on old Order-based systems which are not efficient, especially in the decentralized world where AMMs have taken over as evident by the success of Uniswap, Sushiswap and more.
ERC1155 can be termed as semi-fungible as their quantity is not limited to just 1 making them perfect to be put in an AMM pool that we have all become familiar to.
With NFTPool.Exchange it is possible to deploy new NFT pools, provide liquidity and instantly swap between NFTs and USDC using the formula x*y = k. Liquidity providers earn 0.3% fees on the trades.
This opens up exciting opportunities where these LP tokens can be used in Yield farming and bootstrap deep liquidity for ERC1155 NFTs which is currently not possible efficiently.
How it's Made
I dived into the codebase for Uniswap to understand their logic and how that can be applied to NFTs instead of ERC20s.
I focused mostly on the smart contracts the entire time and quickly had to hack together a frontend before the presentation. I used material UI with react to help me achieve this in fastest time possible.
