Advanced Pool
Last updated
Last updated
Liquidity providers can now specify the group of NFTs they want to trade against — the pool filter.
User will interact with filtering functions (by traits, or other attributes) on Collection’s interface.
The list of corresponding NFT tokenIDs will be hashed using our opensource library into a Merkle Root filter. (This list of NFTs (the allowedSet) is different from the NFTs put into the pool (the actualSet). The actualSet is a subset of the allowedSet.)
After depositing their assets, they can proceed to set parameters such as fees, bonding curve, delta and royalty.
Traders who want to trade against the liquidity in the pool will need to provide a proof (again from our opensource library, which we automatically calculate in our frontend) to buy or sell against the pool. The proofs guarantee only NFTs meeting the specific sub-criteria can enter the pool through the buy or sell functions.
For example, Alex decides to create an Advanced Pool for Golden Azuki. Using Collection.xyz, he filters all Golden Azukis for the pool he wants to trade against. He then proceeds to deposit his own Golden Azuki into the pool and set the parameters accordingly.
The pool is now live, and other traders can buy the Azuki at the set-price. For traders who own a Azukis, only Golden Azukis can be sold into the pool (based on requirements created when setting up the pool).
The example above is used specifically for 2-sided Advanced Pool.
It is pivotal to understand the concept that the group of NFTs you select in the UI at the point of pool creation, and hence trading against, is not the same as the NFTs you have to deposit into the pool. After customizing the pool, you have to choose which NFTs to deposit.
Note: Currently the DApp interface will help you add the tokenIDs into the pool filter if you happen to choose any tokenIDs from your wallet that you did not add into the filter earlier in the customization process.
