PIKOSWAP

coconos (26)in #pikoswap • 2 years ago

Although this goal has been largely attained, cryptocurrency was created with the intention of promoting decentralization in the financial system. However, the largest exchanges in the crypto market frequently stray from this because they primarily function as centralized exchanges (CEXs) and rely on central authorities to manage user funds. More decentralized exchanges (DEXs) must now be introduced in order to usher in a new era of complete decentralization through an open-source ecosystem that implements peer-to-peer trading using smart contracts.

DEXs allow users to control all of their money while remaining anonymous, and they typically provide a superior trading experience, which explains why they are gaining popularity in recent years. PIKOSWAP is one of the Automated Market Maker (AMM) DEXs that more cryptocurrency fans are embracing nowadays.

AMM, a type of decentralized exchange protocol, is now causing a stir in the cryptocurrency sector for the right reasons. AMM uses a mathematical formula to price digital assets rather than the conventional order book used by centralized exchanges. By leveraging liquidity pools in opposition to the conventional market of buyers and sellers, they enable permissionless and automatic trading of digital assets.

In the course of this article, I will be discussing about Pikoswap which is a complete on-chain NFT AMM.

WHAT IS AN NFT?

An NFT stands for a non-fungible token, which is a unique, one-of-a-kind asset that is stored on the blockchain. NFTs allow us to tokenize various physical and digital assets, assign ownership, and verify for authenticity.

NFTs can represent both physical and digital assets, however, they are most commonly found in the form of digital assets. Digital assets, such as digital artwork, music, videos, memes, selfies and even digital land are some examples.

Creating an NFT is done through a process called minting, which means turning an asset, such as a piece of digital art, into a token that will be secured on the blockchain. This allows it to be available for purchase on an NFT marketplace. Minting can be done at a fee, which is paid through cryptocurrency.

WHAT ARE ON-CHAIN NFTs?

On-chain NFTs are tokens completely written on the (Ethereum) blockchain, implemented with metadata and smart contract both existing on the blockchain. Basically, the “information” of these NFTs are all written on the mainnet, and this information is then stored on the blockchain. This information also includes things like the transaction hash of the generated NFT, which makes it even more unique.

The metadata of NFTs is its core information. Such things as the NFT’s unique traits, where the digital copy is stored, the description of the NFT, and much more. This metadata is integrated with the on-chain NFT itself, so this “information” lives on the blockchain as well.

ABOUT PIKOSWAP

Pikoswap is a completely on-chain NFT AMM (Automated Market Maker). You can trade NFTs freely and flexibly, or build your own NFT liquidity pool and earn trading fees.

On the Pikoswap, you can one can either buy NFTs, sell NFTs, or even create NFT liquidity pool to earn trading fees.

UNIQUE FEATURES OF PIKOSWAP

Below are some the unique features of Pikoswap, they include:

Supporting Bulk Buying Across Pool: It supports bulk buying across the pools, thereby optimizing the prices and also save gas fees.
Create NFT Liquidity Pool to Earn: if you own both NFTs and tokens, you may want build a pool to deposit your assets for others to trade. You’re the owner of the pools and earn all the trading fees.
Lower Trading Fees: There’s 0% NFT Royalty and also lower trading fees
Flexible Orders: On the Pikoswap, You can either buy or sell NFTs instantly with existing pools, or create your own pools with a custom price range.

There are certainly two ways one can buy NFTs on Pikoswap,

• Buying directly: You can buy NFTs directly from the existing collections. You can also choose to buy single NFT or buy in bulk.

• Making an offer: When you can’t find the NFT you want, or when you don’t like the prices, you can make a collection offer.

If you which to sell your NFTs, there are also two ways you can sell your NFTs. They are:

• Sell directly: On the Pikoswap, you can sell NFTs directly to existing pools which has the best possible price.

• Making a List: On Pikoswap, you can also make a list of your NFTs, and set the price that you want while waiting for a buyer.

Difference Between Sell directly and Making a List

When an NFT is been sold on Pikoswap, it is immediately sold to the pool for the best possible price which means that you complete the sales and get the token immediately. While for Making a List, you can make a list on Pikoswap, and set any price of your choice but will have to wait for a potential buyer to buy the NFT.

CONCLUSION

On Pikoswap, it is very easy to buy and sell NFTs. Also, you can deposit or withdraw the NFTs in your pools whenever you need.

For more information about Pikoswap, please visit the following websites:

Website: https://www.pikoswap.io/

Picoswap Doc: https://pikoswap.gitbook.io/docs/

Twitter: https://twitter.com/PikoSwap

Telegram Group : https://t.me/pikoswap

Discord: https://discord.gg/yY2q2yjSVR

YouTube: https://www.youtube.com/channel/UCBPV3Zy9yB-WJqRoouLl2gQ/videos

Bounty Campaign: https://bitcointalk.org/index.php?topic=5413029.0

Author:

Bitcointalk Unsername : Monkeybut