PIKOSWAP - On-Chain NFT Automated Market Maker for Easy Trading of NFTs

in #pikoswap • 2 years ago

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Introduction

Pikoswap is a unique user-friendly platform for buying and selling Non-Funginle Tokens (NFTs). Pikoswap, a completely on chain platform, makes use of Automated Market Maker (AMM) to facilitate the easy trading of NFTs. Just like Uniswap is for Ethereum tokens, so is Pikoswap for NFTs. Pikoswap is a unique innovation in the crypto space and particularly to the NFT industry. You can buy NFTs, sell NFTs as well as create liquidity pool for NFTs and earn trading fees. Pikoswap functions with zero NFT royalty and lower trading fees, making it easy and affordable for cryptocurrency and NFT fans.

You can carry out bulk buying across the pools, adjusting the prices and save your gas fee. Users can buy or sell NFTs instantly with existing pools or create your own pools with a custom price range, thereby, allowing users to make flexible orders. Just like Uniswap or Pancakeswap with respect to ETH or BSC tokens, users can make good income by creating NFT liquidity pool to earn from the platform. For example, you can build a pool to deposit your assets for others to trade if you own both NFTs and tokens. In which case you are the owner of the pool and as such you earn all the trading fees. Pikoswap is simply a unique innovation in the NFT industry, an outstanding novelty in the crypto space. $PIKO is the native token of Pikoswap.

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Why Pikoswap Makes a Difference Among Other Trading Platforms
Currently, most cryptocurrency platforms that offer trading facility in the NFT space do not offer the unique features obtainable on the Pikoswap platform. Most decentralized exchanges only offer the ability of swapping tokens which are built in BSC chain, ETH chain or other networks. Features, such as swapping, only exist for the ordinary tokens we are familiar with. Basically, we know fungible tokens to be tokens that are tradable for each other, and their value remains constant. For example, Bitcoin is a fungible token because it has the same value regardless of its owner or history.

On the other hand, Non-Fungible Token is a special cryptographically-generated token that uses blockchain technology to link with a unique digital asset that cannot be replicated. Non-fungible tokens differ from popular cryptocurrencies such as Ethereum(ETH), Bitcoin (BTC), etc. which are fungible; for example, you can exchange one Bitcoin for any other Bitcoin. But ordinarily, you cannot do so with NFTs.

Non-fungible tokens bring a new dimension to digital interactions. Presently, NFTs have some unique advantages over ordinary or fungible tokens, for example, they: (a) are transferable: unlike exchange-traded fungible tokens, NFTs are bought or sold on special marketplaces. However, their value depends on their uniqueness, (b) are authentic: blockchain technology powers non-fungible tokens, so you are rest assured that your NFT is genuine, since it’s nearly impossible to create counterfeits with a decentralized immutable ledger, ( c) preserve ownership rights: NFT uses decentralized platforms where no owner can alter the data once committed.

Currently, NFTs, or non-fungible tokens, have tons of use cases: gaming, art, even yield farming. Pikoswap recognizes the uniqueness of NFTs in the crypto space and have devised a distinctive way to trade it unlike other platforms. Features to swap Non-Fungible Tokens are yet to be incorporated in most popular cryptocurrency decentralized exchange platforms as well as popular NFT market places.

Most of the NFT trading platforms and marketplaces have experienced fraud when transferring NFT from one person to another. Being aware of security issues on the NFT space, Pikoswap have taken extra-ordinary measures to ensure security of users on the platform. Pikoswap have spent over $200,000 in security in efforts to create a truly innovative decentralized protocol. This shows how serious and committed the team are to ensure security and safety on the platform. They have actually created the Pikoswap Bug Bounty Program — a highly incentivized bounty with a maximum payout of $1,000,000. Pikoswap bug bounty program rewards anyone who is able to find a security issue or critical vulnerability within their codebase.

Pikoswap have come to change the narrative in the NFT space and indeed the crypto industry by the innovative swap mechanism for NFTs making it stand out among other trading platforms and market places.

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Unique Features and Benefits of Using Pikoswap NFT trading Platform
Automated Market Maker in the NFT Space: Pikoswap have deployed smart contracts in the business of buying and selling of NFTs which enhances security in transfering, buying or selling NFTs, unlike other platforms that use auction format in buying and selling NFTs. Pikoswap makes use of Automated Market Maker (AMM) to enable the easy trading of NFTs. An automated market maker (AMM) is a system that automatically facilitates buy and sell orders on a decentralized exchange. In contrast to regular market makers, AMMs function by using self-executing computer programs, also known as smart contracts.

Flexible Purchase of NFTs: Pikoswap enables users to make choice of NFTs as there are variety of NFT collections displayed for sale on the platform. Users can buy NFTs basically in two ways: you can Buy Directly or Make an Offer. When buying directly, you can choose from the existing collections or choose to buy single NFT or buy in bulk. You can make an offer when you did not find the NFT you want or you are not okay with the price. In such instances, Pikoswap enables users to make a Collection Offer, which implies building a new-buy-only pool adjusting your own pricing based on your own factors.

Ability to Provide Liquidity Pools: Pikoswap enables users to create liquidity pool for NFTs and earn trading fees. There are various types of pool that can be created at Pikoswap. At the moment, Pikoswap only supports the pool with NFT/ETH assets. Users holding NFTs for this collection can swap them for ETH or swap ETH for NFTs. Basically, a pool contains certain amount of both assets, enabling users to swap back and forth between them. However, it’s also possible to create a pool with just one asset, meaning that users will only be able to buy that asset from the pool.

Generally, at Pikoswap, NFTs in a pool are a collection of similar quality and price. They are traded according to the transaction logic of the pool which are applicable to the price range. Three types of pools can be created at Pikoswap: Buy-only pool, sell-only pool and the combination of buy-only and sell-only pools.

User-Friendly Buying and Selling of NFTs: As earlier discussed you can buy NFTs by Buying Directly from the existing collections or Make an Offer. You can also sell NFTs in two ways on Pikoswap: You can (a) Sell directly or (b) Make a listing. You can sell the NFTs directly to the existing pools with the best price possible. When you sell an NFT on Pikoswap, it is immediately sold to the pools for the best price possible. This means that you complete the sale and get the tokens right away.

Listing NFT on Pikoswap enables you to set the price you want, and wait for someone to buy them. Basically, making a listing is the same thing as to create a Sell-only pool. When you make a listing, your NFTs will be escrowed into the pool you own. Anyone can buy the NFTs from your pool at the price you set. In case you change your mind, you can withdraw the NFTs or adjust the price at any time.

Ability to Offer Instant Liquidity: Pikoswap enables users to get instant liquidity for your NFTs, when you sell them. To achieve this feat, Pikoswap makes use of bonding curves to get the appropriate price for the NFT. This means that you will experience slippage, that is, you may get slightly less than market value for your NFTs. The more NFTs that is sold in the collection, the cost of the slippage gets higher which also means the lower the liquidity for the NFT collection. However, Pikoswap gives you the freedom to option for listing if you are not satisfied with the price you get when you want to sell directly. You can list the NFT and wait for an opportunity for someone to buy them.

Predictable Buying and Selling in NFT pool: In order to achieve fair pricing of NFTs, Pikoswap adopted a unique mathematical approach — Bonding curves. Bonding curves enables pricing of NFTs in every pool to be well calculated and applied in the pricing. Pikoswap has applied two Bonding Curves, LinearCurve and ExponentialCurve. The pricing of NFTs are predictable beccuase the Bonding curves make the NFTs in the pool only move within the predetermined Price Range.

Users who create pools on the Pikoswap platform have to make a choice of the Bonding curve they intend to use. The pool consults its bonding curve to determine what its new price should be when a user trades with the pool.

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Tokenomics

$PIKO is the native token of Pikoswap. The economics of $PIKO is currently under development. At the moment, Pikoswap only supports pool with NFT/ETH assets. Users holding NFT collection can swap them for ETH or swap ETH for NFTs. You can deposit and withdraw NFTS in your pools as well as deposit or withdraw ETH in your pools.

Conclusion

Pikoswap is an outstanding innovative platform that have impacted the crypto space and particularly to the NFT industry by designing a unique user-friendly platform for buying and selling Non-Fungible Tokens (NFTs). Pikoswap makes use of Automated Market Maker (AMM) to facilitate the easy trading of NFTs. The availability of AMM makes it possible to swap NFTs to Ethereum and vice-versa. Trading of NFTs at Pikoswap is fast, flexible, secure and with low fees. This is indeed a unique platform among other decentralised exchanges. Pikoswap, a completely on chain platform, enables users to buy NFTs, sell NFTs as well as create liquidity pool for NFTs and earn trading fees. Pikoswap functions with zero NFT royalty and lower trading fees, making it easy and affordable for cryptocurrency and NFT fans

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

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#nft #piko #blockchain #crypto #erc20
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