DeGod-for-DeGod Swaps
Facilitating direct NFT swaps between users and the Project X vault.
Traditional NFT trading can be cumbersome, often requiring users to list their assets on marketplaces and wait for a buyer. The DeGod Swap feature aims to simplify this by allowing instant, peer-to-protocol swaps, enabling users to easily diversify their holdings or acquire specific DeGods with desired traits from the vault's collection.
Enhanced Liquidity
Instantly swap your DeGod for one in the vault without waiting for marketplace buyers.
Access to Traits
Acquire DeGods with specific traits or rarity by swapping with the diverse collection in the vault.
1. Selection & Proposal
Users can browse the DeGods available in the Project X vault and select one they wish to acquire. They then propose a DeGod from their own collection to swap. The interface provides tools to filter vault DeGods by traits or other characteristics.
2. Value Assessment & Balancing
To ensure fair exchange, both the user's DeGod and the selected vault DeGod are assessed based on current market indicators, including floor price and trait rarity. If there's a value discrepancy, a balancing payment in SOL may be required:
- If the user's DeGod is valued lower, the user may need to add SOL to complete the swap.
- If the user's DeGod is valued higher, the protocol may compensate with SOL, subject to DAO-approved limits.
The system will clearly indicate any required balancing payment before the swap is finalized.
3. Swap Fee
A nominal flat fee of 0.5 SOL is applied to each DeGod-for-DeGod swap. This fee contributes to the protocol's revenue, supporting vault expansion, operational costs, and staking rewards, as detailed in the Revenue Streams section.
4. Execution
Once the terms are agreed upon and any balancing payments are settled, the swap is executed atomically via a smart contract, ensuring both NFTs are transferred simultaneously to the respective new owners.
- Atomic Transactions: Swaps are executed atomically, meaning both transfers happen simultaneously or not at all, eliminating counterparty risk.
- Smart Contract Mediated: All swaps are managed by audited smart contracts, ensuring adherence to predefined rules without intermediaries.
- Clear Value Display: The platform provides clear information on estimated values and any balancing fees before users commit to a swap.
For Users:
- Access a curated collection of DeGods from the vault.
- Opportunity to acquire NFTs with specific, desirable traits.
- An alternative liquidity venue for their DeGod NFTs.
- Fair value assessment for swaps.
For the Protocol:
- Generates revenue through swap fees.
- Allows for strategic curation and diversification of the vault's holdings.
- Increases utility and engagement for $XGODS token holders and platform users.
The Project X team is committed to continuously improving the DeGod Swap feature. Potential future enhancements may include:
- Batch swapping capabilities, allowing users to propose swaps for multiple NFTs at once.
- Integration with advanced analytics for trait valuation and rarity assessment.
- Support for swapping DeGods with other blue-chip NFT collections held by the vault (subject to DAO approval).