If you are hearing a lot of talk about @sudoswap and are still wondering what it is and how to use it take a look at this THREAD below. People are making great returns on NFTs which are actually trading like alts, I think this is just the beginning...

I have been experimenting with Sudo Swap for the past few weeks and think it is really interesting. I have mentioned that $XMON (one of my largest holdings) is effectively the proxy exposure to Sudo Swap and the incoming $SUDO token.

$XMON has been one of the best performers from the bottom with roughly a 15x move... at $112m market cap I think it could probs continue (if macro/wider markets allow continuation). NFA I am an idiot...

@sudoswap is beginning to really pick up traction all metrics are up and to the right... this is the most interesting to me... Sudo flipped Looks and is now gaining market volume share at present around 20% to that of @opensea OS valuation came in at around $13bn... MAFFS

Sudoswap allows users to take illiquid jpegs and turn them into liquid digital art, kek. You can sell to users who are bidding at a certain price, buy and sweep floors at your ask price and even deposit NFTs and ETH as liquidity to take both sides of the trade and set your fee.

How does it all work? Let’s take a look at the UI and platform and this will all begin to make a little more sense. Immediately the 0.5% Sudo fee is 5x smaller than that of OS. Bear in mind each LP sets its own fee for trading in their pool more below...

Collections - Pretty standard, I like to use the Dune analytics board which is a little more in-depth. I can imagine more community tools are being built behind the scenes. Credit:

Best offer - This is interesting. You can make individual offers on Opensea but when using Sudo you can effectively place a limit order on a collection. Stay with me because this is really useful.

Let’s say an NFT launch has just happened and the hype has driven a price up way too hot. Let’s say it is a 3 ETH floor price and you are willing to pay 2 ETH.

You can deposit 2 ETH or a multiple of that and say to Sudo swap. If the floor price hits 2 ETH per NFT buy me x amount. You need to deposit the ETH and allow tell it you have x ETH and are willing to buy x amount of NFTs.

The same is true on the other side of the trade. If you picked up a free mint or a project early and you want to place a limit sell order you can create a pool, name your price, and how many you want to sell when the bid price reaches your ask.

How to create a pool - So, as I described above. You can deposit tokens and/or NFTs depending if you want to buy, sell or provide liquidity for a specific project.

Buy NFTs with Tokens - Select your starting price to buy a specific NFT project. Deposit ETH. You can effectively set the limit order here. If a project's floor price is 1 ETH and you want to pay 0.8 ETH you can use this as your start price.

Sell NFTs for Tokens - List your NFTs, name your start price, and set a delta (how much the price should move each time 1 NFT is bought from your pool). This is effectively a limit sell order.

Provide ETH and NFTs as liquidity - Deposit ETH and NFTs, set a starting price, name your trading fee, choose your delta and specify how many NFTs you want to buy and sell with your deposited ETH and NFTs. This may take some tweaking to get an optimal pool.

You can check other users' pools by selecting a collection and hitting pools. This will show the other liquidity pools for that collection and their parameters.

Bonding Curve parameters - Linear or Exponential - Linear increases in each purchase will increase the buy or sell price by a specific amount of ETH. Exponential increases by a % each purchase.

You also set your fee i.e. your commission for providing both NFTs and ETH as liq to the market. This sets a free market for traders as different pools may have more optimal prices, fees, liquidity and deltas. Again see the 'pools' tab.

I'm kinda seeing a meta emerge in that Sudo is allowing NFTs to list directly on the platform ideally with NFT and ETH liquidity and then the collection turns into a highly traded limited token market. I think there is something here... maybe I am wrong.

I have probably missed a load of stuff off here but I suppose the best way to get to the correct answer on the internet is to provide the wrong one and have people correct you. See below:

Anyway, pump my $XMON bags you degenerates and if you have any strategies you find interesting on Sudo, let's chat! I mentioned $XMON and Sudo in our free newsletter around 4 weeks ago so if you want more juicy info sub below:

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