What Is Sudoswap?
Sudoswap is a minimal, gas-efficient automated market maker (AMM) protocol that enables users to perform NFT-to-token swaps and vice versa. The platform supports ERC721 and ERC1155 NFTs and all ETH and ERC20 tokens. Liquidity providers can deposit assets into different types of pools and capture trading fees.
Background
An anonymous founder, Owen, founded Sudoswap in 2020.
How It Works
The protocol was developed to facilitate the trading of NFTs, similar to how tokens are traded on Uniswap. Liquidity providers can deposit either NFTs or ETH (or an ERC20 token) into pools, and users can then buy or sell NFTs from these pools. The price for buying or selling changes based on each transaction, according to the pool’s bonding curve.
Users or liquidity providers deposit NFTs and ETH into liquidity pools, specifying whether they want to buy or sell NFTs and setting a starting price and bonding curve parameters. The protocol uses these pools to enable users to buy and sell NFTs. The cost for each transaction is determined by a bonding curve, which adjusts after every transaction. Sudoswap supports linear, exponential, and XYK (constant product) bonding curves.
Key Takeaways
- Sudoswap is a gas-efficient automated market maker (AMM) protocol that supports NFT-to-token swaps and vice versa.
- The platform supports ERC721 and ERC1155 NFTs and all ETH and ERC20 tokens.
- Sudoswap was founded by an anonymous founder named Owen in 2020.
- Liquidity providers can deposit NFTs and ETH (or an ERC20 token) into pools, and users can then buy or sell NFTs from these pools.
- A bonding curve determines the price for each transaction and adjusts after each transaction. Sudoswap supports linear, exponential, and XYK (constant product) bonding curves.
