Goat Swap Brings AMM to Solana NFTs: Create Pools and Trade NFTs Automatically

With GOAT Swap, you can automatically buy, sell, or trade NFTs or sell your NFTs to any pools with offers.

With GOAT Swap, you can automatically buy, sell, or trade NFTs or sell your NFTs to any pools with offers.

Making NFT Trading Much Easier

Jupiter Aggregator co-founder brings GOAT Swap, an Automated Market Maker (AMM) for Non-Fungible Tokens (NFTs), which allows users to generate fees on liquidity like Magic Eden.

“I think the NFT AMM model will dramatically change NFT trading on Solana. For the first time, you have automated buying and selling against a price curve,” Ben Chow, founder of GOAT Swap, told Web3Wire. “This is going to make trading so much easier for those holding a lot of NFTs, increase NFT liquidity for all holders, and facilitate NFT arb trading.”

With GOAT Swap, you can set the prices and trading fees on your NFTs. Additionally, you can create pools to automatically buy, sell, and trade NFTs.

The pool, or liquidity pool, is a smart contract that instantly allows you to exchange assets. The most common pool on GOAT swap is an NFT<>SOL pool, in which anyone holding an NFT from that collection can exchange it for SOL.

For example, if you go to the GOAT swap site and check out the “Collections,” you will probably see the following:

Let’s go with the ‘Dippies’ NFT collection, where you can view three options Buy, Sell, and Pools above. You can buy any NFT from the Buy section or sell any NFT you have in the Sell section. But when you will head over to the Pool section, you will see that there are both one-sided pools (NFT > SOL and SOL>NFT) and two-sided pools (NFT< > SOL):

Is GOAT Swap Just an ElixirNFT Copy?

There have been some questions about whether GOAT Swap is the same as ElixirNFT since both seem to do the same thing.

But there are differences between both, as Ben Chow explained:

“ElixirNFT has a different model than ours. While they are community-owned, they are not permissionless. You must also abide by whatever fee structure they have determined. If you want to build an iPhone and you’re not Apple, tough luck, but anyone with the know-how can build an Android phone, and that’s why you see so many more of them. Similarly, on GOATswap, if you want to trade any NFT, you can create a pool to do so and set your own fees.”

In spite of the pros and cons of each approach, the founder believes there is more opportunity in “empowering any NFT holder to become a liquidity provider and earn fees like any other marketplace.”

Source : bsc.news