What we do

We introduce a synthetic token that represents the price of the the NFT Collection. There are 3 participants in our system, namely the LP Creator, LP Remover and Trader.

LP Creator will deposit their NFT and a ERC20 native currency as a pair into our smart contract which will automatically mint synthetic tokens. LP Creators get to decide the initial price of these tokens/amount to mint. A new UniswapV2Pool will be created with native currency and synthetic tokens as a pair. The position minted will be returned to user in the form of LP tokens.

For liquidity providers to remove their liquidity, LP Removers' LP tokens must be burnt. LP Remover will deposit their LP tokens to our smart contract which will remove liquidity from the LPs UniswapV2 position. The native currency will be returned to the LP Remover, but the amount may be less or more than what they had first deposited. The synthetic token will also be burnt and the NFT will be returned to the LP Remover.

Traders would be able to purchase the synthetic token to have exposure towards the NFT collection without owning a whole NFT.

Diagram