Introduction

Midaswap protocol is a liquidity protocol designed for NFTs. We utilize an innovative NFT Liquidity Book Automated Market Maker (AMM) algorithm that allows users to create trading pairs with any NFT and FT tokens while preserving the unique properties of NFTs. Users can earn Liquidity providers (LPs) Tokens that can be utilized in DeFi compositions.

Lower Fees

Midaswap is a decentralized NFT Marketplace where traders buy and sell NFT counterparties with a pool, with higher transaction efficiency and lower gas costs than Opensea and Blur. Midaswap's trading fee is only 0.5%, which is lower than Opensea's 2.5%. Averagely, buy/sell one NFT in Midaswap will cost ~20k gas. For comparison, Blur is ~27k and Sudoswap is ~13k.

Higher Efficiency

As Opensea can sweep 30 NFTs at a time, Blur can sweep 50 NFTs at a time, and Midaswap and Opensea Pro can both sweep 100 NFTs at a time. On Layer2s, you can sweep 1000 NFTs at a time with Midaswap.

Single-sided Liquidity

Users can become LPs by providing any number and variety of NFTs or Tokens, rather than providing bilateral assets as most AMMs do. This means that users only need to provide NFT or Token, then select the corresponding NFT-Token trading pair and add liquidity to become LP. LPs can get the SWAP fee income of the NFT-token trading pair.

On-chain Royalties

Midaswap supports the on-chain royalty mechanism stipulated by EIP-2981. The NFT project parties can customize the royalty rate through EIP-2981. After the tax rate is set, the smart contract will automatically collect royalties according to the tax rate during the transaction process.

Permissionless

Midaswap is the NFT version of Uniswap V3, where users can create trading pairs for any NFT-FT assets, such as Bayc-ETH, Milady-PEPE, Axie-USDC, etc. Users can purchase NFTs with any asset by selecting any NFT and any Token in Midaswap‘s NFT-Token SWAP. For example, you can purchase Bayc with PEPE.

Different Rarity, Different Prices and One Trading Pair

Current NFT AMMs do not solve the problem of trading NFTs with different rarities in the same pool. Midaswap allows users to select their own price range when adding their own NFT to the liquidity pool of the corresponding trading pair, and each NFT of different rarities can be added to the same liquidity pool at a completely different price range. For example, Amy can select the price range of 18-20ETHs to add an Azuki with a lower rarity near the floor price to the Azuki-ETH trading pool, and Ben can also select the price range of 60-64ETHs to add an Azuki with a higher rarity to the Azuki-ETH trading pool. This not only fully respects the rarity characteristics of different NFTs, but also brings together these different rarity NFTs in a single trading pair, centralizing liquidity and optimizing the user experience.