Uniswap dives deep down the NFT rabbit hole.
The automated market maker integrates the decentralized NFT marketplace Sudoswap to enable efficient NFT swaps when it launches its NFT platform.
The news was shared by Scott Gray, head of NFT product at Uniswap Labs.
The integration allows users to buy NFTs through the Uniswap platform while accessing the on-chain liquidity offered by sudoAMM.
sudoAMM
Sudoswap’s automated market maker sudoAMM was released on July 8th. Automated market makers enable automated trading of digital assets using pools of liquidity instead of a traditional marketplace that needs to match buyers with sellers.
sudoAMM allows users to create pools that buy or sell NFTs stepwise along price curves, provide liquidity to NFT pools to earn fees, and list their NFTs directly at fixed prices.
“Currently, the NFT market relies on centralized order books subject to downtime and centralization risks,” Sudoswap tweeted. “sudoAMM changes that by being fully on-chain. Anyone can get the same liquidity that the Sudoswap marketplace uses in its applications using only Ethereum.”
With Uniswap’s integration of sudoAMM, Uniswap doubles its NFTs. Last month, the company acquired NFT aggregator Genie.
Uniswap is the leading decentralized exchange with $1.09 billion in trading volume in the last 24 hours. It recently overtook Ethereum in terms of fees generated.
Sudoswap also plans to support ERC-1155 tokens, ERC-20 token routing and more novel binding curves and AMM management infrastructures in the future.
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