NFTX Weekly Round-up #32
Welcome to the weekly update of all things NFTX, along with a sprinkling of NFT news as well.
Let’s take a look at what has been happening over the past two weeks.
The big news is the launch of NFTX.io — our new Decentralized NFT Marketplace.
You can read more on the launch blog post, but the highlights include
- New domain, new homepage - now running on nftx.io and the homepage works as the app/gallery in one.
- One click Buy/Sell zaps - avoid minting NFTs to tokens and then selling tokens for ETH, or buying tokens for ETH and redeeming NFTs from the vault. Now you can do it instantly both ways with ETH.
- Coins page - review vault statistics, find prices, TVL and Buy/Sell the tokens.
The rest is the way you were used to the previous version working. The next steps are going to be overhauling the documentation to provide improved beginning walkthroughs and to cover off the new features.
New Vaults & Protocol Activity
There have been a few new vaults created over the past two weeks, and while you can see a full list of all the vaults here are a few select ones we’ve seen.
Toadz - The Cryptoadz vault kicked off this week with a solid 72 NFTs being dropped in and a healthy buy/sell price of 1.7/1.5 ETH. So far this vault has generated 1.67 tokens in fees within the week and is running at 62% APR.
AXO - The Axolittles vault had been running for a while but recently the community decided to start using it a bit more. In the past week, we’ve seen 137 Mints and 94 redeems, generating 7 tokens in fees for liquidity providers.
ETHS — The Ethereans vault was created earlier this week and has already claimed 1.1 tokens in rewards with a 56% APR.
FANG — The Fang Gang reached out on Discord for some help setting up this vault and it’s been a good start for them. So far there have been 6.6 tokens generated for stakers with an impressive 234% APR.
With regards to the protocol itself, we’ve seen good steady growth since our last update.
In the past two weeks, we’ve seen the same steady 120 — 300 NFTs minted each day, along with a combined random/target redeems around the same numbers.
Over the past 30 days there have been more than 1,166 users who have minted/redeemed at least 1 NFT, and this has gone on to generate $1.15M in fees distributed in vault tokens to all our liquidity providers.
Our most popular vault in terms of pure volume remains $PURR (Purrnelope’s Country Club) with almost 400 mint/redeems alone. The Top 5 vaults for volume include:
Vault Insight - PUNK
Last week we looked at how PURR was going as an overall vault through the data available on NFTX Dune Analytics, so this week we wanted to take a closer peek at our largest TVL vault this week.
$PUNK has been running since the start of NFTX in one shape or form. Initially, the floor vault was known as Punk-Basic, with the PUNK vault being a combination of 5 different punk vaults (basic, attribute 4, attribute 5, female, and zombie). Over the past two weeks, the number of NFTs in the vault has been going up and down one or two each day, with a few target redeems and mints recently that have paid out some valuable tokens to Punk stakers.
At the moment there are 109 Punks in the vault.
The TVL of the vault is sitting slightly at the $30.6M mark and has had more than 31k ETH in trading volume on the vault alone.
The vault has been great for Liquidity Providers as well, while only generating 3.85 vault tokens in fees that is the equivalent of 350ETH distributed to users staking their SLP.
The $PUNK vault has seen huge gains over the past 9 months in its different incarnations. The initial raise for the project allowed the vault to be bootstrapped with a good number of Punks, and because this was one of the vaults that received liquidity through the DAO it has continued to perform well as the price has gone from 4ETH through to 140ETH at one point at the end of August, and now settling around the 91ETH point.
If you would like to learn more about how NFTX can be part of your NFT launch and help secure you a stable liquidity pool for the floor price then reach out at firstname.lastname@example.org.
In the trenches
Each week we’re going to provide you with a quick update from each area of the team so that you can gain some insight into the work that is going on for the product.
- Built and launched an entirely new marketplace for https://nftx.io
- Added support for Coinbase Wallet
- Added EIP-1559 base/max fees on the zaps to ensure the transactions get into the next block. (As these transactions are at risk of failing due to price movement if users try and lower the gas, it now provides a warning in MetaMask telling them they shouldn't).
- Updated vault swap and marketplace zap.
- Implemented simpleFeeDistributor, the first step for single-sided staking.
- Removed airdrop rejections, discussed possibilities for airdrop distribution going forward.
- Added support for Palm, including deploy scripts.
- Ongoing tweaks to user feedback on nftx.io
- Started screens for single-sided staking flow
- Individual asset view
- Wrapping up final requirements for Rari and Palm launches.
- Setup the data transform for traits for Algolia search
- Uploads the data to Algolia for filter testing
- Migrated Blog, Canny, Emails, Status page, app from nftx.org to nftx.io
- Setup pricing Bot for Rari integration
The 14d price for NFTX is down by 34.1%, sitting at the $136.24 mark as of Monday afternoon after seeing a spike after the launch of https://nftx.io
That's all for this week. If you have any questions, come and join in on the Discord channel.