Uniswap Will Integrate Sudoswap To Access Deeper NFT Liquidity
Uniswap is diving deep into the NFT rabbit hole.
The automated market maker integrates the decentralized NFT market Sudoswap to enable efficient NFT swaps when launching its NFT platform.
The news was share by Scott Gray, NFT Product Manager at Uniswap Labs.
The integration will allow users to purchase NFTs using the Uniswap platform while accessing on-chain liquidity offered by sudoAMM.
Sudoswap’s sudoAMM automated market maker was launched on July 8. Automated market makers allow digital assets to be traded automatically using pools of liquidity rather than a traditional marketplace that must match buyers with sellers.
sudoAMM allows users to create pools that gradually buy or sell NFTs along price curves, provide liquidity to NFT pools to earn fees, and directly list their NFTs at fixed prices.
“Currently, the NFT market relies on centralized order books which are subject to downtime and centralization risk,” Sudoswap tweeted. “SudoAMM changes that by being fully on-chain. Anyone can get the same liquidity used by the sudoswap market in their applications using only Ethereum.
With Uniswap’s sudoAMM integration, Uniswap is doubling down on NFTs. Last month, it acquired aggregator NFT Genie.
Uniswap is the first 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 other new bond curves and AMM management frameworks in the future.