The Magic Eden AMM pool, which enables users to serve as buyer LPs, seller LPs, and double-sided LPs, has been made available on the NFT marketplace Magic Eden.
Magic Eden AMM Pool Was Released With a 0 Attractive Maker Fee
Users can manage a single-item sell or buy order, but keeping track of multi-item sale or buy orders (LPs) could quickly become difficult. Any size sell-side, buy-side, and double-sided LPs can be easily handled by Magic Eden’s AMM.
Currently, maker fees are 0. However, this may change with the next announcement. In addition, the liquidity pools all have a fee multiplier of 1.3x. So, there is $50,000 in the prize pool. Ultimately, all of the fee multipliers will be sent to the liquidity pool providers.
Types of LPs
Buy-side and sell-side LPs were the two different types of LPs.
- Buy-side LP: It is comparable to several other collection options with different prices. You can describe your whole buy-side LP using terms like “royalty-payment enabled,” “pricing curve type,” “highest purchase price on the curve,” “the number of single buy orders on the curve,” and “incremental delta amount on the curve” rather than manually entering values one at a time.
- Sell-side LP: Similar to several listings with different prices. Instead of entering prices one at a time, you can just specify the entire sell-side LP using terms like the type of pricing curve, the lowest sell price on the curve, the required set of NFTs, incremental delta amount on the curve, and royalty payment needed on each sale.
Additionally, there are LPs that have both a buy-side and a sell-side, known as double-sided LPs. Users can trade on both sides of the market, making it operate similarly to a regular market maker.
What is the Benefit of Magic Eden AMM Pools?
Sell-side, buy-side, and double-sided LPs are simple to manage on Magic Eden with the AMM Pools. Regardless of how large their LP is, users can rapidly create, update, and cancel orders with the correct technology.
Leave a comment