Collection.xyz

Maker

Hi Product Hunt community! I’m Spencer, one of the co-founders of Gomu. @kenneth_tiong @jseow and myself are really excited to launch Collection.xyz to you. Appreciate @chrismessina for hunting our product. We started Collection.xyz because we felt that more could be done to improve the liquidity of NFTs on Decentralized Exchanges (DEXs) such as Sudoswap. Liquidity is the cornerstone of any good trading experience and ensures that investors, traders, and collectors will be able to buy the NFTs they want at the prices they expect. Collection.xyz makes it easy for NFT community operators to create liquidity incentives by making it really easy for operators to offer rewards in exchange for liquidity in a decentralized, trustless manner. These vaults allow community operators to target specific trading parameters (e.g. fees) that they care about and only incentivize the liquidity that meets that criteria. On the flip side, NFT holders and liquidity providers joining the vaults have more confidence that the liquidity they provide is configured in a sensible, desirable way while being able to take earn both the incentives as well as the trading fees from the pools. Under the hood, Collection.xyz tokenizes the ownership of the DEX liquidity pool, giving the user a Liquidity Position token (LP token), so that the user providing liquidity has more options at their disposal. Our decentralized application currently handles the deposit of the token into the vault so that the user starts earning rewards immediately, but it is possible that the user decides to do something completely different with the LP token like trading it away. The vaults are closing in on $100k of liquidity barely 72 hours after the first incentive programs started and we are very grateful for the reception from the NFT and DeFi community. Every week, we hope to invite more projects to create vaults for their community. We will also look to continuously improve on the vaulting and liquidity provision experience. Our founding team has been deep in the Web3 industry for the past 5 years working on product and engineering at companies such as Coinbase, CoinMarketCap, Chainlink, Millennium Management, and Zendesk. We've raised $5M in a seed round from Coinbase Ventures, Defiance Capital, Saison Capital, and angel investors with years of operating experience in the industry. https://www.coindesk.com/busines... We look forward to your feedback!

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3yr ago