SUDO(sudoswap）Project Analysis-CoinW Institute
SUDO(sudoswap）Project Analysis
1. Research Institute Review
Despite the support of uniswap, sudoswap average daily turnover of only 4 million dollars, relative to the volume of opensea is still the tip of the iceberg, or a relatively niche aggregation platform, the only drawback is the inability to identify the scarcity of NFT. Because NFT users and defi users are two different sets of users, NFT users are seeking simple operation, easy to use, the follow-up also depends on whether NFT users are willing to understand the highlights of the AMM mechanism in depth.
And opensea comparison is as follows. First: saving fees, the current mainstream NFT exchanges such as OpenSea, X2Y2, LooksRare are using the order book model to trade, sellers will be their NFT in the form of orders hung on the trading platform for sale, buyers buy according to their own choice; order book model will cause is the buyer of each transaction fees are high. For example, like opensea each transaction fee plus royalties to remove 10% of the cost, and sudoswap is uniswap V3 AMM mechanism, so the fee as long as 0.5%, because no royalties, greatly reducing the cost of the transaction.
Second: AMM mode, in addition to the limit single purchase (uniswap V3), fundamentally from openesa point-to-point transactions, to sudoswap point-to-pool transactions, the experience is silky smooth.
Third: centralized liquidity, according to the function there are sub interval to provide liquidity, can unilaterally provide liquidity, and uniswap trading pairs, the same, may cause no compensation loss.
2. Recent breakout point
NFT aggregation platform + Uniswap integrated liquidity.
Uniswap after the acquisition of NFT aggregation market Genie, integrated sudoswap to solve the NFT liquidity problem, because sudoswap launched the NFT on-chain market protocol sudoAMM, in the $Blur and #Opensea fierce competition, sudoswap also issued a coin.
3. Project Description
sudoswap is a decentralized NFT marketplace. sudoAMM treats NFT as TokenA and ETH as TokenB, allowing LPs to provide one-way or two-way liquidity injections and make markets in NFT-ETH at a specified price, thereby earning a fee. control the pricing of the pool. This mechanism makes the value of the same series of NFTs converge and is suitable for long-tail, or highly homogeneous, large number of NFT projects.
4. Token role
Governance, voting, pledging, proposing
5. Token economic model
5–1. Governance token SUDO, with an initial supply of 60 million, allocated to 41.9% of XMON holders.
5–2. 900,000 pieces (1.5%) allocated to 0xmons NFT holders.
5–3. 900,000 pieces (1.5%) allocated to retroactive LP airdrops.
5–4. 15.08 million (25.1%) allocated to Treasury
5–5. 9 million pieces allocated to the initial team (1 year fully locked 3 years vested).
5–6. 9 million pieces allocated to SudoRandom Labs (1-year fully locked position with 3-year vesting).
6. Project highlights
sudoAMM currently offers the creation of NFT unilateral pools (pools for buying or selling NFT) and ETH and NFT bilateral pools, where bilateral pool liquidity providers can earn transaction fees. sudoAMM’s main features are low platform transaction fees (only 0.5%), on-chain liquidity pools, no royalties and low Gas. sudoAMM has also further optimized the user experience with In addition, sudoAMM has also made further optimizations in the user experience, including the series of quotes, shopping cart, floor price sweep function.
7、Community
Twitter 44,000 people, there is a certain degree of enthusiasm NFT user base.
8、Future Outlook
Pros: sudoAMM has made relatively substantial improvements in liquidity provision, flexibility and efficiency when trading, such as allowing the provision of unilateral liquidity pools of NFT or ETH, NFT and ETH pairing, the ability to adjust liquidity pool parameters at any time, bilateral pool creators can set their own fees, optional pricing curve, etc.
Disadvantages: sudoAMM is fully on-chain, so operations such as listing or unlisting NFTs, bidding, receiving offers require Gas fees. Although sudoswap claims to effectively reduce the required Gas fees, it is also a significant expense for frequent NFT Degen operations or when the Ethernet network is congested.
More importantly, most of the current popular NFT series have rarity properties, and driving reasonable pricing can be a significant challenge for sudoAMM. It remains to be seen to what extent Uniswap’s previously announced implementation of NFT trading via sudoswap will drive the depth and liquidity that will guide sudoAMM.
Basic Information
Project Description: sudoswap started as an over-the-counter (OTC) trading platform released by 0xmons in April 2021. SUDO is the governance token for sudoswap, a centralized liquidity AMM protocol for NFT.
Full token name: sudoswap
Token name: sudo
Project website: https://sudoswap.xyz
Project Documentation: https://docs.sudoswap.xyz/
Block query:
https://etherscan.io/token/0x3446dd70b2d52a6bf4a5a192d9b0a161295ab7f9
Liquidity Query:
https://etherscan.io/address/0x3446dd70b2d52a6bf4a5a192d9b0a161295ab7f9
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