What is Hadeswap? Hadeswap is an AMM NFT exchange developed on Solana that allows users to trade Swap NFTs quickly. Let’s find out what is special about this project with Weakhand in this article.
What is Hadeswap?
Hadeswap is an exchange AMM NFT Developed on Solana. Users can trade NFT swaps through these channels Liquidity pools similar to how users trade Swap tokens on Uniswap.
Hadeswap uses bonding curves to determine NFT prices after purchases and sales. Currently Hadeswap is supporting 2 bonding curves:
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Linear: The price of an NFT is increased by a fixed amount (delta) each time an NFT is purchased from the Pool. In contrast, the price of NFTs is reduced by the same fixed amount each time an NFT is sold in the Pool.
For example: A liquidity provider sets up 1 Pool with a starting price for NFTs of 10 Sol and delta = 1 Sol. When 1 NFT is bought from the Pool, the NFT price increases by 11 Sol, on the contrary, if 1 NFT is sold from the Pool, the NFT price decreases by 1 Sol, which is 9 Sol.
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Logarithmically: The price of an NFT increases by a certain percentage (delta) each time an NFT is purchased from the Pool. Conversely, the price of NFTs will decrease proportionately each time an NFT is sold in the Pool.
For example: A liquidity provider sets up a Pool with a starting price for NFTs of 10 Sol and delta = 25%. When 1 NFT is purchased from the Pool, the NFT price will be: 10 + 10*25% = 12.5 Sol. If 1 NFT is sold from the Pool, the NFT price will be divided by 1.25.
Liquidity Providers (LPs) have 2 ways to provide liquidity on Hadeswap:
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One-sided liquidity provision: Create a Pool containing only NFT or Sol. This method is suitable for LPs who want to buy/sell NFTs according to their strategy.
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Providing liquidity on both sides: Create 1 Pool containing both NFT and Sol. LPs earn trading fees when users swap in their Pool.
This model is quite similar to SudoSwap, people can read more about SudoSwap here.
What is the Difference of Hadeswap?
Hadeswap does not charge any fees when users use the platform, the only fees users pay are to LPs. LPs on Hadeswap set transaction fees in each of their Pools, when users swap NFTs in the Pool they will receive the previously set transaction fees. This also creates a competitive market as LPs will tend to charge cheaper fees to attract users to swap in their Pool.
Core Team
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Investor
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Tokenomics
Basic information about tokens
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Token Name: Hadeswap
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Ticker: HADES
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Blockchain: Solana
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Contract: BWXrrYFhT7bMHmNBFoQFWdsSgA3yXoAnMhDK6Fn1eSEn
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Token Type: Utility, Governance
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Total Supply: 100,000,000 HADES.
Token Allocation
Token Release
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Team: Pay linearly monthly for 2 years.
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Sugar Daddies: Pay linearly monthly for 2 years.
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FRAKT: Pay a 2-year bonus to those who stake FRKT tokens.
Token Use Case
HADES tokens are used for:
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Administration: HADES token holders can participate in voting for activities on the platform.
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Hades NFT Auction: Participate in daily auctions on Hadeswap, 90% of the collected HADES tokens are burned.
Exchanges
HADES tokens can be traded on both DEX and CEX exchanges such as Gate.io, MEXC, Orca, Jupiter.
Information Channel of Hadeswap Project
- Website: https://www.hadeswap.com/
- Twitter: https://twitter.com/hadeswap
- Discord:
summary
Hadeswap is one of the first AMM NFT exchanges on Solana. The fact that Marketplaces use an order book mechanism makes transactions slow and tends to switch to NFT AMMs. If Hadeswap does well, they can attract a lot of users on the Solana ecosystem. Above is the information I want to share in this article, hopefully everyone will have useful knowledge about Hadeswap.