Gutter Cat Gang collectors deposit their NFTs and get $GCG(the ERC20 derivative of Gutter Cat Gang NFTs), they can use those tokens to provide liquidity on the GCG/ETH Uniswap pool and potentially earn $MUSE in the future or just speculate on the floor price of the collection
What is NFT20?
NFT20 is a permissionless NFT DEX with the mission of bringing liquidity to NFT projects and finding the right price for users, collectors and funds for investing into NFTs.
Once liquidity is added to Uniswap it allows collectors to buy and sell those NFTs with Eth in once click thanks to our novel protocol!
How does the $GCG pool work?
Advanced users can deposit any Gutter Cat Gang NFTs into the pool and get 95 GCG back (an ERC20 token), you can use GCG to add liquidity on Uniswap and trade GCG-ETH.
You can deposit 100 GCG back into the pool at any time and choose which NFT to redeem from the pool. The 100 GCG you deposit gets burned. The GCG tokens can be used for LP farming as described later
Normal collectors can just use the easy UI to sell or buy NFTs with ETH in one click on the home page.
How to Sell a rare Gutter Cat Gang?
It is advised to lock common NFTs into the general pool as you’ll get the same 95 GCG tokens for all NFTs, no distinction.
If you have a rare NFT, you can create a dutch auction within the asset page and set your own price in GCG.
How to Get Back an NFT from the Pool
To get back an NFT from the pool you can deposit 100 GCG at any time and get any of the Gutter Cat Gang available in the NFT20 pool.
You can also buy Gutter Cat Gang NFTs directly with Ether in one click from the pool:
How To Swap a Gutter Cat Gang?
You can swap your Gutter Cat Gang for any of the Gutter Cat Gang on the pool at any time by paying only for the gas here’s a video on how to do it.
How To farm Muse by providing liquidity?
Once you have any amount of GCG tokens in your wallet you can add :
- Add liquidity to the Uniswap ETH/GCG pair
- Deposit your Uniswap LP token on our farm page
- Enjoy an relax your $Muse reward
Arbitrage with Uniswap and Opensea
Based on our past pools, there is a lot of arbitrage that can be done. The goal of the NFT20 pools is to create a price floor for common NFTs and make them liquid on Uniswap.
Think creatively and you might find some nice arbitrage opportunities.
Are there any fees involved?
When you tokenize an NFT the pool contract mints 100 tokens, 95 go to you and 5 go to our factory to be distributed to $MUSE holders.
There are no fees for swapping, or getting back a Gutter Cat Gang NFT from the pool.
Disclaimer: NFT20 is a permission-less protocol for creating liquidity to NFTs, we are not related in anyway with the Gutter Cat Gang team.
Published By : VeryNifty