Sudoswap is a new and innovative NFT Marketplace & Automated Market Maker (AMM) that was developed by 0xmons.
The platform allows NFT collectors to swap NFTs (ERC721s) in a trustless, gas-efficient, and fully on-chain manner. The creator describes his novel AMM as a "capital efficient protocol for NFT liquidity" and many have labelled it the UniSwap (V3) of NFTs.
- 0.5% fees and fully on-chain and decentralized.
- First of it's kind AMM and concentrated liquidity protocol for NFT swaps.
- Founded by popular Crypto Twitter personalities including 0xmons, State Layer and Sisyphus.
What is Sudoswap?
Sudoswap or the 'SudoAMM' is a new NFT marketplace that changes the way crypto users think about NFT liquidity and trading. The platform is relatively new and was developed by an anonymous developer named 0xmons with the help of his co-founder StateLayer.
Sudoswap is novel technology within the NFT sector and introduces the 'Automated Market Maker' (AMM) model to NFTs and enables users to do the following:
- Create pools that gradually buy or sell NFT collections along price curves.
- Provide liquidity to investment pools that buy and sell NFTs to earn revenue.
- List NFTs on the Marketplace at set prices.
Sudoswap NFT Marketplace Growth
The Sudoswap NFT Marketplace has boomed in daily volume since its release in late July 2022. At time of writing, Sudoswap is currently trading over 800 ETH in volume with no incentive program or rewards to incentivise users.
This growth highlights that Sudoswap has potential product-market fit and could be a critical piece of infrastructure for the NFT sector. You can track the Sudoswap data on Dune Analytics.
Who founded Sudoswap?
The founder of Sudoswap is an anonymous developer that is widely regarded in the crypto community for his AI-generatedNFT collection called 0Xmons.
You can find the Sudoswap founder's Twitter profile here.
Does Sudoswap have a token?
Yes, Sudoswap has a governance token named after the founder called XMON (XMON). They have announced that there will be a token swap from XMON to the new token SUDO, which will take place sometime in Q4 of 2022. The initial supply distribution for the SUDO token, which will be the official governance token for the sudoAMM is as follows:
- Initial supply: 60M SUDO
- XMON holders: 25.12M, or 41.9% of supply
- 0xmons NFT holders: 0.9M or 1.5% of supply
- Retroactive LP airdrop: 0.9M or 1.5% of supply
- Treasury: 15.08M or 25.1% of supply
- Initial team members: 9M or 15% supply, vested over 3 years with a 1 year cliff
- SudoRandom Labs: 9M or 15% of supply, vested over 3 years with a 1 year cliff
What is next for Sudoswap?
According to an official tweet, Sudoswap will be releasing support for ERC1155 tokens, ERC20 tokens and building more novel bonding curves for NFT AMM management.
Final Thoughts
Sudoswap is a promising NFT Marketplace & Automated Market Maker (AMM) that was developed by 0xmons. It offers users the ability to swap NFTs (ERC721s) in a trustless, gas-efficient, and fully on-chain manner. The platform has seen exponential growth since it's launch in late July 2022, and it looks to be a critical piece of infrastructure for the NFT sector.
It is still early days for Sudoswap so it will be interesting to see how it evolves over time. We look forward to seeing what features are released next by 0xmons and the Sudoswap team.
I am a Finance graduate and market analyst that enjoys researching and writing about digital assets and how they intersect with Macro.
