ABC, an NFT collection that launched last week, has emerged as one of the most popular new projects on Solana with over 100,000 total SOL trading volume and a 9.95 floor price at the time of this writing. The project is notable for what it chose not to include, such as: royalties, a roadmap, official social media channels, a team, and a mint (the collection listed directly on Magic Eden at a price of 1.23 SOL). The collection's creator @HGE.SOL is a major collector in both the Ethereum and Solana NFT spaces as well as being the "Core lunatic" at The OpenDAO.
After capturing the web3 world's attention with ABC's rise, HGE.SOL announced the launch of Hadeswap in a Twitter thread.
Hadeswap is a fully on-chain Automated Market Maker (AMM) for NFTs with an order book. By launching an AMM on Solana, Hadeswap aims to improve NFT liquidity, giving users the ability to swap NFTs using liquidity pools in the same way defi traders do swaps on Uniswap. Users will also be able to earn passive income by providing liquidity to the pools in the form of NFTs plus Solana. Additionally, Hadeswap will include an order book, allowing users to place limit orders which will trigger buys or sells automatically when the floor price of an NFT collection reaches a certain level.
In it's launch announcement Twitter thread, Hadeswap also touched on the idea that going forward NFT projects may feel social pressure to use part of their mint funds to provide liquidity on an AMM, which would help to prove that the project isn't a rug (assuming the liquidity gets locked) and would give holders a way to exit the project quickly.
While the exact relationship between Hadeswap and the ABC collection hasn't been revealed yet, Hadeswap announced that there will be documentation released to "highlight the role of ABC NFTs and make onboarding easy as 123."
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