Technology

How to Trade on sudoswap, the NFT Market’s Answer to Uniswap

sudoswap is making NFT trading even easier. Launched in May 2022, sudoswap is crypto’s first NFT automated market maker. The Ethereum-based platform functions similarly to Uniswap, letting users trustlessly trade assets through user-funded liquidity pools. However, instead of trading between two fungible tokens, sudoswap users can trade between NFTs and ETH. At first glance, it might be hard to see what advantages sudoswap offers the average user over conventional NFT trading platforms like OpenSea, the world’s biggest NFT marketplace with trading volumes that far surpass all of its competitors. Unlike OpenSea, sudoswap’s pools are completely decentralized and funded by its users. However, this doesn’t mean that trading is free—the creator of the trading pool sets a swap fee of a few per cent paid to them from every successful NFT purchase or sale. The fees generated when assets are traded through the platform’s pools return to those providing the NFT and ETH liquidity. This also means that sudoswap bypasses existing royalty fees placed on collections by their creators.

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