Intro
A market is composed of "price takers" and "market makers". Currently there is no possibility to build a true market for cards because you cannot place buy orders natively (only in peakmonsters 3rd party service yet you need to grant "purchase_permission".).
Basically, the goal is to make card markets more liquid.
How? By converting NFTs to tokens. (the reverse process should be integrated as well).
The premise is "all level-1 Zaku cards are fungible" (change Zaku for any other card).
The smart contract would tokenise level-1 cards so that they can be traded in bulk with order books on hive-engine.
Benefits over bidding system in peakmonster
- Permissionless
- More traders. Higher volumes.
- Native implementation. Orders will be visible directly in the hive-engine sidechain.
- More appropriate UI with candle and deph charts for traders
- Possibility to trade cards at 0% fee (the 5% fee only applies when exchanging a card in NFT format. Once the NFT is converted to a token, can be traded at zero cost)
TLDR
I would like to ask permission to build a new smart contract for hive-engine.
Opinions are welcome. Do not forget to vote https://feedback.splinterlands.com/346
Thanks in advance