Sudoswap Launches Sudoshort, Allowing Users to Short NFT and Increase Profits

NFT trading protocol sudoswap announced the launch of sudoshort, a protocol aimed at increasing LP yield of liquidity pools, allowing users to short NFTs, and reducing reliance on oracles. Sudoshort is an optional protocol built on top of the sudo liquidity pool.

Pool owners of the protocol can choose to allow traders to borrow their NFTs in exchange for ETH as collateral. Liquidity providers make suitable borrowers as they have already balanced between NFTs and ETH (at the right price). The loan is for a fixed term, making loan resolution easy. Liquidity providers can set borrowing rate limits and minimum collateral amounts. Pricing is based on the maximum value, ensuring upward protection.

Ethereum $3,422.26

+1.53%

NFT

Comments

All Comments

Recommended for you

Coindesk ·

Careers in Crypto: 5 Insights for 2024

In an overwhelming job market, leaning into personal networks and connections are more important than ever. Emily Landon, CEO of The Crypto Recruiters, outlines what is happening in the crypto job market and how you can position yourself or your company in 2024.
Cointime August 10th News Express

1. The U.S. Internal Revenue Service has released a new draft of the crypto tax form, which no longer requires filling in wallet addresses and transaction IDs
Adidas and Doodles collaborate to launch a limited edition NFT collection pack

Sportswear giant Adidas is collaborating with Ethereum NFT series Doodles to sell virtual gift packages that support buyers in purchasing exclusive physical clothing. Adidas and Doodles stated in a joint statement that these limited edition collectible packages will be available for purchase before August 16th, with two items in each package. The Adidas Originals x Doodles online store shows that the retail price for a single package is $4.99, while the price for 2 to 100 packages ranges from $8.49 to $374.99.Some joint sets include physical collectibles featuring Deysi, the digital mascot in Pharrell Williams and Coi Leray's new song "Not in the Store". These collectibles include Deysi sportswear and Superstar shoes, with each limited to 200 pieces.
NFT market total sales fell 26.2% to $46 million in June

On July 8th, Binance Research's latest report showed that the crypto market experienced a significant downward trend in June 2024, with an overall decline of up to 11.4%. Due to the market downturn, the TVL (total locked value) of DeFi decreased by 8.7% in June. The NFT market also continued to be sluggish, with a total sales volume of $46 million in June, a decrease of 26.2% compared to May. The monthly sales volume of DMarket, the in-game item trading platform for Mythos, was the highest at $18.9 million, followed closely by CryptoPunks with sales of $16.1 million. The sales of top-tier ordinal series such as BitcoinPuppets and NodeMonkes decreased significantly, by 40.6% and 41.0%, respectively. BoredApeYachtClub's monthly sales volume slightly decreased, while PudgyPenguins performed better than the market, rising by 68.9%.
Cointime July 7th News Express

1, Ethereum L2 TVL rebounds slightly to above $39 billion
Cointime精选 ·

UNVEILING THE CELESTIAL MASTERY: TREVOR JONES’ CRYPTOANGELS PROJECT

Renowned digital artist Trevor Jones, a visionary in the fusion of traditional art with blockchain technology, is set to transcend boundaries with his latest project, CryptoAngels. This ambitious initiative is not merely an art drop; it’s a comprehensive ecosystem encompassing physical and digital realms, games, and a vibrant community engagement, promising to be a cornerstone event in the NFT landscape of 2024.
Cointime精选 ·

The Future of Culture is Tokenized

How Culture Coins could be the future of Crypto.
Cointime精选 ·

NFT Futures: A New DeFi Primitive for a Cultural Based Asset Class

NFT Futures apply the same concept of perpetual swaps to NFTs In doing so, it unlocks a more accessible and two-sided trading experience not available before in the NFT spot market. Although it is too early to judge, the potential value propositions offered by NFT futures have the potential to grow in the NFT market.
Cointime精选 ·

ON–216: NFTs

Coverage on NodeMonkes, Pudgy Penguins, CryptoPunks, Mad Lads, and NFTs in Safes.
cointelegraph ·

Starbucks says its NFT rewards program must come to an end

Starbucks' decision to end its NFT rewards program is in line with similar moves by other major companies in the last year.