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    Home » Hadeswap Full Guide: How to Use the NFT AMM
    Hadeswap Full Guide How to Use the NFT AMM
    Hadeswap Full Guide How to Use the NFT AMM
    Learn

    Hadeswap Full Guide: How to Use the NFT AMM

    By DamoclesNovember 28, 2022Updated:November 28, 2022No Comments6 Mins Read
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    Hadeswap is an AMM-powered non-fungible token (NFT) marketplace on the Solana blockchain that offers instant NFT liquidity, 0% platform fees, and 0% royalty fees. 

    NOTE: It will soon implement 0.5% platform fees that will be dedicated entirely to its ABC NFT collection holders. As for the royalty fees, you will soon have the option to pay your favorite collections (optional royalties).

    Table of Contents

    • How Does Hadeswap Work? 
      • Providing Liquidity VS Trading
    • How to Create a Liquidity Pool 
      • Connect to Hadeswap
      • Begin Pool Creation
      • Select an NFT Collection
      • Choose a Pool Type 
      • Set Pool Parameters
      • Approve the Wallet Transaction 
    • How to Buy NFTs 
      • Connect Your Wallet 
      • Choose Your Collection and NFT
      • Approve the Transaction 
    • How to Sell NFTs
      • Connect Your Wallet 
      • Select the ‘Collections’ Tab 
      • Go to the NFT Collection’s Page 
      • Choose the NFT You Want to Sell 
      • Approve Transaction 
    • Closing Remarks
    • Subscribe to the Metaroids Newsletter

    How Does Hadeswap Work? 

    Now, you’re probably asking what is with this NFT AMM trend and why many of them are popping up recently. Let’s start with the NFT space’s liquidity issues. 

    NFT marketplaces rely on price agreements between buyers and sellers for a trade to complete. A seller sets a price and waits for someone willing to pay for it. And this waiting phase keeps a large chunk of assets from getting traded, making them very illiquid.

    What if there’s an instant way to sell these static NFTs? This is where an AMM can help. 

    An NFT AMM like Hadeswap allows collectors to create liquidity pools and instantly sell their assets, a feature that common NFT marketplaces like OpenSea and Magic Eden currently don’t have. 

    AMMs were previously used only on decentralized exchanges (DEXs) such as Uniswap but are now being tested by an increasing number of NFT platforms. 

    Hadeswap provides both types of offerings:

    1. The ability to buy and sell NFTs through an AMM pool, and
    2. Create liquidity pools and earn passive income from the fees. 

    You can even set limits on the buy/sell orders on your pool, allowing you to set your preferred price instead of accepting the market price when the orders were placed. 

    Providing Liquidity VS Trading

    Providing liquidity allows you to make instant sales on your digital assets, which is ideal when you need immediate liquidity. The only downside is that you don’t get to decide your NFT’s price, as an algorithm does, which means that you may have to sell at a loss. 

    Trading, meanwhile, is the common way of selling NFTs, where you list digital assets at your desired price. But unlike being a liquidity provider, it does not guarantee immediate sales as someone needs to agree on your price before a trade can happen. 

    In the next sections, we’ll show you how to earn passive income by becoming a liquidity provider, as well as how to buy or sell your NFTs via Hadeswap.

    How to Create a Liquidity Pool 

    Creating a liquidity pool in Hadeswap is not as intimidating as it sounds. In fact, almost anyone with experience in NFT trading can easily understand it.

    You will need a Solana-based wallet in order to connect to the platform. We highly recommend Phantom.

    Here’s how you can provide liquidity on Hadeswap:

    Connect to Hadeswap

    Head over to hadeswap.com and connect your web3 wallet by clicking on the top-right section that says “connect wallet.”

    Connect to Hadeswap
    Connect to Hadeswap

    Begin Pool Creation

    Connect your wallet and select the ‘My Pools’ button in the screen’s upper-right corner. 

    Hadeswap pools
    Hadeswap pools

     After that, click ‘Create Pool.’

    Create pool button
    Create pool button

    This should bring you to Step 2.

    Select an NFT Collection

    On the search bar, enter the name of the NFT collection from which you want to create a pool. For this guide, we chose ‘Mechs of Solana’. 

    Choose a Pool Type 

    Hadeswap allows you to create three types of pools. The first one allows you to earn SOL tokens through NFT payments, while the second pool offers the opposite, which lets you earn NFTs through SOL payments. 

    But if you want to potentially generate higher profits from your pool, you may want to select the third one, a combination of the first and second pool, which allows you to earn from trading fees. For this example, we will choose the third option.

    selecting a pool type
    selecting a pool type

    Set Pool Parameters

    On this page, you can adjust your pool’s parameters, such as fee, spot price, bonding curve, delta, and your chosen asset. 

    Setting liquidity pool parameters

    If you’re confused about the terminologies we’ve mentioned above, let’s briefly define each one. 

    FeeWhat you want to charge every time someone trades using your pool. 

    Spot Price 

    This is the starting price for all your pool’s NFTs

    Bonding Curve 

    The price mechanism you want to apply for your pool. Here, you’ll get to choose between two options: Linear curve or exponential curve.

    Delta 

    The scale of price changes in your pool

    After reviewing the parameters you’ve set, click ‘Create Pool,’ located at the lower-right of the screen. 

    Approve the Wallet Transaction 

    Your wallet will prompt you to approve the transaction. Click it.

    Wallet confirmation
    Wallet confirmation

    How to Buy NFTs 

    Before you can purchase NFTs on Hadeswap, make sure that you have enough funds to purchase digital assets and cover the transaction fees in your wallet. As a reminder, Hadeswap currently charges 0% transaction fees. 

    Connect Your Wallet 

    Connect your wallet to the Hadeswap website.

    Connect to Hadeswap
    Connect to Hadeswap

    Choose Your Collection and NFT

    Click the ‘Collections’ tab on the screen’s upper-right side of the webpage. Search for your desired collection on Hadeswap’s extensive library. For this article, we will buy ‘Mechs of Solana.’ 

    Choosing an collection to sell

    Next, select the NFT you want to purchase from the collection. For this one, we picked ‘Mech #1692’.

    Selecting the NFT

    Approve the Transaction 

    Once done, click the ‘Swap’ button on the lower right corner of the screen.

    Then, approve the transaction on your wallet.

    Approving swap on wallet
    Approving swap on wallet

    How to Sell NFTs

    Selling your NFT on Hadeswap grants you instant liquidity, unlike typical marketplaces. You will need a web3 wallet and a Solana NFT.

    Here’s how you can instantly liquidate your digital assets:

    Connect Your Wallet 

    Connect your wallet to the Hadeswap website.

    Connect to Hadeswap
    Connect to Hadeswap

    Select the ‘Collections’ Tab 

    Go to the ‘Collections’ tab.

    Collections tab
    Collections tab

    Go to the NFT Collection’s Page 

    Search for your NFT collection and click the ‘Sell’ button. In this example, we are selling a Mechs of Solana NFT.

    click sell
    click sell

    Choose the NFT You Want to Sell 

    Select one or more NFTs you’ve purchased from that collection and click the ‘Select’ button. 

    Note: In case your purchased NFT does not appear, simply refresh the page or disconnect and reconnect your wallet on Hadeswap. 

    Selecting an NFT to sell
    Selecting an NFT to sell

    Click the ‘Swap’ button at the lower-right corner of the screen. It’s time to say goodbye to our Mech #1692.

    Approve Transaction 

    After clicking the ‘Approve’ button, don’t leave your wallet yet and wait for the ‘success’ notification. Sometimes, the transaction may fail due to some technical issues, prompting you to do this step again. 

    Approving the sale
    Approving the sale

    Closing Remarks

    Note that Hadeswap is still in beta mode and has no audits yet. It reminds current and would-be users to use its marketplace’s services with caution. 

    To join Hadeswap’s growing community, you may visit its Twitter and Discord accounts. Furthermore, you can also purchase its ABC NFT collection at OpenSea and Magic Eden. 

    If you want a similar platform to Hadeswap but on Ethereum, we highly recommend you try Sudoswap as they have striking similarities.


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    Damocles
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    Damocles is a self-imposed web3 nomad with a background in journalism and education. Having served as a freelance writer for three years, he decided to focus on one area he loves: the blockchain industry. He enjoys the drama, controversies, and pleasant surprises of this growing arena, pumping him to write more daily. To this day, he still considers himself a newbie who is dead set on honing his skills and being more involved in web3 projects.

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