GC Update — ArtDEX Beta
ArtDEX: A new kind of NFT marketplace!
Hello Geniuses! We would like to announce a name change for our upcoming pool-based NFT exchange. NFTDEX will be known as ArtDEX going forward.
Remember, ArtDEX is a new style of NFT marketplace, which uses a pool-based system inspired by sudoswap. ArtDEX will be a natural fit for SalsaDAO, and our pool-based system will offer deeper NFT liquidity for higher-frequency trading.
Want to learn the basics? Read our previous article for the base info.
Today we’ll be diving a bit deeper into the ArtDEX interface, fees, and audit fundraisers.
If you’d like to test the beta now, visit ArtDEX and connect your Ghostnet wallet.
ArtDEX Interface Update
We’ve been in the lab focusing on UI/UX, with the aim of delivering an experience up to the current level that sudoswap offers. To this end, we’ve successfully implemented new interface functionality in the ArtDEX Beta.
The current functionalities on ArtDEX Beta are as follows:
The new interface does all of the hard work for the user. NFTs for each collection are discovered and sorted based on the best possible price for the user.
Simply click or tap on an NFT under the Buy tab and the order will be placed in your cart.
Users can still directly buy NFTs from a pool, using the Pools tab.
The ArtDEX interface will automatically load the NFTs you own and discover the best possible offer for each NFT.
Just click or tap on the NFT under the Sell tab to add the order to your cart!
Users can still directly sell NFTs to a pool, using the Pools tab.
We’ve launched 3 collections of Test NFTs that users can freely mint and use to test buying and selling on ArtDEX. Mint some TestTacos, TestBoxes, and TestCards to start creating pools and executing buy/sell orders.
(Upcoming) Collection Offers & Sweeps
These are shortcut features that will be offered on ArtDEX. With one click, users will be able to sweep the cheapest NFTs in a collection or make a collection-wide offer.
(Upcoming) Pool Management
Future ArtDEX releases will allow users to fine-tune their pools for maximum customization. Users will be able to deposit new assets, withdraw locked assets, and change pricing parameters freely.
For now, we’d like the community to focus on testing the optimized buy & sell UI features.
We will create an ecosystem-wide search that helps users discover and trade NFTs from any marketplace on Tezos.
ArtDEX Fee Structure
Today, we’d like to shed some light on fee structures and incentives for ArtDEX.
In general, we will have a 2% protocol-level fee which applies to all trades. This rate keeps us competitive with other Tezos NFT Marketplaces, and will be subject to SalsaDAO governance.
This protocol fee will be subject to a profit sharing program. The accrued fees will be split evenly, with half going to GC and half to $sDAO holders via ArtDEX Staking.
ArtDEX Staking will be a simple $sDAO staking program, where ArtDEX fees will be earned based on $sDAO stake. ArtDEX Staking will have account minimums and a short lockup period to maintain token value.
Special Launch Event
To support the launch of ArtDEX and provide value for SalsaDAO NFT collections, we are planning a bonus event for ArtDEX launch. During this event, GC’s cut of ArtDEX fees will go directly to SalsaDAO NFT holders.
Each SalsaDAO ecosystem NFT has an SP value that is currently used for Royalty Staking. During this event, GC’s cut of ArtDEX fees will be routed to users based on their total SP in Royalty Staking.
This special event will run until we release our NFT mintery, The Millions. At that point, Royalty Stakers will start earning minting fees from The Millions, and GC will start earning 1% of ArtDEX fees.
When creating Trade pools, users will be able to set their own Pool Fee and earn income every time a trade is executed in their pool.
The ability to earn fees by providing NFT liquidity is an important aspect of ArtDEX.
Geniuses, we believe that ArtDEX is an important project to release on Tezos. The innovation of pool-based NFT marketplaces is an important step for the NFT space. We want to get this project right, so we will be securing a full smart contract audit before releasing this project, similar to SpicySwap launch.
We will be launching a series of fundraiser NFTs to raise money for the audit and development of ArtDEX. These will be distributed in various ways like direct sales, auctions or Casino Challenge prizes.
All of these NFTs will have boosted SP amounts, meaning users can stake for more ArtDEX fees!
SalsaDAO.io Land Owners will be gifted free mint passes for select collections!
Check out our lineup below. More information coming soon!
NFTrees will be a fully on-chain & dynamic NFT set where each minter will receive their own unique tree on the Tezos blockchain. These trees will grow from a seed, bear fruit, and display differently depending on the seasons in real life.
Fully on-chain means that the NFT art itself actually changes as the tree grows or seasons change, with no dependence on IPFS.
NFTrees will have versions for Northern and Southern Hemisphere, so that we can cover our global user-base!
Timepieces will be a similar NFT collection. These fully on-chain NFT watches will tick according to time in real life, and the art itself will dynamically update to always present the correct time.
Users will be able to choose a timezone upon mint, so that their Timepiece displays their local time.
Red and Green Salsa are making a comeback, this time as SalsaDAO NFTs! Upon mint, users will receive a Red or Green Salsa NFT with a unique label.
These NFTs will mark our first step to offering physical SalsaDAO merch! By minting a Salsa Bottle, users will be able to get a unique physical Salsa Bottle souvenir!
We are setting up communications with reputable hot sauce supply and fulfillment firms to get this done! More info to come.
We’ve dropped a lot of information around ArtDEX today. Please try out the ArtDEX Beta on Ghostnet, and give us your feedback on our Discord!
Look forward to more information on ArtDEX, SalsaDAO NFTs, and more.