BootstrapNFT is an NFT liquidity auction platform that provides healthy and stable price discovery for NFT assets by creating a liquidity market for NFT projects and conducting “Dutch auctions” (where the auction price will be decreasing from high to low).
Any issuer with an NFT can create an NFT vault on the BootstrapNFT platform. After minting NFT fragments, issuers can create their own liquidity startup pool and set liquidity pool weights, either linear or exponential curves, thus regulating the value of the token and preventing the price of new NFTs from spiking due to early speculation and hype.
BootstrapNFT is currently in the testing phase and supports test networks for several public chains such as Rinkeby, Aurora and Mumbai. As a user, you can log in to BootstrapNFT (http://bootstrapnft.org/), connect your wallet, select the desired test network and receive a sufficient amount of test coins for the following tests.
Create an NFT Vault
The NFT issuer can create a vault to support its NFT. Once the NFT vault is created, the issuer can set the relevant transaction rates and open the relevant transaction functions.
1. Choose to create an NFT vault, fill in the NFT asset address, vault name, the ERC-20 token symbol minted by this vault, and other relevant information.
2. Once the creation of the NFT vault transaction is confirmed on the chain, you will receive a notification and request to continue managing your NFT vault. Your vault will not be visible in the BootstrapNFT application until it is minted and published.
3. Start managing the vault, Note: Before you publish this vault, please make sure you have 1 and more NFTs. Select at least one NFT and click “Deposit NFTs” to deposit the vault.
4. Click on “Mint NFTs” to cast the specified NFTs as NFT fragments and confirm the transaction.
5. Enable the functions of Vault: minting, random redeem, target redeem, random swap, target swap, and confirm the swap on the chain.
Enable Minting — The most important part of creating a vault is to allow users to mint their NFTs.
Enable Random Redeem — Allows users to randomly redeem NFTs from your vault.
Enable Target Redeem — Users will be able to choose which NFTs they redeem from the vault, and you can set additional fees in the Fees section.
Enable Random Swap — allows users to randomly exchange NFTs from your vault.
Enable Target Swap — allows users to exchange NFTs from your vault in a specific way.
6. You can set minting fees, redeem fees and target redeem fees on each vault and confirm them on the chain.
By default, all new vault are set to a 5% minting fee (meaning you receive 0.95 tokens for each NFT minted), 0% redeem fee (so 1 token always redeems 1 random NFT from the vault) and 5% target redeem fee (1.05 tokens are needed to select the NFT you want from the vault).
7. After adding one or more NFTs to the new vault, you will have the option to publish the vault.
Creating a Shard Launch Pool
NFT issuers can create startup pools that support their vault NFT shards. They can add and remove liquidity, set associated fees, set weighting ratios for associated Tokens, and other related functions.
1. In the “Create pool” screen, you can set custom token symbols and names.
2. You can also specify the swap fee and the initial supply of the token. And set the relevant parameters as needed, and select approve for on-chain confirmation.
Can pause swapping — The controller can pause swapping.
Can change swap fee — The controller can change the swap fee after deployment, ranging from 0.0001% to 10%.
Can change weights — The controller can change weights (transfer tokens to keep the price the same) at will.
Can change tokens — The controller can add/remove tokens.
Whitelist LPs — Unless their address is added to the whitelist, anyone can add liquidity to the pool after it is created.
Can change the cap — This limits the total BPT supply.
3. Once all tokens are approved, the button will display “Create”, confirm the message, click Create, and perform the on-chain confirmation again to successfully create a startup pool.
Tips: If the token you want to add is not listed in the token selector panel, you can add any custom token by pasting its address in the search field.
Important: Make sure the custom token you want to add is ERC20 compliant.
4. In the “explore pool” screen, select the startup pool you created and set its relevant parameters.
Click on “add liquidity” to add the appropriate liquidity to the startup pool.
Click on “setting” to set the specific parameters of the startup pool.
- Set whether you want to stop your pool.
- Set the swap fee.
- Set the cap.
- Add lp whitelist.
- Set the “pool controller”.
- Manage token weights and the system will automatically update your drop.
When everything is set up, congratulations you are ready for your NFT liquidity auction journey! When you encounter any problems while testing and need help or want to suggest better ideas for the project, you can join our Telegram (https://t.me/bootstrapnft) to get in touch with us.