Tutorial|How to use BootstrapNFT on Mumbai Testnet

BootstrapNFT
5 min readSep 9, 2022

Hi folks. We have good news for you, BootstrapNFT is now available on Polygon’s Mumbai testnet. This tutorial will walk you through how to use BootstrapNFT on the Mumbai testnet and give you an overview of the essential testing considerations.

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 auction prices are decreasing from high to low).

The current BootstrapNFT page integrates three significant sections, NFT Store, NFT Fragmentation, and NFT Auction. BootstrapNFT APP page http://bootstrapnft.org/

To use BootstrapNFT on the Mumbai testnet, first, you need to do some preparation work.

Add Mumbai Test Network to your Metamask

Method 1

To connect to the Mumbai Testnet, you must do some configuration of your Metamask wallet.

1). First, open the extension and click on the “Ethereum Mainnet” button at the top.

2). Select “Custom RPC.”

3). Enter the following settings.

Network name: Mumbai Testnet

New RPC URL: https://rpc-mumbai.maticvigil.com/

Chain ID: 80001

Currency symbol (optional): MATIC

Block Explorer URL (optional): https://polygonscan.com/

Once you have added everything, you can click “Save.” Congratulations on your successful switch to the Mumbai testnet!

Method 2

1). Login to the BootstrapNFT page, http://bootstrapnft.org/. Click “connect” to connect your wallet.

2). Select “Mumbai testnet,” and you will be prompted with the message “ Does not match wallet network. Switch network to Mumbai .” Click “switch” to switch networks.

3). In your wallet, authorize and click “switch network”.

Get tokens from Mumbai taps

1). Go to the Mumbai Taps website at https://faucet.matic.network/.

2). Select the token you want to get from the faucet (e.g., MATIC token), select the default network (Mumbai), and enter your Metamask wallet address in the text box.

3). Click the “Submit” button and wait for the tokens to enter your wallet.

How to use BootstrapNFT

Below, we will introduce how to use BootstrapNFT from the user and issuer’s perspectives.

Users

Currently, users can buy NFTs at BootstrapNFT; they can exchange their digital assets for NFT pieces and redeem the corresponding NFTs at the vault for targeted redemption or random redemption.

Meanwhile, if users want to sell NFTs, they can cast NFTs into NFT fragments at BootstrapNFT and then redeem NFT chips for digital assets in the startup pool. Or they can directly save the redeemed NFTs into Opensea for secondary selling.

Step 1: Redeem NFT Fragments

Users can redeem NFT fragments with common digital assets in the startup pool.

Operation steps

1. Enter the digital asset contract address; please make sure you enter the correct address. And make sure the appropriate digital asset balance is sufficient.

2. Enter the number of digital assets you want to put in and click “swap” to redeem the corresponding NFT pieces.

Step 2: Vault Redemption of NFT

Users can redeem the corresponding NFT fragments into NFT on the vault, either by targeted redemption or random redemption.

Link to the steps: https://bootstrapnft.github.io/docs/#/en/tutorial/redeeming

Step 3: Cast NFT fragments

Users can cast the corresponding NFT as NFT fragments in their NFT collection.

Link to the steps: https://bootstrapnft.github.io/docs/#/en/tutorial/minting

Step 4: Exchange NFT shards for digital assets

Users can exchange NFT fragments for digital assets in the startup pool.

Link to the operation steps: https://bootstrapnft.github.io/docs/#/en/tutorial/swap

Issuer

Any issuer that owns NFTs can create a pool of NFT shards. After minting NFT shards, issuers can create their liquidity startup pools and set custom liquidity pool weights, either linear or exponential curves, thus regulating the value of the tokens and preventing the price of new NFTs from spiking due to early speculation and hype.

Step 1: Create NFT Fragment Pools

NFT issuers can create sharded vaults that support their NFTs. Once the burial is made, the issuer can set the relevant trading rates and open the relevant trading functions.

Link to operation steps: https://bootstrapnft.github.io/docs/#/en/tutorial/vault-creation

Step 2: Casting NFT shards

The issuer needs to deposit at least 1 NFT in the vault and cast the specified NFT into the corresponding NFT shard.

1. Select at least one NFT and click “Deposit NFTs” to deposit it into the vault.

2. Click “Mint NFTs” to cast the specified NFT into NFT shards and confirm the transaction.

Step 3: Create Shard Launch Pool

NFT issuers can create starter pools that support their vault NFT shards. They can add and remove liquidity, the associated fees, the weighting ratio of the associated Tokens, and other related functions.

Link to action steps: https://bootstrapnft.github.io/docs/#/en/tutorial/create-pool

If you encounter any problems while testing, 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.

🌐BootstrapNFT Social Media

Website: http://bootstrapnft.org/

GitHub: https://github.com/bootstrapnft

Twitter: https://twitter.com/bootstrapnfts

Telegram: https://t.me/bootstrapnft

Medium: https://bootstrapnft.medium.com

--

--

BootstrapNFT

NFT liquidity auction platform💎Participate in NFT transactions at a fair price. bootstrapnft.org