Enable zero-fee inter-collection trading/swaps for Nouns and Nouns derivatives while funding a self-sufficient tool for other collections to trade NFT to NFT.
Noun “OTC” trading is currently inefficient in a web3 environment and is usually done in Discord or other social media. On-chain execution can be coordinated with an added layer of curation/search to simplify these otherwise complex trades. Interested in a noun for 100 lil nouns + 15ETH? Looking to swap your punk for two nouns? Looking to pay additional WETH to trade your higher noun ID for a sub-100 ID? These trades can be posted to the atomic0 exchange with no fees, be executable by anyone, and can all be open at once until one of them is filled.
Today, there is no NFT-to-NFT exchange, only OTC trading tools. Nouns can enable this radically new style of trading, which is uniquely possible with NFTs while incentivizing Nouns proliferation.
Across the entire swap exchange experience, the benefits of Noun-involved trades are highlighted:
The atomic0 team will use funding from this proposal to meet the deliverables and timeline (below) and guarantee zero-fee swaps where Nouns + derivatives are involved for the lifetime of the atomic0 exchange. Where Nouns swaps are found throughout the experience, for example, on an individual punk page with a Noun-involved swap, the swap is highlighted as being a “Nounish” zero-fee swap. Swaps comprised solely of non-Noun assets (BAYCs, Punks, etc.) will be subject to a 0.5% gross fee on the estimated value of the swap.
Individual punk page with an example of noun proposed bids/swaps:
Asset selection:
The swap creation page post-asset selection:
We launched a proof of concept zero-fee NFT marketplace which was the first on Ethereum to have both zero fees and optional royalties (back in June). Several Nouners used it to field OTC interest in their NFTs, but notably, ayyybee used it to sell Noun #227, and vapeape (nounder) used it to sell his V1 Cryptopunk. Many other traders and collectors in the space have executed trades on the platform, including Franklin, who actively lists his apes on atomic0.com. While I don’t yet have a Noun, I’m still closely watching and bidding on the auctions. Last month, we also built the first WETH, non-custodial bidding solution for punks. This proposal was made possible with Noun delegations by cryptopunks.eth and brennen.eth. A big thank you to all the Nouns who gave feedback on this prop before it went on-chain!
Why not build this as a stand-alone Nouns-specific website (e.g., nouns-swaps.com)?
How does this contrast with Proposal 46 (Marketplace Pod Proposal)?
Wen open source?
How does this contrast with existing OTC tools such as NFTTrader, Sudoswap OTC, and Swap Kiwi?
Will this require ongoing Nouns funding for maintenance?
Do you have a plan for on-chain swap storage?
29 ETH to 0x12f3da22832ade66d63c624b8c40726db1124faf (atomic0.eth, a multisig controlled by Robert and Alex)
Enable zero-fee inter-collection trading/swaps for Nouns and Nouns derivatives while funding a self-sufficient tool for other collections to trade NFT to NFT.
Noun “OTC” trading is currently inefficient in a web3 environment and is usually done in Discord or other social media. On-chain execution can be coordinated with an added layer of curation/search to simplify these otherwise complex trades. Interested in a noun for 100 lil nouns + 15ETH? Looking to swap your punk for two nouns? Looking to pay additional WETH to trade your higher noun ID for a sub-100 ID? These trades can be posted to the atomic0 exchange with no fees, be executable by anyone, and can all be open at once until one of them is filled.
Today, there is no NFT-to-NFT exchange, only OTC trading tools. Nouns can enable this radically new style of trading, which is uniquely possible with NFTs while incentivizing Nouns proliferation.
Across the entire swap exchange experience, the benefits of Noun-involved trades are highlighted:
The atomic0 team will use funding from this proposal to meet the deliverables and timeline (below) and guarantee zero-fee swaps where Nouns + derivatives are involved for the lifetime of the atomic0 exchange. Where Nouns swaps are found throughout the experience, for example, on an individual punk page with a Noun-involved swap, the swap is highlighted as being a “Nounish” zero-fee swap. Swaps comprised solely of non-Noun assets (BAYCs, Punks, etc.) will be subject to a 0.5% gross fee on the estimated value of the swap.
Individual punk page with an example of noun proposed bids/swaps:
Asset selection:
The swap creation page post-asset selection:
We launched a proof of concept zero-fee NFT marketplace which was the first on Ethereum to have both zero fees and optional royalties (back in June). Several Nouners used it to field OTC interest in their NFTs, but notably, ayyybee used it to sell Noun #227, and vapeape (nounder) used it to sell his V1 Cryptopunk. Many other traders and collectors in the space have executed trades on the platform, including Franklin, who actively lists his apes on atomic0.com. While I don’t yet have a Noun, I’m still closely watching and bidding on the auctions. Last month, we also built the first WETH, non-custodial bidding solution for punks. This proposal was made possible with Noun delegations by cryptopunks.eth and brennen.eth. A big thank you to all the Nouns who gave feedback on this prop before it went on-chain!
Why not build this as a stand-alone Nouns-specific website (e.g., nouns-swaps.com)?
How does this contrast with Proposal 46 (Marketplace Pod Proposal)?
Wen open source?
How does this contrast with existing OTC tools such as NFTTrader, Sudoswap OTC, and Swap Kiwi?
Will this require ongoing Nouns funding for maintenance?
Do you have a plan for on-chain swap storage?
29 ETH to 0x12f3da22832ade66d63c624b8c40726db1124faf (atomic0.eth, a multisig controlled by Robert and Alex)