Magic Eden AMM Launched With 0 Attractive Maker Fee

Key Points:

• The Magic Eden AMM pool has been launched, enabling users to operate as buyer LPs, seller LPs, and double-sided LPs.
• Maker fees are now zero, and all liquidity pools have a fee multiplier of 1.3x.
• Fee multipliers will be distributed to liquidity pool providers.

NFT marketplace Magic Eden announced the launch of the Magic Eden AMM pool, allowing users to act as buyer LPs, seller LPs, and double-sided LPs.

Currently, Maker fees are 0 (until further notice), and all liquidity pools have a 1.3x fee multiplier ($50,000 prize pool). All fee multipliers will be sent to liquidity pool providers.

Users can handle a single-item sell or purchase order, but maintaining multi-item sale or buy orders (LPs) may soon become burdensome. Magic Eden’s AMM makes it simple to handle sell-side, buy-side, and double-sided LPs of any size.

There were two kinds of LPs: buy-side LPs and sell-side LPs.

A buy-side LP is comparable to numerous collection offerings with varying pricing. Instead of entering prices one by one, describe your complete buy-side LP in words such as pricing curve type, the highest purchase price on the curve, number of single buy orders on the curve, incremental delta amount on the curve, and royalty-payment enabled.

A sell-side LP is analogous to several listings with varying pricing. Instead of entering prices one by one, just define the complete sell-side LP in words such as pricing curve type, lowest sell price on the curve, set of NFTs that must be included in the sell-side LP, incremental delta amount on the curve, and royalty payment necessary on each sale.

There is also a double-sided LP is one that has a buy-side and a sell-side. It functions similarly to a standard market maker in that users may trade both sides of the market. A double-sided LP’s author may establish an LP-Fee to collect fees as a percentage of each purchase or sell transaction using the LP. This implies that LP owners will be able to collect fees on all LP transactions.

Magic Eden AMM Pools make it easy to handle sell-side, buy-side, and double-sided LPs on Magic Eden. Users can quickly make, edit, and cancel orders with the right technology, regardless of how big their LP is.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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