In this section, we will discuss the "change" feature in custom pools, which allows users to exchange one of their NFTs for any other NFT in the pool for a fixed fee set by the pool owner. This feature adds flexibility and convenience for users looking to trade NFTs in custom pools. For example, you could change any Milady that you hold with any other Milady in the pool for a small fee.
NFT Change Process
The NFT change process in custom pools follows these steps:
Select the pool: The user chooses a custom pool that has the NFT change feature enabled and contains the desired NFT they want to acquire.
Input the NFT to change: The user selects the NFT they want to trade (change) from their collection.
Select the desired NFT: The user browses the available NFTs in the custom pool and selects the one they want to acquire.
Review the fixed fee: The user reviews the fixed fee set by the pool owner for the NFT change process. This fee is separate from the custom trading fees applied to swaps in the pool.
Confirm the change: If the user is satisfied with the fixed fee and the selected NFT, they confirm the change.
Execute the change: The custom pool processes the change, exchanging the user's input NFT for the desired NFT in the pool. The input NFT is now part of the pool's liquidity, and the user receives the desired NFT in their collection.
Apply the fixed fee: The fixed fee for the NFT change is applied, and the fee is distributed to the pool owner as a reward for facilitating the change.
Benefits of NFT Change in Custom Pools
The NFT change feature in custom pools offers several benefits to both users and pool owners:
Flexibility: Users can directly exchange their NFTs for any NFT in the custom pool without having to perform multiple swaps with reserve assets.
Convenience: Users can quickly change their NFTs, making it easier to acquire desired NFTs and enhance their collections.
Additional revenue for pool owners: Pool owners can earn extra income through the fixed fees generated by the NFT change process.
By enabling the NFT change feature in custom pools, pool owners can provide additional value and convenience to users, making their pools more attractive and competitive in the market.