NFT20 is a permissionless p2p protocol to tokenize NFTs and make them tradable on decentralized exchanges such as UniSwap or Sushiswap.

Anyone with an NFT can create a new pool or add his NFT to an existing pool and get ERC20 Token derivatives of their NFTs in a permission-less way, those tokens can be transferred and traded on DEXes right away. You can also swap your NFT for any other NFT of the same pool, no need to tokenize.

NFT20 also allows you to own a fractional share of an NFT in the collection. For example, if you own 50 DEGENZ20 then it means that you own 50% of a Floor DEGENZ ( cheapest DEGENZ).

What is an NFT20 Pool and what can you do with them?

The NFT20 Pool contains DEGENZ that other users have deposited and you can perform different actions on it using DEGENZ20 . DEGENZ20 is an ERC20 token created specifically for the DEGENZ NFT20 Pool and it can be traded on Uniswap.

Use cases for the NFT20 pool and DEGENZ20:

1. You can deposit a DEGENZ into the pool for 95 DEGENZ20 tokens.

2. You can use 100 DEGENZ20 tokens to swap out any DEGENZ in the pool.

3. You can swap a DEGENZ with any other DEGENZ in the pool.

4. You can buy directly using ETH from the pool.

5. You can exchange your ETH for DEGENZ20 on Uniswap.

6. You can exchange your DEGENZ20 tokens for ETH on Uniswap when there is enough liquidity.

7. You can provide Liquidity for DEGENZ20-ETH Pair and earn rewards in $MUSE.

Note: All DEGENZ are treated equally in the pool so you should only deposit DEGENZ that you think are common (i.e Floor DEGENZ)

We will go over each of the above use cases in more detail below.

1. Select the “Swap NFT to NFT” toggle above.

2. In “FROM”, select a DEGENZ from your wallet

3. In “TO”, select that cute DEGENZ from the pool that you like better

Note: Unlike using DEGENZ20 , you can swap a DEGENZ in your wallet for another DEGENZ in the pool without the 5% fee and only pay a gas fee.

You can deposit a DEGENZ into the pool and in return, you will get 95 DEGENZ20 tokens. The remaining 5 act as a 5% fee and get distributed to $MUSE token holders.

If you click on the arrows between the “FROM” and “TO” fields, it will let you change the direction of the swap (just like Uniswap). Now you can swap 100 DEGENZ20 for a DEGENZ !

There’s also a new feature where you can also directly buy a DEGENZ from the pool using ETH without dealing with DEGENZ20. The NFT20 platform will do all the Uniswap operations for you in 1 transaction. According to the NFT20 Team, there’s a 5% fee to it but it might be more cost-efficient since you can save on gas fees.

NOTE: This feature is available after the uniswap pool creation by the community.

Since DEGENZ20 is an ERC20 token, you can directly get it from Uniswap. You can also directly click on this link to access the DEGENZ20 Uniswap exchange page.

NOTE: This feature is available after the uniswap pool creation by the community.

Similarly, you can exchange DEGENZ20 for ETH on Uniswap. The great part about this is that you do not need to look for a buyer (compared to OpenSea). Here’s the Uniswap link.

There will need to be enough liquidity in DEGENZ20 in order to perform this operation.

You can provide Liquidity to the DEGENZ20/ETH pair .

Add liquidity to the Uniswap DEGENZ20/ETH pair. You will need to provide DEGENZ20 and ETH in order to do it.

The Floor Price of DEGENZ on NFT20 and the token price of DEGENZ20 fluctuates with the buy and sell transactions.

If more people buy DEGENZ20 tokens, then the DEGENZ20 token price and the Floor Price (100 DEGENZ20) of a DEGENZ on the NFT20 pool go up. If more people liquidate their DEGENZ20 tokens for ETH, the price goes down.