Sudoswap Airdrop Review: Able to Claim Free SUDO Tokens

About Sudoswap Airdrop

Sudoswap Airdrop AMM is a minimal, gas-efficient AMM protocol for facilitating NFT (ERC721s) to token (ETH or ERC20) swaps using customizable bonding curves. Liquidity providers (LPs) can deposit into single-sided buy or sell pools, or provide both sides with a spread to capture fees.

As already guessed in retroactive airdrop overview, Sudoswap is airdropping free SUDO to sudoAMM liquidity providers and 0xmons NFT holders. The snapshot was taken on January 15th, 2023.

How To Join Sudoswap Airdrop

1. Visit the Sudoswap airdrop page.
2. Connect your Ethereum wallet.
3. If you’re eligible, then you will be able to claim free SUDO tokens.
4. sudoAMM liquidity providers (TRADE pools only) and 0xmons NFT holders by the snapshot date are eligible for the airdrop.
5. The snapshot was taken on January 15th, 2023.
6. SUDO is initially non-transferable. Transferability will be enabled by a standard governance vote.
7. For more information regarding the airdrop, see this article.

How Does Sudoswap Work?

Sudoswap is an AMM protocol for NFTs, which means that users buy from or sell into liquidity pools instead of directly trading between themselves. If you’re familiar with Uniswap, it’s a similar concept but for NFTs.

Here’s how it works: 1. Liquidity providers deposit NFTs and/or ETH (or an ERC20 token) into liquidity pools. They choose whether they would like to buy or sell NFTs (or both) and specify a starting price and bonding curve parameters. 2. Users can then buy NFTs from or sell NFTs into these pools.

Every time an item is bought or sold, the price to buy or sell another item changes for the pool based on its bonding curve. 3. At any time, liquidity providers can change the parameters of their pool or withdraw assets.

What Is A Liquidity Pool?

A pool, or liquidity pool, is a smart contract that allows you to instantly swap between two assets. On sudoswap, the most common type of pool is an NFT<>ETH pool, which means that anyone holding NFTs from that collection can instantly swap them for ETH, or vice versa.

Pools use a bonding curve to determine the relative price at which one asset is traded for another. The more an asset is bought from the pool, the more expensive it becomes. Conversely, the more an asset is sold to the pool, the cheaper it becomes.

Ideally, a pool contains some amount of both assets, enabling users to swap back and forth between them. However, it’s also possible to create a pool with just one asset, meaning that users will only be able to buy that asset from the pool.

A bonding curve is a mathematical formula which defines the relationship between an asset’s price and its supply. Bonding curves are a key feature of automated market makers since they are used to algorithmically adjust asset prices.

Buying and Selling NFTs

The main features of sudoswap are buying from or selling into existing NFT liquidity pools. This page contains step-by-step instructions on how to do so.

Buying NFTs

1. Go to the collections page and select a collection.
2. Select the NFTs you want to buy to add them to the cart:

Direct Pool Swap

When buying or selling NFTs using the steps above, sudoswap will attempt to automatically route your order to the liquidity pool with the best price.

In times of high demand, you may wish to buy or sell from a specific liquidity pool while specifying a maximum slippage tolerance. This is called a Direct Pool Swap.

1. Go to the Collections page and select a collection.
2. Open the Pools tab to see a list of liquidity pools.
3. Click on the pool with the best price for your buy or sell, making sure its ETH/NFT balance is sufficient.
4. Select Direct Pool Swap at the top-left of the pool page.
5. Click on Buy or Sell and choose which NFTs you would like to buy/sell.

Withdraw

Yes. At any time, you can withdraw any ERC20, ERC721, or ERC1155 tokens from your liqudity pools using the “Withdraw Other Tokens” feature on the pool’s page. Note that you can only withdraw tokens from pools you have created.

Launching on Sudoswap

There is no special procedure to launch an NFT collection on sudoswap. However, if you’d like to make sudoswap part of your launch, you can: 1. Deploy an NFT smart contract as you would for any other collection. 2. Mint part or all of the supply to an address you control. 3. Create a liquidity pool on sudoswap with those NFTs. 4. Tell collectors to buy from the liquidity pool.

When launching a collection like this, it is advised to deposit no more than a few hundred NFTs in each liquidity pool. Depositing too many NFTs in a single pool may cause poor performance for collectors trading through the sudoswap website.