Hey everyone, piggydev here! It’s time for an update on leNFT. As I'm writing this the protocol is entering its 12th epoch, marking three months since mainnet deployment.
Now, the show must go on. This is the part where we ponder what we learned in the last few months and apply that knowledge to continue working on bringing sustainable liquidity to the NFT markets — that's leNFT v2.
leNFT v2 is everything that leNFT is, but better. It features ERC1155 support, uses ~25% less gas** and introduces IL-free NFT LP'ing while maintaining the liquidity tooling, composability and versatility that made original leNFT so cool. On the face of the limited resources available when building leNFT we decided to entirely focus on the trading part of the product for now, leaving the original lending product on stand-by.
Some more details about leNFT v2:
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There was an extra amount of attention put into optimizing NFT to NFT swaps, unlocking different liquidity routes for traded collections.
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The UI was refactored from the ground up.
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IL-free LP’ing means you can now create NFT-only liquidity positions. These NFTs are then used by the protocol to facilitate NFT-to-NFT swaps.
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There's no need to explicitly create pools anymore. You can deposit liquidity using any of your NFTs even if there’s no pool for them yet.
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ERC1155 liquidity is limited to 1 token ID per liquidity position
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It’s available for testing right now on the sepolia testnet.
The next couple of months will be spent refining v2 while we prepare for its mainnet deployment. Documentation is also coming soon.
Follow along on Twitter and Discord.
**Gas savings:
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Buy 721 Tokens
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Gas V1: 305,971
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Gas V2: 232,125
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Decrease: 24.21%
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Sell 721 Tokens
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Gas V1: 368,099
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Gas V2: 283,091
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Decrease: 23.11%
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Add Liquidity ERC721
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Gas V1: 467,791
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Gas V2: 448,209
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Decrease: 4.18%
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Remove Liquidity ERC721
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Gas V1: 176,436
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Gas V2: 133,811
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Decrease: 24.17%
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Add Swap ERC721 to ERC721
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Gas V1: 605,293
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Gas V2: 430,347
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Decrease: 28.94%
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