UniSwap Users Can Now Trade NFTs On Its Native Protocol
UniSwap, the decentralized exchange (DEX), has announced that users can now trade nonfungible tokens (NFTs) on its native protocol.
It has been reported that as told by UniSwap, the function will initially feature NFT collections for sale on platforms including OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, X2Y2, Foundation, NFT20, and NFTX.
The announcement stated:
"To bring users the first-rate experience they've come to expect with UniSwap, we built the aggregator to deliver better prices, faster indexing, more unassailable smart contracts, and efficient execution."
However, UniSwap developers claim that users can save up to 15% on gas costs compared to other NFT aggregators when using UniSwap NFT. unifies ERC20 and NFT swapping into a single swap router. Integrated with Permit2, users can swap multiple tokens and NFTs in one swap while saving on gas fees.
The report said that the NFT aggregator is powered by the Universal Router smart contract and optimized by UX smart contract Permit2, both UniSwap inventions. According to the DEX, it "unifies ERC-20 and NFT swapping into a single swap router. Integrated with Permit2, users can swap multiple tokens and NFTs in one swap while saving on gas fees."
"We originally conceived Permit2 and Universal Router to improve our own products, optimizing gas costs, simplifying user transaction flows, and strengthening security. As we ideated, we realized that other applications could greatly benefit from integrating these contracts."
Thus, as part of launch efforts, UniSwap says it is airdropping approximately 5 million USDC to certain historical users of NFT aggregator Genie, based on a wallet snapshot on April 15, 2022, and offering gas rebates to the first 22,000 NFT users. The gas rebate will only run for two weeks and is capped at 0.01 Ether (ETH).