What is FloorDAO?

FloorDAO enables decentralized NFT market-making. It allows the FloorDAO treasury to maintain high NFT liquidity. OlympusDAO's bond and rebase procedures can be utilized to accumulate NFT liquidity for strategies like NFTX vaults.

Method

To find the acquired metrics on this dashboard I used ethereum.core.ez_nft_transfers table and folterd it by ORIGIN_FUNCTION_SIGNATURE in ('0x09f6a2f9') to find bonding transactions and ORIGIN_FUNCTION_SIGNATURE in ('0xd62fbdd3') to find redeemed transactions.

Analysis

In the above charts we can see the count and percentage shares of minting ERC721 as bond.

Daily count of transactions to redeem gFLOOR and daily unique users are shown in the above charts.

The cumulative growth of both of them are depict too.

Discord:0xHaM☰d#8391

Q1. How does FloorDAO accumulate and provide liquidity? Choose one recently closed bond repository and analyze user “bonding” behavior.

How does it work?

Decentralized exchanges like NFTX leverage Uniswap V2 to create quick liquidity for buyers and sellers. NFTX pools NFT floor items in a vault, which mints a fungible ERC20 token, PUNK, that can be exchanged on exchanges like Sushi. These tokens can be burned to redeem vault NFTs. This technique creates a marketplace where buyers buy PUNK on Sushi to redeem CryptoPunk NFTs from NFTX and sellers mint PUNK from their NFTs to sell on Sushi. Market makers collect Sushi trading fees and NFTX vault fees in vault tokens. NFTX costs range from 1–10%, and yields typically exceed 100% APR. Decentralized exchanges like NFTX exist but lack deep liquidity for these coins, limiting their DeFi market adoption. FloorDAO will establish deep liquidity for community-voted NFTs, starting with CryptoPunks.

Bonding

Bonding is a mechanism that enables the sale of specific assets to the protocol in exchange for its native tokens.

You can mint $FLOOR at a discount by tying specific assets to the FloorDAO treasury.The Policy team will choose bonded assets based on the FloorDAO's current value. This might be vault tokens (i.e. MAYC, WIZARD, PUNK) to improve FloorDAO single-sided staking or WETH to couple such vault tokens to boost liquidity pool staking or increase reserves to sweep new collections. To begin with, FloorDAO exclusively accepts the Cryptopunks NFTx vault vToken, $PUNKS, as a payment method.

Coclusions

• More than 92% of bonds are belongs to Milady collections and 7.5% to Mutant Ape Yacht Club.
• Most number of transactions for redeem are took placed on March 15th with 19 tx, and 17 unique users, also 14.1k was the most daily amount of redeemed on these day.
• More than 5.7k ERC721 was minted and in contract, 182.5k $gFLOOR was redeemed.