With 2.0, all listings are now in FTM, including artist royalties. No wrapped FTM (wFTM) but pure native FTM!
What about BRUSH?
On the marketplace specifically brush is still used in the following areas:
- Marketplace listing fee
- Minting NFT fee
- Collection fee (when released)
Paintswap also implemented a zap feature, so users can still use FTM in these places! It will automatically buy BRUSH through their exchange behind the scenes.
50% of all sale fees are used to buy and burn BRUSH!
Marketplace 2.0 Features
- All in native FTM
Sell, bid, offer, and receive NFT royalties with the native Fantom token. Converting to BRUSH is no longer needed!
- Edit the sale price at any point
Did you enter the marketplace too low or too high? No worries, you can just change the sale price or auction reserve price in seconds without re-listing or paying any extra fees (except the minimal network gas)! For auction, you are allowed to change as long as no bids have been placed.
- More freedom to cancel ongoing auctions
No more complicated rules and limitations. Cancel your listing at any time! … Unless it’s an auction with existing bids. However, even in this case, you are allowed to cancel during the initial 2h cancellation grace period.
- Delay your listing to another time
In most cases, you want to start your sale directly, no problem, but this new feature allows you to define an exact start time, for example, next Monday at 7.30 PM. Could come in handy when releasing your next collection all at once! Not yet activated in the UI but will be soon.
- Auto extension for close bids
Any bids made during the final 5min of an auction will now auto-extend the auction by another 5min, allowing anyone to compete in a fair bidding game and maximize the profit for the seller!
- Custom fee currency
When minting or listing NFTs you can choose to use FTM or BRUSH. The fee is fixed at 50 BRUSH per mint/listing. When using FTM, it’s auto-zapped into BRUSH and sent to the PaintSwap DAO fund.
- Sale fees will burn BRUSH
The new feature is that 50% of those will now be used to buy BRUSH and burn it! The other 50% is sent to the DAO fund to continue to support development around BRUSH and the marketplace, with new features planned.
- The landing page is now a marketplace
- Improved dark mode
PaintSwap is a decentralized finance powerhouse, combining an open NFT marketplace with a decentralized exchange (AMM) on the ever-growing Fantom Opera Network.