UGS Labs Announces the Opening of Solana’s First Automated Liquidity Provider for NFTs
Solana’s NFT project Underground Society has announced the opening of its Core Beta on March 7th, allowing users to buy and trade collections including DeGodsNFT, y00tsNFT, SolanaMBS, DegenApeAcademy, SmythsNFT, and GalacticGeckoSG. To gain access to the beta, users must hold two or more Underground Society (UGS) NFTs.
ᴄᴏʀᴇ ʙᴇᴛᴀ ɪꜱ ɴᴏᴡ ᴏᴘᴇɴ ⚠️
ᴜꜱᴇʀꜱ ᴄᴀɴ ʙᴜʏ ᴀɴᴅ ᴛʀᴀᴅᴇ ᴛʜᴇ ꜰᴏʟʟᴏᴡɪɴɢ ᴄᴏʟʟᴇᴄᴛɪᴏɴꜱ:
ᴍᴏʀᴇ ɪɴꜰᴏʀᴍᴀᴛɪᴏɴ ʙᴇʟᴏᴡ… pic.twitter.com/iNk1Ld5w92
— Underground Society 🐇 (@UGS_Labs) March 6, 2023
The above collections can be purchased for as low as 33.3% of their original price. The beta is now live on http://betacore.ugslabs.xyz/core, and the liquidity pools are open for users to contribute and create pools to power Core. Liquidity pools are essential for scaling Core, and those who help scale will be rewarded.
Core is Solana’s first Automated Liquidity Provider (ALP). The project aims to solve the liquidity issue in the Solana NFT marketplace by providing the required liquidity and risk tolerance to users. If a user has the required on-hand liquidity but lacks risk tolerance, Core provides the risk tolerance. If a user has the required risk tolerance but lacks the on-hand liquidity, Core provides the liquidity.
Core is available for anyone to use, and its goal is to provide a seamless experience for NFT traders on Solana. Underground Society hopes that the project will contribute to the growth and development of the Solana NFT ecosystem.
Underground Society’s Core Beta is a significant step forward for Solana’s NFT ecosystem. With Core, users can enjoy a seamless and hassle-free trading experience while also increasing liquidity for the network. Core’s launch is a positive development for Solana, and it’s exciting to see how it will impact the NFT space.
What is Underground Society
The Underground Society is a collection of 5,000 NFTs that offers unique benefits directly tied to UGS Labs’ products and services. The creators aimed to provide maximum value to the holders by incorporating Utility, Art, Lore, and Community. The collection features over 900 conditionally formatted layers, creating stunning artwork. Additionally, the creators have crafted a fleshed-out lore, including an entire universe with a monthly released prologue and chapters. The community has the opportunity to participate and take over how the story progresses, as there are three factions and five classes per faction. Through gamified and engaging systems, the factions compete for prizes and punishment, resembling a choose-your-own-adventure book.
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