Under the background of the rapid growth of NFT market, there are still challenges in this area, including low liquidity due to the low accessibility and lack of utility of NFTs, poor price discovery and valuation occur when an NFT lacks liquidity, and the liquidity of rare NFTs, etc. Also, the illiquidity of NFTs is causing volatility in the NFT space. Users find it difficult to gain fast liquidity, as they are forced to sell rare traits under market value to gain it. To address the series of problems, ShredN was in the market. Since ShredN’s launch, it has been offering solutions and helping users free up liquidity while ensuring fair value for NFT.
ShredN believes the future is multichain. Starting with Ethereum, #BNB, and Polygon, ShredN will continue to add new chains based on the direction from the DAO. Being a protocol dedicated to perfectly solving the low liquidity problem of NFTs and to set up different liquidity solutions for different types of NFTs, ShredN aims to offer more options, more flexibility, and more potential for profits to all users.
To stand out in the market, there are some features that make ShredN unique. First of all, the ShredN protocol covers a variety of liquidity solutions, including fragmentation, NFT AMM, and the creation of trading strategies for NFT traits. Through Shredn users can choose the right solution for their individual needs. In order to make the price discovery of NFTs smoother and more liquid, ShredN will aggregate all existing NFT liquidity solution platforms. Moreover, the Multi-chain function is in line with the trend of the market. ShredN’s vision is to enable all NFTs to unlock and access liquidity. To this end, ShredN will support all public chains where NFTs exist. In addition, ShredN is built with the end user in mind. Because of this, the platform will include a marketplace aggregator to ensure users can buy at the lowest price possible and sell at the highest price.
By improving the liquidity of NFTs, ShredN can reduce slippage, improve price discovery and help users maximize the locked value of their portfolios. After this, it’s down to the #DAO to decide which chains we add next. Having witnessed the good performance ShredN has on Ethereum, BNB, and Polygon, users can vote on where ShredN will go next. With its targeted solution and user-oriented approach, ShredN is deemed to make a great contribution to the industry.
Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.