Wed 09 Nov 2022 ▪ 9:00 ▪
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Since its launch earlier this year, LooksRare, the new non-fungible token platform (NFT) is considered Opensea’s challenger. As an alternative to the main NFT sales platform, it is based on a rather low rewards and commission system. Furthermore, the anonymous developers of LooksRare are currently working hard to make it possible from now on to purchase NFTs in other markets directly on the platform. In other words, from launch, any NFT buy or sell operation performed on Opensea will be available on LooksRare from launch.
LooksRare makes the final changes before the launch of its NFT aggregator
Hope to cling to the mastodon that he is Offshore, you have to be innovative. LooksRare understands this and intends to make all NFT transactions listed on Opensea available as soon as the platform is launched. It is in this movement that the company wanted launch a public safety audit competition with Code4rena earlier this month.
This competition has a reward pool with a total value of USD 60,500. With this competition, developers want to correct possible malfunctions related to smart contracts before their launch. The terms of the competition are not yet known. However, interested parties should join Discord Code4rena and visit their site for all the information you need
The final idea is to set up an NFT aggregator on the platform. An aggregator is the set of smart contracts which takes into account the trade data of many liquidity markets. This set of smart contracts also takes care of the execution of transactions. With the only difference that it will be in a single chain transaction.
LooksRare’s modus operandi is not insignificant. In fact, this implementation of an aggregator will be used to make purchases of greater importance. Plus, the ability to wholesale OpenSea NFTs directly from LooksRare.
The launch of the NFT aggregator on LooksRare will be a good thing for the industry largely dominated by Opensea. The launch date is still pending. M.But, as far as the competition is concerned, it will take place from 8 to 12 November. Once the results are tangible, there will be improvements to better prepare for the final launch.
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PhD student in financial law and expert SEO web editor, Cédrick Aimé is passionate about cryptocurrencies, trading, etc. Thanks to his articles he naturally participates in the daily blockchain revolution for a better democratization of DeFi.