After many months of hard work, we are excited to announce the launch of Phantom Exchange — the world’s first exchange on trading “NFT floor-price”, powered by the Phantom Protocol. This marks a significant milestone in the project’s history.
NFT Floor-price refers to the lowest price that is currently available on Opensea and best represents the market valuation of an NFT project.
Phantom Exchange provides the world’s first synthetic asset on fractionalized NFTs, anchoring the floor price of Top NFTs (such as CryptoPunks, BAYC, and The Sandbox) and allowing traders to invest with as little as 1 USD.
The Phantom Exchange will go live on December 3 at 12:00 UTC at https://bsc.phm.finance/exchange on Binance Smart Chain.
The following fragmented NFT synthetic assets will be available on Launch Date:
- Crypto Punks — pPUNKS
- The Sandbox — pSAND
- The Bored Ape Yacht Club — pBAYC
And more assets and features will be added.
What benefits does Phantom Exchange offer to traders?
Phantom Exchange significantly lowers the entry barrier to NFT investment by providing a tradable synthetic asset that anchors to a fraction of a real-time NFT floor price.
This innovative decentralized financial instrument also provides traders with the following benefits:
- Access to Top NFTs — participants can trade popular NFTs such as CryptoPunks, Sandbox, BAYC, and more in one place;
- Fractional trading — participants can invest in the assets at a fraction of the NFT’s price, sometimes as low as $1;
- Unlimited liquidity — Buy/Sell your NFT-anchored assets at any time, with No Slippage
For example, to invest in hot NFT projects such as CryptoPunks and BAYC, investors had to purchase an entire NFT on the market. For example, The cheapest BAYC NFT costs 49.49 Ether.
However, with pBAYC — the fractional NFT floor price asset on Phantom Exchange — the synthetic asset that anchors the BAYC floor price costs only 0.004949 Ether.
With each pBAYC being equal to 0.0001 of the real-time floor price, traders now can buy and sell pBAYC with pUSD on Phantom Exchange to participate in the star project’s derivatives trading.
Furthermore, as a blockchain native token, pBAYC can be further subdivided, allowing investors to begin their investment with 0.1 or even 0.01 pBAYC.
Another advantage of Phantom Exchange is that it supplies every trade with real-time transparent oracle prices. Traders of NFTs can trade with no slippage while being unaffected by counterparty volume or market liquidity.
How to trade on the Phantom Exchange?
You’ll need pUSD to start trading on Phantom Exchange. Here are 2 ways to get pUSD in your wallet:
1. Stake PHM to mint pUSD ( Eligible stakers shares 70% of fee incomes )
Placing a trade
To place a trade on Phantom Exchange, please ensure you have pUSD in your wallet ( MetaMask, Binance Wallet, or Wallet Connect )
1. Choose a pair from the assets panel.
2. Enter the order size you wish to exchange. Complete the transaction.
3. Confirm the transaction in your wallet.
- Phantom Exchange charges a 0.3% fee on each transaction.
- Eligible PHM stakers will share 70% of the fee revenue, with the remaining 30% used to buy back PHM tokens on the Market to maintain a healthy Deflationary mechanism.
Notes to PHM stakers:
- PHM stakers with a collateral ratio greater than 800% are eligible to share 70% of Phantom Exchange’s handling fee.
- There may be some fluctuations in your debt when Phantom Exchange goes live, as your debt will be calculated based on the percentage of your lent pUSD and the platform’s current debt pool size.
About Phantom Protocol
Phantom Protocol is a next-generation synthetic asset and NFT trading solution incubated by Conflux and invested by LD Capital, NGC Ventures, Kyros Ventures, Gate Labs, DFG, MXC among others.
Phantom enables individuals to create synthetic assets (pAssets) in a decentralized manner, allowing more people to participate in a diverse range of investments by lowering entry barriers.
🔗 Twitter: https://twitter.com/PhantomDefi
🔗 Telegram: https://t.me/PhantomProtocol