Splinterlands card liquidity SC proposal#346

A market is composed of “price takers” and “market makers”. Currently there is no possibility to build a true market for cards because you cannot place buy orders natively (only in peakmonsters 3rd party service at the risk of trusting purchase permission).

Basically, the goal is to make card markets more liquid.
How? By converting NFTs to tokens. (the reverse process should be integrated as well).

The premise is “all level-1 Zaku cards are fungible” (change Zaku for any other card).

The smart contract would tokenise level-1 cards so that they can be traded in bulk with order books on hive-engine.

Benefits over bidding system in peakmonster

• Permissionless
• More traders. Higher volumes.
• Native implementation. Orders will be visible directly in the hive-engine sidechain. (peakmonsters 3rd party marketplace is a hive sidechain on its own)
• More appropriate UI with candle and deph charts for traders
• Possibility to trade cards with 0% fee (the 5% fee only applies when exchanging a card in NFT format. Once the NFT is converted to a token, can be traded at zero cost)

1. This is much better done in other ways
2. This is much better done by someone else like Peakmonsters – rather than consuming the Splinterlands team’s valuable time and mindshare
3. The card markets are already liquid – particularly for level 1 cards
4. What is the difference between Peakmonster’s listed and bid prices and the order books that you are proposing – other than slight UI changes for very large bulk purchases?

1. How?
2. You cannot do place BUY bulk orders in peakmonsters (at least n ot without providing your active key).
3. Not true. By definition a market needs market makers, which require the ability to place buy orders.
4. Requires active key.

Re 3. Peakmonsters bids are buy orders. (If you don’t believe so, please explain the distinction)

Re 2. Of course you can place bulk bids in Peakmonsters. (Maybe you should investigate available alternatives before suggesting that the SL team re-invent the wheel)

Re 2, 4. If you are EVER providing your active key, you are VERY foolish. If you are merely using your active key (i.e. you are using a keychain where the keyy never leaves your computer), what is the problem?

OK Mark, maybe I did not explain myself.

Yes you can do place bids for cards on peakd without giving active authority (which is great) yet you need to grant “purchase_permission”.

Hive-engine is a more appropiate marketplace for cards to be listed for the following reasons:

• Permissionless
• More traders. Higher volumes.
• Native implementation. Orders will be visible directly in the hive-engine sidechain (peakmonsters 3rd party marketplace is a hive sidechain on its own)
• More appropiate UI with candle and deph charts for traders
• Possibility to trade cards at 0% fee (the 5% fee only applies when exchanging a card in NFT format. Once the NFT is converted to a token, can be traded at zero cost)