Coral Cube is among the fastest and most reliable NFT aggregators on SOL or the Solana blockchain. It is one of the go-to platforms for those who love SOL NFT, and that has increased since MagidEden started investing in it.
Coral Cube is popular for selecting the best digital assets on the Solana Blockchain platform. It is based on various filtering mechanisms. As a result, it is one the best places for traders to check which NFTs are going to flourish and which are not a good investment option.
Nevertheless, because of the royalty rights, the aggregators are facing backlashes. It is a lot like the OpenSea’s royalty concerns but different in some aspects.
What Are Coral Cubes?
Coral Cube is an NFT or non-fungible token marketplace. It is also an aggregator and AMM platform that makes digital assets smoothly turn into liquidity on the SOL.
With the AMM of the platform, traders are allowed to sell their NFTs immediately through the liquidity pools. This method of selling does not require a seller to wait for someone to agree on the price for making the sale. An algorithm sets the price of the NFTs, which may bring the price of your assets below par.
But you have to keep note of the fact that you can use Coral Cubelike or any other NFT aggregator, where you can check the lists from various other markets like Solanart and Magic Eden. you can buy them at the listed prices there.
With the growing number of users, Coral Cube promises to make the user experience smooth for traders and offers them the most number of possibilities of being the market maker. In this article, we are going to talk about how you can set up any liquidity pool easily and how to sell and buy digital assets on this platform.
How Can You Create Double-Sided Pools With Coral Cubes?
The liquidity pools on Coral Cube are also known as “Double-Sided Pools.” so if you cannot find the term liquidity pool on the menu, don’t get confused. Double-sided pools have two assets. One is a token, and the other is an NFT.
But all the collections don’t keep the pool feature enabled. So, you have to work with whatever you have available. You can find out the eligibility on the tab named Pool on the collection page.
1. Link The Wallet To Coral Cube
Go to the Coral Cube, then click on the tab named “Select Wallet” placed in the upper-right corner and connect with the Solana Wallet.
2. Go To The Collection Page
The next step requires you to go to the page and create a liquidity pool with the collection you want. Look for the NFT you want and search at the top of the field. You need at least one or more NFTs that you want liquidity for and adequate SOL to pair with those.
3. Click On The Button Named “Pool”
Click on the pool button and click on the “Create pool” button.
4. Set Some Pool Parameters
Go to the dropdown, “pool type,” and select the option for “Double-sided.” The other configurations you need to set are mentioned low.
- Base price – the starting price of the NFTs
- Items you want to buy – number of NFTs you want to purchase
- Curve type – the price mechanism you choose for your pool
- Curve delta – the extent to which your pool’s price can move.
- LP or liquidity provider fee – This is the transaction fee you will charge the traders for using your pool.
5. Add Your NFT
You can decide on the amount of NFTs for the liquidity pool you have chosen. But keep in mind you should have the same number of SOLs to make it a two-sided pool. Just click on the Add button and add the NFTs. After clicking the Add button, if you change your mind suddenly, you can also remove it or choose some other digital asset.
6. Create The Pool
Check again if you have configured it properly. Click on “Create pool.”
7. Approve The Transaction From Your Wallet
Your wallet will ask you to confirm the transactions.
It is not surprising that Coral Cube is getting mixed reviews from people. The royalty debate that is going on regarding Coral Cube depends on the aspects that the users are finding necessary. Is supporting curator rights more essential? Or trading money and blurring out the royalty fees is more important?
Although people would agree with the first one, the trading experience Coral Cube is offering is among the fastest on Solana. It has also listed a lot of good NFTs. Thus, it is one of the most appealing options for most of the users.
If you look deep into the NFTs over the creators getting the advantages of the royalties, there are a lot of other suitable options for you than Coral Cube for trading and buying NFTs.