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 Magic Eden started investing in it.
Coral Cube is popular for selecting the best digital assets on the Solana Blockchain platform. Basically, 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.
It is a lot like OpenSea’s royalty concerns, but they are different in some aspects.
What Are Coral Cubes?
According to Alchemy.com, “Coral Cube is a Solana-based NFT aggregator platform which has teamed up with Magic Eden as of October 2022. Coral Cube users can buy, sell and view NFTs across marketplaces. Developers can view statistics and transactions on the platform. Coral Cube offers optional creator fees and is a fast platform.”
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 able to sell their NFTs immediately through the liquidity pools. However, this method of selling does not require a seller to wait for someone to agree on the price for making the sale. Here, an algorithm sets the price of the NFTs, which may bring the price of your assets below par.
However, you have to keep in mind that you can use Coral Cubelike or any other NFT aggregator. Here, you will be able to check the lists from various other markets like Solanart and Magic Eden. Also, you can buy them at the listed prices there.
Furthermore, as users are continuously growing, Coral Cube promises to make the user experience smooth for traders. Moreover, this offers them the most opportunities to be market makers. In the next section, 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.” Therefore, if you cannot find the term liquidity pool on the menu, dont get confused. Basically, double-sided pools have two assets. One is a token, and the other is an NFT.
Also, with the AMM of the platform, an NFT trader is able to sell NFTs instantly with the help of the liquidity pool option. Hence, sellers do not need to wait for someone to agree to their NFT price, if they want to sell.
But all the collections don’t have the pool feature enabled. So, you have to work with whatever you have available. You can find out about eligibility on the collection page by clicking the tab named Pool.
1. Link the Wallet to Coral Cube
Go to the Coral Cube, then click on the tab named “Select Wallet.” You will find this tab 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.
What Makes Coral Cube Interesting?
One of the most interesting aspect of Coral Cube is that it is an aggregator marketplace. Hence, it is different from other NFT marketplaces on Solana NFT.
With the help of an NFT aggregator, you will be able to collate and link to different projects on other marketplaces. Some of these marketplaces include Magic Eden, Solanart V2, OpenSea, and more. Here, Coral Cube acts as a single place where you can find and but different types of NFTs.
Coral Cube’s hash list is quite useful, and that is why NFT degens use this platform to find NFTs. Hence, you will be able to see projects that you will not find on Magic Eden. Basically, once a project is present on the secondary market, they are indexed and listed immediately on Coral Cube.
Furthermore, in Coral Cube, you will be able to find different features that allow users to earn rewards as they strat trading with NFTs.
Pros of Coral Cube
- You can find the rarity rank feature on the platform.
- The platform supports up to six wallets.
- You can find different types of Solana NFT collections.
Cons of Coral Cube
- Lauchpad projects are not a part of Coral Cube.
- The customer support is close to non-existent.
- There are no app, as the platform is only available on the web.
Wrapping Up
It is not surprising that Coral Cube is getting mixed reviews from people. The royalty debate regarding Coral Cube depends on the aspects that the users find necessary. Is supporting curator rights more essential? Or is trading money and blurring out the royalty fees more important?
Although people would agree with the first one, Coral Cube’s trading experience is among the fastest in 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.
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