SWAP AT THE SWAMP AND BEYOND: Yuga Labs’ Grails OTC Goes Multichain, Inviting Everyone To Swap Their Gains For A Membership In The Best Club On The Internet!
Sep 2
2 min read
Whether you’re making money on Mainnet or an L2 like Robinhood Chain, everyone can now swap those multichain gains for a membership in the best club on the internet over the counter with Yuga Labs’ Grails OTC!
Things were anything but boring on Wednesday after Yuga Labs announced that its Grails OTC platform was now up and running across the Ethereum network!
“Today we’re launching multichain NFT swaps swap your fav jpgs and tokies OTC across ethereum mainnet, robinhood chain, and apechain,” Yuga Labs CEO Michael Figge tweeted. “This enables GrailsOTC to compose more sophisticated & interesting deals for collectors goal is to continue growing the best collector-centric tech.”
Making it easier for collectors everywhere to acquire grails and safely trade NFTs onchain has been a priority for Figge and the team since he stepped in as CEO earlier this year.
As the Gazette previously reported, Yuga Labs first opened Grails OTC’s swap platform back in July.
Rather than requiring collectors to deposit their assets into a platform vault, Grails OTC lets holders trade directly with one another through the official BAYC site, with each side keeping custody of their assets until the trade is executed.
“It’s a simple bilateral trading desk for NFTs and tokens on Ethereum.” Yuga Labs VP of Blockchain 0xQuit explained back in July. “You and another person agree on a swap. You both keep your assets in your own wallets the entire time. Nothing sits in a platform vault. When you’re ready to trade, each of you signs one offchain order. The platform is built on OpenSea's Seaport contract, and so inherits all of the same security. Once you both sign, anybody can execute the order onchain. Cancel gas-free any time before execution.”
Tonight, collectors can check out Grails OTC for themselves and start making swaps with their frens here: https://boredapeyachtclub.com/trade
Great innitiative, BAYC has focused on funneling newcomers into the club and it will pay off long term for sure. Even though this is the right tool, APES, and newcomers need a channel for communication and help reaching out to apes to secure the right asset, I wonder why the tradnig channels were removed from discord which was our only way of trying to secure good deals before bots
I'm curious about how this gd multichain approach will impact user engagement. Have you seen any changes in membership dynamics since the launch? I recently swapped some assets myself and it felt like joining a new community!
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