Updates and Innovations on the NFT UniV3 Staking Testnet

[PierFox]

Dear MetalSwap Community Members,

We are thrilled to share with you the latest developments and objectives we are pursuing on our ongoing Testnet, specifically for the NFT UniV3 staking currently implemented on Mumbai. This update aims to further enhance the user experience and efficiency of our platform.

New Features in Liquidity Management

One of the most significant features we’ve introduced concerns the management of NFT liquidity.

Below are the details of the new functionalities:

• Add or Remove Liquidity

We have implemented a function that allows users to operate directly on the liquidity of NFTs. This includes the ability to add or remove liquidity entirely to open a new NFT or update an existing position. Here are some key points:

• Applicability: The function is available for NFTs not in Staking.

• Flexibility: Users can remove up to 100% of the liquidity, in line with the functionalities offered by UniV3.

The operation is very simple:

1. Once an NFT position is created, you just need to go to the “Liquidity” section.

2. Subsequently, you will have the possibility to add or remove liquidity exactly as it happens on Uniswap V3.

• Burn NFT

Another important addition is the ability to “burn” NFTs.

This proves particularly useful in two scenarios:

• When an NFT has insufficient liquidity to maintain the minimum range.

• After removing the liquidity, leaving the NFT “empty”.

Also in this case, the operation is very simple:

1. Once an NFT has insufficient liquidity to meet the minimum requirements and/or all the liquidity has been removed with the above-mentioned function, you just need to enter the “Liquidity” section.

2. At this point, you will have the possibility to definitively destroy such NFT.

This functionality aims to reduce the data load associated with users owning numerous NFTs, thus alleviating the pressure on our data providers.

An important note I wish to emphasize is that both of these new functionalities operate directly with UNI V3 contracts, ensuring a smooth experience for our users.

Optimization

In parallel to the updates on liquidity management, the development team is engaged in continuous testing to assess the maximum number of NFTs that a Chainlink cycle can process.

The goal is to optimize the costs associated with the automation system, ensuring efficiency and sustainability for the platform in the long term.

I am eager to see how these new features can improve the user experience and contribute to the overall success of our ecosystem.

You are invited to test these new features on the Testnet and share your feedback, which is extremely important in order to release a product of the highest quality and efficiency.

Thank you very much for the support shown in the last few weeks, and don’t forget that those who operate on the testnet accumulate points…

[Diego.crv]

Thanks @PierFox for the precious update regarding the NFT staking feature.

The MetalSwap community is proving to be really active and extremely helpful in the creation of this new feature, which, as mentioned in this blog post on the official website, aims to improve liquidity and increase the trading volumes of the XMT token.

This effort of the members will be rewarded with the MetalSwap points, which are accumulated by completing operations within the testnet and will be converted into a reward at the end of the testing phase.

Let’s keep building!

[PierFox]

Thank you so much, @Diego.crv !

I believe it’s crucial to keep all updates easily accessible to the entire community, and for this reason, we will all try to provide more details on the continuous developments of the platform.

Regarding MetalSwap points, you’ve highlighted a key component that rewards those who contribute to the testing phase. For those who might have missed it, here’s the official article explaining their functionality in detail.

Full steam ahead!

[LorenzoN]

I believe that having the ability to modify the NFT even if it’s not staked is pretty cool. This is a feature with great potential, especially if properly incentivized by some OP [presumably ‘overpowered’]. It could provide the right depth of liquidity and also give a boost in this market phase.

What I would do is leverage this feature to establish contacts with the Chainlink team for potential future interactions

[Tizswa]

Nice update.
I think this feature will be fundamental to increase the liquidity and availability of the governance token. From these bases it will be possible to begin a new phase, oriented towards the growth of its volumes.

[LegoPlayer]

I want to share my personal experience with the new features you’ve introduced. I’ve try them out, and I’m pleased to report that everything went smoothly overall.
The process of adding and removing liquidity for NFTs not in staking was intuitive, together with the ability to burn empty NFTs.

However, I also wish to share two minor issues I encountered during my user experience, which may be helpful for everyone:

1 - Liquidity button: On a few occasions, the liquidity button failed to load the NFT liquidity infos. I suspect this might be related to the upcoming deprecation of the Mumbai Testnet. As a workaround, I found that waiting for 15 seconds, reloading the page, and retrying, usually resolved the issue.

If this persists, it might be worth considering changing the RPC. A public list of alternatives can be found at https://chainlist.org/?search=mumb&testnets=true.

2 - Add Liquidity tab: When attempting to add the maximum liquidity available, I noticed that clicking the “Max” button on both XMT and USDC sections did not update the “Add Liquidity” button as expected. However, I discovered that manually interacting with one of the “Set Amount” sections, triggers the button update as it should.

Despite these minor hiccups, I want to emphasize that the overall experience with the new features was positive. The issues I encountered were relatively minor and did not significantly impact the functionality of the platform.

I hope that sharing my experience and the workarounds I discovered will be beneficial to other community members who may encounter similar things.

Keep up the great work!

[zorb]

Hi everyone, I would like to share my experience with NFT UniV3 Staking Testnet.

I’ve had my rewards at zero for a few days and when I stake my NFT, the ALLOWANCE and STAKE operation is successful, but unfortunately it “disappears” from my staking NFTs.

I also take this opportunity to ask if there is a specific section to report the various user experiences and also the possible NFT UniV3 Staking Testnet problems to be solved.

Keep it up!

[Diego.crv]

Take a look in the discord. There is a specific chat called “NFT-STAKING-TESTNET”