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Liquid NFTs

Overview

Provides three implementations of NFT liquidity pools, allowing users to trade NFTs for fungible tokens and vice versa. Each implementation uses a different token standard (Coin, Legacy Token V1, Fungible Asset) to demonstrate the evolution of Aptos token standards.

Difficulty

Advanced

Concepts Demonstrated

  • NFT liquidity: Converting NFTs to fungible tokens and back
  • Random selection: Pseudorandom NFT selection when claiming from the pool
  • Three token standards compared:
    • liquid_coin.move -- Uses Coin + Token Objects (V2)
    • liquid_coin_legacy.move -- Uses Coin + Legacy Tokens (V1)
    • liquid_fungible_asset.move -- Uses Fungible Assets + Token Objects (V2)
  • SmartVector: Efficient pool storage for locked NFTs
  • Friend modules: Shared common.move utilities via public(friend)
  • Sticky objects: Non-deletable objects required for fungible asset metadata

Module Structure

Module File Token Standard Fungible Standard
common common.move -- --
liquid_coin liquid_coin.move Token Objects (V2) Coin
liquid_coin_legacy liquid_coin_legacy.move Legacy Tokens (V1) Coin
liquid_fungible_asset liquid_fungible_asset.move Token Objects (V2) Fungible Asset

How It Works

  1. Creator creates a liquid token for a fixed-supply collection
  2. Total fungible supply = collection size * 10^decimals
  3. User deposits NFT (liquify): NFT goes to pool, user gets fungible tokens
  4. User claims NFT (claim): User pays fungible tokens, gets a random NFT from pool

Key Functions (per implementation)

Function Visibility Description
create_liquid_token entry Creates the liquidity pool for a collection
liquify entry Deposits NFTs into the pool, receives fungible tokens
claim entry Pays fungible tokens, receives random NFTs from pool

Pseudorandom Selection

// Uses AUID (globally unique) + timestamp to generate unpredictable index
let auid = transaction_context::generate_auid_address();
let bytes = bcs::to_bytes(&auid);
bytes.append(bcs::to_bytes(&timestamp::now_microseconds()));
let hash = hash::sha3_256(bytes);
let val = from_bcs::to_u256(hash) % (pool_size as u256);

Note: For production use, consider the Aptos on-chain randomness API instead.

Deploy & Run
Package snippets/liquid-nfts
Named address fraction_addr

Deploy

aptos move publish --named-addresses fraction_addr=default --package-dir snippets/liquid-nfts

Tests

aptos move test --dev --package-dir snippets/liquid-nfts

Related Examples