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Protocol Flow
Step-by-Step example of GumBall's marketplace flow
The general flow of GumBall Protocol is as follows:
- 1.Creator launches gNFT collection + 1:1 amount of collection-specific tokens via GumBall contracts
- 2.User’s purchase gNFT or collection tokens with base asset ($WETH, for example) from the ERC20 Bonding CurveCollection tokens are ERC20 tokens. Each collection has it's own specific collection tokens.gNFT is an ERC721 NFT. Each collection has it's own gNFTs.
- 3.$WETH from sale remains in ERC20 Bonding Curve for that collection
- 4.User may swap between gNFTs and collection tokens using the GumBall Machine
- 5.Both NFTs and collection tokens can be staked, borrowed against, etc in the GumBar Contract
- 6.As more gNFTs / collection tokens are bought from a bonding curve, price increases
- 7.As gNFTs or collection tokens are sold back to a collection’s bonding curve, price decreases
- 8.Users may sell their gNFT or tokens for bonding curve price instantly at any time
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Last modified 2mo ago