Participate in the Waterfall testnet and be one of the early contributors!
Waterfall
NFTs
Infrastructure
Waterfall
Progress mission: 0 of 1
Rewards
Reward Results
0 0
Details
Minimal cost
Free
Time required
5 min.
Category
Testnet
Rating
5/10
Risk
Low
Information
The Waterfall team has mentioned airdrop rewards several times, but their social media accounts have recently not been active.
Waterfall can be considered as an on-chain protocol designed for trading and pricing NFTs (ERC-721) within an innovative framework. The primary goal of Waterfall is to facilitate the process of price discovery and immediate price retrieval specifically for NFTs that are made available on the protocol's platform. Waterfall abstains from appraising any NFTs that are not actively up for sale.
Waterfall is based on two core aspects:
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Shards - shards are ERC-1155 tokens representing predictions of the future valuations of an NFT. Each shard is listed at its predicted price until a predetermined expiration date arrives. Once this expiration date is reached, a linear Dutch auction is initiated, gradually diminishing the price to either zero or until a buyer is successfully matched. This auction's duration is determined by the seller at the point of listing the NFT.
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Buyouts - In a perpetual fashion, each shard remains listed at all times. Acquiring all available shards enables a user to convert them into the actual NFT. Consequently, the overall valuation attributed to a listed NFT equals the cumulative sum of the prices associated with its individual shards.
Pros & Cons
Why is it worth it?
Less competition
as the opportunity isn’t very popular there aren’t a lot of users participating, increasing chances for a bigger potential airdrop
Funding
substantial amount of funding for this kind of project, as NFT marketplaces often raise less money, an example being OpenSea raising $120,000 in the Pre-Seed round
VC’s backing the project: funds raised in the seed round have been led by high-tier funds like Pantera Capital and Electric Capital
Risks to consider
State of NFT market
as of August 2023, the NFT market isn’t doing all too well, which may impact the development of the Waterfall project, which relies on NFT’s
How to participate?
With Waterfall introducing NFT sharding, together with pricing feeds, it will make it easier to enter the NFT market, regardless if it’s a user with small capital or a hedge fund with a very large capital.
The above point, may suggest that we should see a bigger inflow of users onto the protocol. Additionally, Waterfall secured a substantial amount of funding from renowned funds, allowing them for easier development.
As the Waterfall project isn’t popular, and there isn’t any FOMO around a potential airdrop, there should be a bigger reward for early contributors, should the team decide on executing an airdrop.
Furthermore, this is a testnet opportunity, meaning that there is no capital required to participate, reducing the risk to practically zero, with the only thing risked, being the time.