Efinity will become the world’s first trustless token marketplace that rewards anyone providing liquidity for NFTs.
Ask Orders can be placed by an owner to sell tokens they own. Placing the order will bind the token to the owner’s account until the order is filled or cancelled.
Bid Orders can be placed on a token ID, or a base ID (which includes all token IDs of the same type).
Tokens don’t need to be listed for sale (or even exist on the network) to receive a bid. In fact, users are encouraged to maintain the highest bid on any token.
The highest active bid on any Base ID and/or Token ID establishes the best known current price for each fungible or non-fungible token.
To incentivize price discovery, the highest (un-filled) bid on any token receives a share of fees and earns weight in the Price Discovery Pool over time for any transactions involving that token.