Bid Better.
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What is Levee?
- Levee is a product to help you make the best bids possible on NFTs. While bidding is often a function that is embedded in a marketplace, we focus exclusively on making the bidding experience as easy and valuable as possible for you. Right now, we are focused on whole collection bids and attribute bids.
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What are collection-wide bids? Attribute bids?
- Collection-wide bids are bids that can be fulfilled by any token in the collection. If you make a bid on Doodles, any doodle holder can fulfill your offer. Attribute bids are similar, except they limit the bid to tokens with a particular attribute. Say you want a World of Women NFT with pearl earrings - bid on that ‘slice’ and any holder of a token with that attribute can accept your offer.
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Is Levee still a Beta?
- Yes, we are still in beta, sort of! Every feature we have available has been extensively vetted. That being said, we recognize that not every feature you might want is available. We are working tirelessly to improve, so if you see something you think is missing, let us know and we will make it happen.
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But how is this possible? Where do my bids go?
- Levee is built on top of Reservoir - the first ever decentralized NFT order-book and liquidity aggregator. What this means is that the bids placed on Levee go into Reservoir. Anyone that integrates NFT liquidity using Reservoir will be able to fulfill your bids! This includes community marketplaces (i.e. Loot.Exchange), other general marketplaces, and wallets. Have you ever wished that you could instantly sell NFTs directly from your wallet? Yeah, us too..
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Does Levee have Fees?
- No. While Levee is in Beta, we won’t have any fees.
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What do you mean by ‘powered by Reservoir’?
- As we mentioned above, Reservoir is the decentralized NFT order-book that we built Levee on top of ( https://reservoirprotocol.github.io/). If you are a builder, go check it out - they make building marketplaces, marketplace tooling, etc. easier than ever. You’re not going to want to miss this one.
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Why is there a leaderboard? and what are you measuring?
- We have a leaderboard because we believe that liquidity providers should be rewarded for providing liquidity. We are keeping track of top bidders and how much liquidity they are providing, measured as the total amount of Eth each bidder has in top bids . Stay-tuned.
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What about bids that are on OpenSea? How can I be sure I am getting the best price on my NFT when I am accepting an bid?
- Our primary focus is on making the bidding experience as great as can be. But we also let you accept bids on the tokens that you have in your portfolio. We have pulled in the bids on your NFTs from OpenSea so you can be sure to get the best available price for your NFT. Isn’t Reservoir great?
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How can I integrate Levee’s buy-side liquidity into my marketplace/wallet?
- We want to specialize in bids, and leave the perfect execution of selling to someone else! Whether you are building a wallet, a community marketplace, or a generic marketplace, or something else entirely, the Levee liquidity if available for you. We recommend checking out Reservoir to implement the most robust source of NFT liquidity. And if you need a hand getting things sorted, please reach out!
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Why are bids free to place, but cost ETH to cancel?
- You can place all the bids you want for free, but they cost ETH to cancel. That’s why we recommend short bid expiration times. We are working currently on some tools to make this whole process easier. As for why... when you make a bid, the bid lives off the Ethereum chain (on Arweave), and only goes to the on-chain Ethereum exchange when someone picks it up to fulfill. When you cancel a bid, you are sending an on-chain note to the exchange to not execute the (already-signed) order that you previously made. Since this cancellation has to be sent to the exchange, you have to pay the gas.