Thank you for all the comments! As announced earlier, happy to share additional details around the roadmap, milestones, and payment structures.
We categorize the Trader Roadmap into three distinct parts:
- Trader.xyz product
- Developer tooling
- Open-source product(s)
Please note that this roadmap is subject to change. We want to include the community as we develop features, so based on community input and market conditions, the roadmap can and will adjust. Trader.xyz wants to be able to quickly capitalize on compelling market trends and integrate the latest NFT protocols as needed or desired.
Trader will also work closely with the core 0x team to facilitate any upgrades or integrate new features. Trader exists to showcase the power of the 0x protocol and will act in the best interest of the 0x protocol and community.
More OTC Options (1-2 months)
We want Trader to be a go-to destination for token swaps with friends. Best user experience, from any token to any token over the hyperlink. To do so, we still need to support NFT to NFT and ERC20 to ERC20.
NFT to NFT
Enable easy to use swapping of any NFT(s), to any NFT(s). Select your token, provide an address of your counter-party and conveniently select its token or paste a token contract.
ERC20 to ERC20
Direct integration of 0x API, simple OTC swap
Inbox for offers directly baked into Trader
Multichain support (1 month)
Trader will support three chains in the upcoming months:
Marketplace (3-4 months)
NFT listing page will include the following
- Price floors
- Provide more comfort around verified smart contracts
- Link to a family
- History/past owners
- View counts
- Trading history
- Tech details
- Artist bio
- Other insights the community deems valuable
- Customization options for communities - the easiest way to launch your token (Shopify)
- Focus on price floors
- Rarity.tool’s like features
- Search, filtering, standard features you’d expect from an exchange.
- Your front page of NFT world
- Simple aggregated view of price floors
- Losers / Gainers / Most discussed
- Work with communities on cross-marketing and projects section (learn more - exclusive for Trader?)*
Growth-based features (2-3 months)
- Your own shareable profile that lists all your trades, profits and collections. Good for influencers and trading collectives. Track realized profits over time, etc.
- Integrate Twitter OAuth to verify accounts, integrate web2<>web3
Leaderboards / Contests
- Make the trading experience more social. We have a lot of ideas to share here!
Better drops experience
- One feature request we keep getting is a better way to do “NFT drops”. We want to explore the UX around this and leverage different auction types via 0x v3 to experiment with best use cases.
Real-time trading with peers
- Put your items on sale in real-time, confirm to trade, similarly to WoW / Runescape
- With Rari’s Fuse permissionless liquidity pools that support lending and borrowing, users can now fractionalize an NFT and provide ways to go long or short against a particular NFT. We would like to integrate a best-of-class way to easily “long” an NFT (e.g. go long on a CryptoPunk or short on a Bored Ape!)
One of our primary goals building out trader.xyz is to build, dogfood, and distribute open-source developer tooling for using the 0x protocol with NFTs. To us, this is one of the core value props of the trader.xyz grant (in addition to a flagship customer-facing application).
Right now, setting up an NFT exchange with 0x is challenging, and there is a lot of legwork involved with encoding asset bundles, munging data, and persisting and maintaining trades in an orderbook. It makes it hard to ‘quickly’ integrate the 0x protocol. We want to make it as easy as ‘npm install 0x-nft-sdk’ and with a few function calls be able to swap – similar to how the 0x API streamlined ERC20 exchange. For example, New entrants into DeFi should be able to quickly start an NFT exchange at a hackathon without having to understand the underlying contracts.
In short, we plan to offer:
- React hooks library out-of-the-box ready to swap NFTs.
- An open-orderbook API anyone can access and post to, so developers don’t have to run their own orderbook backend
Our main goal is for a hackathon participant to be up and running with NFT trading via 0x in less than 30 minutes, so developers can focus on the unique part of their application.
If we do our job right, we expect to see more developer interest and friendly competition to trader.xyz, but as long as developers are using the 0x protocol and strengthening the 0x flywheel, we are happy. We welcome any competition as long as they are using the 0x protocol
In addition to developer tooling, there is a huge demand for some core infrastructure for NFTs. Specifically, we want to focus on building and productionizing an open-source NFT indexer.
Right now, most NFT products depend on OpenSea’s API to pull metadata and order data. We see this as an existential threat, as do many NFT platform developers. If OpenSea were to close off their API, many NFT products would cease to function correctly.
Trader.xyz is building an NFT indexer which combines on-chain sales and transfers with off-chain metadata lookups. This NFT indexer is currently in development. Towards the end of development, this will be open-sourced and offered as a hosted solution for free to the NFT community.
The NFT indexer will have the same API as OpenSea, so developers will only have to change the root url to point to the new Trader NFT indexer instead of the OpenSea API and everything should Just Work.
We believe there is a strategic and synergistic integration between an NFT indexer web2 API and our open-orderbook API down the road.
With this NFT indexer, the community can pull-request and contribute new ways to index NFTs easily, and we expect it to become a shared community good across the NFT space if successful. Currently no one is approaching the problem this way and we believe we have the chance to be a first-mover and establish mindshare with the community. Eventually this can even be rolled up into the 0x API if successful. We believe this product will help trader.xyz and 0x establish mindshare and thought-leadership by doing the right thing for the community.
Trader.xyz is requesting 1MM USD (split between MATIC and ZRX tokens) to be streamed to the developer wallet over a 12 month duration. All fund usage will be on-chain and transparent.
At any point in the product development process, the grant stream can be paused or cancelled if the Trader.xyz team is deemed to be not providing satisfactory results by the 0xDAO and/or 0x community.
Over one year we would like to allocate the following estimates:
- $350k - 2-3 full-stack engineers @ 100-150k USD wrapper rate
- $50k - Solidity contracting budget for extending 0x V3, broker smart contracts.
- $100k for one year of technical OpEx budget
- Alchemy, web2 servers through Google Cloud, Twillio services, etc
- $250k - 2 designers @ 100-150k USD wrap rate
- $100k for two part time illustrators @ $50k each wrap rate
- $50k - Content writing, educational materials about 0x NFT capabilities and trader.xyz
- $50k - Sponsorships, community incentives (e.g. trading competition), hackathon prizes.
- $50k for legal services and budget for part-time finance consultation.