Potato Cat: Revolutionizing NFT Trading on Solana
In the ever-evolving world of NFTs, the Solana blockchain has become a hotspot for innovation, attracting developers and traders alike with its fast and low-cost transactions. One of the standout projects making waves in this space is Potato Cat, a novel platform designed to revolutionize how users trade and manage their NFT portfolios.
An Exclusive Q&A with John Ennis, Creator of Potato Cat
From addressing the challenges of bid/ask spreads to introducing unique features like trait-based distinctions and reward incentives, Ennis shares how Potato Cat aims to create a seamless and efficient marketplace for NFT swaps. Whether you’re a seasoned trader or a curious newcomer, Potato Cat promises to offer innovative solutions that could reshape your NFT experience on Solana.
What inspired you to create Potato Cat, and how does it address the current challenges in NFT trading on Solana?
John Ennis: Most NFT traders and collectors don’t appreciate just how much money they lose when crossing the bid/ask spread when trading NFTs. With Potato Cat, we help our users avoid this spread crossing to realize significant savings by helping to matchmake users with complementary interests. Right now, people trying to avoid the spread do so through traditional OTC swaps, however finding people with whom to trade is time consuming and still requires negotiating a deal that is acceptable to both sides. At Potato Cat, we remove this friction to create a “marketplace of swaps.”
Can you explain the technology behind Potato Cat’s proposal engine and how it determines fair deals for NFT swaps?
John Ennis: Our proposal engine analyzes the onchain orderbooks of existing NFT marketplaces to determine a fair deal for both sides, then shows users the savings they will realize compared to selling and then buying on the open market.
