NFTX V3 is our biggest release yet, including over 3,700 lines of audited solidity and a newly built web app. V3 aims to solve some of the biggest challenges with V2 while providing an improved foundation for us to continue building new releases.
The most significant update with V3 is that NFTX now includes its own concentrated liquidity AMM, a forked version of Uniswap V3 with support for proportional vault fees to LPs. Other changes include vault fees in ETH (not vToken), inventory and liquidity provision represented using ERC721, and a new feature called premium fees that works like a Dutch auction for newly deposited NFTs. Much consideration went into designing V3, and we are confident that the user and developer experiences will benefit from the changes.
Reputable security firms have audited V3, but it is essential to remember that no matter how well audited a protocol is, there is always the possibility of uncaught vulnerabilities. The NFTX DAO plans on migrating treasury assets over gradually out of caution, and we highly recommend that users are similarly cautious. The risks associated with a new protocol are highest when it first launches, so it's best to treat the early weeks as a beta period.
We hope you enjoy learning more about V3 and experimenting with its new functionality. We are very excited about this release and are already working on plans for V3.1. So strap in, buckle up, and enjoy the ride.