Fake World Assets Officially Opens Its V2
The Ethereum gacha platform has activated purchases on its V2 protocol, which will run alongside the V1.
TokenWorks has opened NFT purchases on Fake World Assets V2, completing the project’s move onto its new main pool system.
What’s the Scoop?
Refresher: Fake World Assets is TokenWorks’ onchain NFT gacha. Depositors can list NFTs backed by ETH, while buyers pay to draw random listings, after which they can either keep the pulled NFT or take the standing bid in ETH or FWA. Selection uses Chainlink randomness, with cheaper-backed listings more likely to be pulled.
What’s new: Deposits were opened for the V2 over the weekend, while purchases went live today. The rollout adds support for new features (e.g. custom pools and builder revenue) and addresses various shortfalls experienced in the V1 (e.g. more predictable withdrawals).
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Other changes: Among other things, V2 caps listings at a collection's floor price plus 10%, charges a 1% fee for leaving the pool's top "crown" slot within 12 hours, and raises FWA cashouts to 92.5% of a listing compared to the 90% ETH default.
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