Flayer

In this white paper, we introduce the ƒlayer protocol: a novel solution for providing fungible liquidity to non-fungible token (NFT) collections. Unique to ƒlayer is its use of Harberger Fees, ensuring immediate liquidity across all rarities of a collection, rather than being limited to floor items. This approach not only introduces an entirely new way to liquidate mid-tier and rare items but also catalyzes a fresh market for "Trade-Ups", where collectors can exchange multiple floor items for rarer ones. ƒlayer also introduces a Lockbox mechanism to allow users to access fungibility without giving up ownership of their NFT, as well as reservations (reserve NFTs for a later purchase) and re-listing (arbitrage mispriced items).