Nowadays, NFT is no longer limited to playing the role of “collectibles”. With the growing maturity of this vertical market, the crypto market has seen the emergence of NFTs that package delegated rights, such as:

1、You can participate in authorized delegated NFTs for games like Yuga Labs and Forgotten Runes.

2、You can collaborate with TokenProof to provide ticketing services for events and gain access to those events through service-oriented delegated NFTs.

3、You can participate in airdrops for top NFT projects like Azkuki, ArtBlocks, and Memeland through delegated NFTs.

4、You can use delegated NFTs to verify social media accounts for platforms like Phaver, Vulcan, and Collabland.

In this context, Delegate, a decentralized secured delegation platform, has introduced Liquid Delegate, a marketplace where delegated NFTs with trading rights can be exchanged. This marketplace provides a trustless way to trade delegated NFTs, including rights to claim airdrops and other delegated NFTs.

Liquid Delegate is the first backwards-compatible marketplace that lets you buy and sell delegate rights with zero counterparty risk, and the whole process is not complicated:

1、Deposit spot asset into Liquid Delegate escrow

2、Receive Principal Token and Delegate Token（DT）

3、Sell DT on marketplace

During beta testing, Liquid Delegate found that users felt that “an upfront escrow commitment” was too complex for most users. To address this issue, Delegate has implemented the following solutions:

1）List DT on marketplace

2) If DT is bought, spot asset gets autoescrowed

Based on the above process, for sellers, listing DT tokens without Gas incurs significantly lower costs. Additionally, Liquid Delegate has built the marketplace with a custom Seaport ContractOfferer. This means that no additional approvals are required; only an off-chain signature is needed. As a result, users can experiment with selling Delegate Tokens without any on-chain transactions, making it effectively “completely free.”

What should users care about?

Users can now tokenize, transfer, and trade delegate tokens as native ERC721s with zero counterparty risk, zero collateral requirements, and zero liquidations risk. Users can transfer or sell a Delegate Token to someone else while keeping full control of the spot asset.

What should project owners care about?

Projects are eligible to earn a share of trading fees of all related Delegate Token assets on the native marketplace. Currently, Liquid Delegate has started integrating with some project teams and discussing more in-depth promotional services.

What should builders care about?

Liquid Delegate builds on top of the strong network effects of Delegate Registry, which secures ~$750 million worth of assets today. Liquid Delegate’s escrow + delegate model can scale to tens of billions of dollars of assets, a robust audited hyperstructure.

Any asset that can be delegated on Registry V2 can be tokenized and traded in Delegate Market.

So, what sets Liquid Delegate apart from OpenSea and Blur?

Liquid Delegate is not trading spot assets. Users mint Delegate Tokens representing utility rights (airdrops/gaming/event access) and keep their spot assets while selling DTs. Currently it supports any project integrating Delegate Registry.

Currently, the Liquid Delegate delegation market is live on Ethereum and Goerli. Users can now try creating their own Delegate Tokens.

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