It can get a bit confusing on when DAI or PALM is necessary and their purpose. In this article, we'll break down exactly what is necessary for a buyer/seller to buy/sell their NFT on Nifty's.
Before we get started, you can refer to this article on how to sell on Nifty's and you can refer to this article on what DAI is.
What exactly is needed to buy/sell?
A small amount of PALM is needed for anyone, and everyone, to participate in buying or selling on Nifty's. Nifty's fees are not paid in PALM, but PALM is used to pay Gas fees.
For the seller to sell, the user must have a small amount of PALM to cover the Gas fee on the seller's side of their transaction.
For the buyer to buy, the user must have a small amount of PALM to cover the Gas fee on the buyer's side of their transaction.
Were users receiving PALM for free to handle these transactions mentioned above?
To answer: yes! Users won't need to worry - everyone will be given free PALM, and later on, will continue to be topped up when needed.
The most important aspect - there is no need for any user to buy PALM tokens. Nifty's will handle this.