> For the complete documentation index, see [llms.txt](https://whitepaper.yuzo.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://whitepaper.yuzo.xyz/wall-street-waifus/anvil.md).

# Anvil

NFT AMM for Yunas

Anvil is Yuzo's custom NFT AMM for Yunas, creating a direct conversion path between Yunas and $WAIFUS.

```
ANVIL

YUNA
  ↕
$WAIFUS

NFT AMM
ALWAYS-AVAILABLE CONVERSION PATH
```

### **How Anvil Works**

Anvil maintains Yuna NFT inventory and allows the market to move between that inventory and $WAIFUS.

When buying, $WAIFUS is exchanged through Anvil for a Yuna NFT.

When selling, a Yuna is transferred into Anvil and the seller receives $WAIFUS according to the applicable Anvil rate.

Each conversion updates the market and contributes to ongoing price discovery between Yunas and $WAIFUS.

```
BUY

$WAIFUS
   ↓
 ANVIL
   ↓
 YUNA


SELL

 YUNA
   ↓
 ANVIL
   ↓
$WAIFUS
```

{% hint style="info" %}
**YUNA ↔ $WAIFUS**\
Anvil creates a direct market between the collection and the native currency of the Yuna Economy.
{% endhint %}

### **Random or Snipe**

Anvil provides two ways to acquire a Yuna.

**1️⃣ Random** selects a Yuna from the current Anvil inventory at the standard rate.

**2️⃣ Snipe** allows the buyer to choose a specific Yuna from the available Anvil inventory. Selecting the exact Yuna carries a higher trade fee.

```
ANVIL BUY DESK

RANDOM
8% TRADE FEE
↓
YUNA SELECTED FROM ANVIL INVENTORY


SNIPE
12% TRADE FEE
↓
CHOOSE A SPECIFIC YUNA
```

### **Anvil Spread**

Every Anvil conversion carries a trade fee.

```
The fee depends on how the trade is executed:

RANDOM     8%
SNIPE      12%

The trade fee is then split across three destinations.

75%     STOCK + BOOSTER
12.5%   BURN
12.5%   PROTOCOL
```

```
ANVIL FEE DESK

                    RANDOM             SNIPE

TRADE FEE             8%                12%
                       │                  │
            ┌──────────┼──────────┐       │
            │          │          │       │
        75% STOCK   12.5% BURN  12.5%     │
        + BOOSTER              PROTOCOL   │
                                          
EFFECTIVE
OF TRADE:

STOCK + BOOSTER        6%                 9%
BURN                   1%                 1.5%
PROTOCOL               1%                 1.5%
```