# Contract Overview

### Contract Overview

Element V2 is a decentralized NFT marketplace protocol, We try to design a gas-optimized solution with the most NFT swap features. It inherited a groundbreaking modular architectural from 0x V4, we add more new feature for buy/sell NFTs, spend countless hours optimizing the protocol to be the most gas-optimized protocol.

[GitHub](https://github.com/element-market/ElementEx)

### Gas-Optimized <a href="#gas-optimized" id="gas-optimized"></a>

Every action in a decentralized network cost gas, especially in Ethereum gas is very expensive. We do a lot of code optimization and architecture adjustment for gas optimization, and achieved significant results.

**Ethereum**

* 55% cheaper than OpenSea
* 49% cheaper than LooksRare

**BNBChain、Avalanche、Polygon**

* 78% cheaper than tofuNFT
* 57% cheaper than NFTrade

\[Test case] [one fee,](https://rinkeby.etherscan.io/tx/0x19fab2c17e9715ef8e4959f9a1d5315474f4dc070e5987f9cfaf6140dbb0ff08) [two fee](https://rinkeby.etherscan.io/tx/0x09e19608c1afe0b623c5e8982c2fd760ab2ed8906b9adb8c3164970016b3c092), [zero fee](https://rinkeby.etherscan.io/tx/0x46aa925b27c1adf5765ec1224f09274478013dc9e36fc730ba65aed259a02622)

### New Features <a href="#new-features" id="new-features"></a>

To bring better liquidity for NFT buyer and seller, many new features have been added to Element V2:

* Collection Offer
* Instant royalties for creator
* Mixed Payment with ETH + WETH
* Multi Cancellation - cancel all active orders in one transaction
* English Auction
* Dutch Auction
* Scheduled Listing

### Upcoming Features <a href="#upcoming-features" id="upcoming-features"></a>

Some advanced features have been added to the roadmap

* Property Offer - buy an NFT with specified property in a collection

[NextContract Governance](https://1399491855-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWeYy7jI65iEySLlTRVYf%2Fuploads%2FdZfLdLIZP6RnFtXwCouu%2Fcontract%20governance?alt=media)

Last updated 2 years ago