• Latest
  • Trending
Don’t Sell, Collateralise; Says NFT Liquidity Platform Strip Finance

Don’t Sell, Collateralise; Says NFT Liquidity Platform Strip Finance

October 6, 2021
3 Reasons to Be Bullish on Chainlink (LINK)

3 Reasons to Be Bullish on Chainlink (LINK)

December 9, 2023
Hack Taipei boasts Taiwan’s blockchain talent and global ties

Hack Taipei boasts Taiwan’s blockchain talent and global ties

December 9, 2023
BONK Gets Extra 200% Boost To Its 7,000% Value Appreciation

BONK Gets Extra 200% Boost To Its 7,000% Value Appreciation

December 9, 2023
FTX and Alameda move $23.59M in assets to Binance, Coinbase, OKX

FTX and Alameda move $23.59M in assets to Binance, Coinbase, OKX

December 9, 2023
Shiba Memu (SHMU) set to benefit as the alt season takes shape

Shiba Memu (SHMU) set to benefit as the alt season takes shape

December 9, 2023
SHIB Price Erases Zero, But There’s a Catch Worth 129 Trillion Shiba Inu Tokens

SHIB Price Erases Zero, But There’s a Catch Worth 129 Trillion Shiba Inu Tokens

December 9, 2023
Bitcoin’s (BTC) Famed Bull Market Pullbacks Have Been Elusive. Here’s Why

Bitcoin’s (BTC) Famed Bull Market Pullbacks Have Been Elusive. Here’s Why

December 9, 2023
Gamofi Officially Launches No-Code Develop-to-Earn Game Platform

Gamofi Officially Launches No-Code Develop-to-Earn Game Platform

December 9, 2023
Bitcoin and Ethereum Fees Rise By Over 50%: Will BTC Conquer $69k?

Bitcoin and Ethereum Fees Rise By Over 50%: Will BTC Conquer $69k?

December 9, 2023
  • Privacy Policy
Saturday, December 9, 2023
Mount Rushmore Crypto
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
Mount Rushmore Crypto
No Result
View All Result
Home Crypto

Don’t Sell, Collateralise; Says NFT Liquidity Platform Strip Finance

J_News by J_News
October 6, 2021
in Crypto, Top News
0
Don’t Sell, Collateralise; Says NFT Liquidity Platform Strip Finance
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter


Strip Finance, a Collateralised NFT & DeFi Liquidity Protocol, is putting NFTs for better use by collateralising them for stablecoins and providing greater liquidity.

A next-generation NFT platform called Strip Finance is making it possible to collateralise Non-Fungible tokens while still maintaining ownership of the assets, taking DeFi and NFTs to a whole new dimension.

Created by veteran crypto entrepreneurs, Strip Finance allows users to lend their NFTs for stablecoins allowing them to attain liquidity without selling or leveraging the value of holdings to mint more NFTs.

Moreover, Strip Finance allows lenders to earn interest on the platform and have a chance to acquire defaulted NFTs at discount prices.

Non-fungible tokens (NFTs) appear to have exploded this year. NFT sales have increased more than eightfold to $10.7 billion in the third quarter of 2021 because of the ongoing craze for NFTs.

Despite this boom, most NFTs are becoming worthless with no better use cases. NFTs are usually difficult to utilize productively once purchased, in contrast to fungible tokens, which may be staked, lent out, or otherwise put to work to produce yield.

Strip Finance, on the other hand, resolves this significant issue by giving a better use case, of NFT collateralisation, in which lenders may lend their NFT and borrow stablecoins.

Having access to stablecoins will enable owners to access liquidity for a variety of purposes, including exploring further investment possibilities, personal expenditures, or market hedging. It can even be exchanged for fiat, utilised in DeFi protocols, or used to purchase more NFTs.

Understanding Collateralisation – The Strip Finance way

The startup is developing a platform via which anyone who owns a desired NFT may use it as collateral to borrow money. The asset pricing data on the Strip Finance platform will be collected straight from NFT markets like Opensea, Rarible, and others, with no adjustments made by Strip Finance.

The platform, which will support Ethereum Chain, Matic Chain, Binance Smart Chain and Solana ecosystem will allow borrowing funds without any mediators, similar to other DeFi protocols.

Strip Finance will follow the basic principle of the lending/borrowing market for its NFT Collateralisation.  Accordingly, Strip Finance aims to bring lenders and borrowers together on the platform where if someone wants to borrow, they should first list their NFT on its marketplace. Moreover, Lenders could then begin expressing their willingness to lend against that particular NFT with extra information such as loan term duration, payment frequency, and liquidation terms to keep both parties informed.

Furthermore, NFT holders get stablecoins without selling off their NFTs allowing them to attain liquidity without selling or leveraging the value of holdings while still having the ownership of their prized assets.

For the lenders, it allows them to earn interest on the platform, and have a chance to acquire defaulted NFTs at discount prices.

Initially, the platform will offer loans in the form of the USDT stablecoin and aims to continue expanding its ecosystem with new features.

Strip Finance: A platform with potential

NFT is not just about digital art anymore, it’s much more than that. With DeFi and NFT going mainstream one can expect a disruption in the traditional world of finance.

In addition, platforms like Strip Finance that aggregates liquidity on the platform through its decentralised P2P and curated pools approach to allow capitalization of NFT assets will add to the evolution of this industry.

In August, the company secured about $500,000 in a seed round from Old Fashion Research, Nothing Research, Tenzor Capital, Block0, Shima Capital, Lancer Capital, and J10M Capital.

Moreover, Strip Finance’s advisory board includes Siddharth Menon, COO of WazirX; Jaynti Kanani, CEO of Polygon; Tamar Menteshashvili, Solana’s Ecosystem and Growth; and Yida Gao, GP of Shima Capital.

Strip Finance: Thinking beyond Art NFTs

Strip Finance intends to take NFTs to the next level, and with support from renowned businesses and individuals, there are good opportunities to build a good momentum on Binance Smart Chain and Solana. Furthermore, Strip Finance’s founders are seasoned crypto entrepreneurs with backgrounds in some of the most well-known technology companies, including Ankr, Bithumb, ConsenSys, Bitfinex, Prometheus Labs, and Coldsstack.

The team believes that providing means of collateralising NFTs and providing liquidity brings value to the NFTs. Similarly, they believe that the transparency and legitimacy of NFTs will be restored by financially backing the NFTs

Going forward, Strip Finance’s plans include foraying into debt financing of crypto projects by allowing project tokens minted as NFTs to be used as collateral on the platform.



Source link

Related articles

3 Reasons to Be Bullish on Chainlink (LINK)

3 Reasons to Be Bullish on Chainlink (LINK)

December 9, 2023
Hack Taipei boasts Taiwan’s blockchain talent and global ties

Hack Taipei boasts Taiwan’s blockchain talent and global ties

December 9, 2023
ShareTweetShareShare
Previous Post

The Project Giving Away $50k and a Lamborghini Go-Kart | by The Capital | The Capital | Oct, 2021

Next Post

EToro adds support for Polkadot and Filecoin

Related Posts

3 Reasons to Be Bullish on Chainlink (LINK)

3 Reasons to Be Bullish on Chainlink (LINK)

by J_News
December 9, 2023
0

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views...

Hack Taipei boasts Taiwan’s blockchain talent and global ties

Hack Taipei boasts Taiwan’s blockchain talent and global ties

by J_News
December 9, 2023
0

To capitalize on the bullish trend in the blockchain and crypto space, major industry players in Taiwan including Orderly Network...

BONK Gets Extra 200% Boost To Its 7,000% Value Appreciation

BONK Gets Extra 200% Boost To Its 7,000% Value Appreciation

by J_News
December 9, 2023
0

The price of some digital assets has reached an all-time high due to the recent growth in the bitcoin market....

FTX and Alameda move $23.59M in assets to Binance, Coinbase, OKX

FTX and Alameda move $23.59M in assets to Binance, Coinbase, OKX

by J_News
December 9, 2023
0

In four days, wallets linked to defunct crypto trading firms FTX and Alameda Research moved $23.59 million worth of digital...

Shiba Memu (SHMU) set to benefit as the alt season takes shape

Shiba Memu (SHMU) set to benefit as the alt season takes shape

by J_News
December 9, 2023
0

The recent Bitcoin price surge has helped spur a major altcoin boom. Bitcoin price jumped to over $44,000 this week for...

Load More

Enter your email address:

Delivered by FeedBurner

Quick Navigate

  • Home
  • Crypto
  • Crypto Technical Analysis
  • Top News
  • Thank You
  • Store
  • Crypto Vouchers
  • About Us
  • What Cryptocurrency Is and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

Top News

CCAIT (Chatcrypto Token) an AI based crypto token soars to $0.1 price, Increase 100X within 24 hours of launch in Dex Pancakeswap

Immunefi Reports $2.3B of Funds Lost in Crypto in 2022

Celsius (CEL) price remains strong even as ex-CEO assets get frozen

© 2021 mtrushmorecrypto - Crypto Related News Blog

No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

© 2021 mtrushmorecrypto - Crypto Related News Blog

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT