Insrt introduced Perpetual Mints
Perpetual Mints from Insrt offers a unique pool lottery model where participants have the opportunity to win high-value digital assets or app credits.
Unlike traditional lotteries, Perpetual Mints rewards all players with $MINT tokens instead of losing their entry. $MINT is a rebase token, as more people use Perpetual Mint, $MINT holders will receive 10% of all newly issued $MINT tokens or use them to participate in future drawings. The beta version of Perpetual Mints is currently available on Arbitrum, providing a gamified experience.
For more information on Perpetual Mint's design, you can visit this link: https://docs.insrt.fun/perpetual-mints/faq-eli-5
Fungify Paper trading competition started
To prepare for the launch of the mainnet, Fungify has introduced a testnet trading competition sponsored by NFTperp. Registration opens on October 11th at signup.fungify.it, but spots are limited. Top performers will be awarded blue-chip NFTs like MAYC and Pudgy Penguins, in addition to $FUNG tokens.
For more details on the rules, you can follow this link: https://blog.fungify.it/p/fungify-paper-trading-competition.
Introducing ParaX AI
ParaX is a super app that integrates DeFi and NFTFi functionality by combining Paraspace and Parallel Finance. By incorporating AI abilities through real-time language models, the protocol seamlessly translates user intent into actionable tasks. The AI assistant simplifies interactions by allowing simple commands, reducing the typically required multi-step processes.
For more details about ParaX AI, you can visit this link: https://docs.parax.ai/parax/parax-ai-whitepaper
Blur announced the end day of Season 2
After five months of boosting liquidity and activity with token rewards, Blur season 2 is set to conclude on 20th November. A total of 300 million $BLUR will be distributed to users based on their listing, bidding, and lending points. With a total of approximately 36 million points, it is expected that users will earn around $0.7 per point.
Protectorate Protocol released new product: Zaar
Zaar from Protectorate Protocol enables simple NFT trading directly through Telegram. The bot supports fundamental actions like bidding, buying and tracking trends. Aiming to expand accessibility, Zaar plans to integrate Discord as well in the future.
To kickstart activity at launch, Zaar has launched a trading competition where real NFT prizes will be awarded to the most active traders on Zaar through a lottery pool. The competition will end on October 27th.
For more information about Zaar, you can follow this link: https://gitbook.protectorate.xyz/zaar-by-protectorate-protocol/getting-started
Sujiko is live on mainnet
After several months of testing , Sujiko is now officially live on the Solana mainnet. Users can now trade BAYC, PUDGY, and MADLADs with a maximum leverage of 2x. Sujiko offers abundant liquidity from various sources, including a hybrid vAMM and a limit order book. This guarantees that users won't encounter toxic order flow and ensures they receive the best execution price.
In the future, Sujiko will also support cross-chain trading with leverage and add more pairs to the protocol. For more updates about the protocol, you can join our Discord here.
Punk_mstETH vault is live
Following up on what we have covered in NFTFi Weekly #10, Metastreet's punk_mstETH vault is now accepting public deposits. By combining fixed-rate NFT-backed loans from Arcade and NFTfi, along with stETH yield, punk_mstETH offers an approximate 4% yield on the low-risk tranches and around 9% on the high-risk tranches. This provides users with various yield strategies to explore using punk_mstETH.
Introducing Flooring Protocol
Flooring Protocol aims to enhance the liquidity and accessibility of NFT trading through fractionalization. When users deposit 1 NFT into Flooring Protocol, they will receive one million μNFT tokens per NFT, which represent their ownership. Liquidity providers can then add μNFT tokens plus ETH to Flooring Protocol to earn yield and provide ample liquidity for traders to easily buy and sell NFTs.
For detailed technical information on Flooring Protocol's design, please refer to the full documentation: https://docs.flooringlab.com/flooring-protocol/introduction/getting-started
nftperp’s V2 released Paper-trading competition
nftperp launched a paper-trading competition to test its new V2 hybrid model of utilizing fusion AMM and a decentralized order book. Starting September 14th, eligible traders include Mafia Nuts holders and those completing a registration form. Traders can participate risk-free to experience upgraded features and test strategies. Real NFTs and $VNFTP tokens will be awarded to top performers.
To view competition rules and prize breakdown in full, visit this link: https://t.co/WLXDc4iWOm
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