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NFTFi Weekly #12

Wasabi's perpertual trading, Starport by Astaria, Ordinals lending on Bitcoin with Liquidium, and more

  • Wasabi Protocol launched perpetual trading

Wasabi Protocol has launched their Assset-Backed Perpetual product - which is designed by pairing ETH with Flooring Protocol's μ-tokens, which are ERC-20 tokens representing fractional shares of an NFT from a specific collection. These tokens are then deposited into a WLP vault. Liquidity providers can deposit ETH and μ-tokens to earn interest. While traders can utilize up to 5x leverage to go long or short on various NFT collections, with all assets being backed.

Additionally, Wasabi Protocol is planning to introduce a reward system where users can accumulate points for their activities. More comprehensive details about this system will be announced shortly.

  • Fungify introduced The Great Fill

The Great Fill is an event that aimed to bootstrap Fungify during its mainnet launch. They successfully raised a total of 450ETH at a 45M FDV .

The token launch is scheduled for February 21st, which coincides with the mainnet launch of the Fungify Index. Upon launch, Fungify will provide support for various blue-chip NFTs, allowing users to borrow, earn yield, or leveraged trading.

  • Unicly V3 will be deployed on Frame.

Frame is an Ethereum layer 2 that focuses specifically on NFTs. By deploying V3 on Frame, users can use Unicly to fractionalize NFTs and trade them on Frame Marketplaces. Utilizing the Palette Protocol, which enforces royalty fees on NFTs, users who trade fractionalized NFTs on Frame will earn royalties fees back.

The Frame mainnet is scheduled to launch on January 31st, and Unicly V3 will be deployed thereafter.

  • Astaria released Starport

Starport from Astaria is a framework that enables developers to create new lending applications on EVM chains, supporting both ERC20 tokens and NFTs. Starport consists of three core modules:

  • The Pricing module establishes the specific terms for loan repayment or refinancing.

  • The Status module indicates whether a loan is currently active or inactive.

  • The Settlement module defines the specific conditions for liquidating an inactive loan.

For more information, you can read their full whitepaper here.

  • Hook Protocol introduced Odyssey

Odyssey from Hook Protocol is a derivatives DEX that specializes in NFTs. Operating on an Arbitrum Orbit's Layer 3, it provides trading of options and perpetual contracts with 20x leverage.

By leveraging the Upshot oracle and collaborating with Watches.io , a decentralized marketplace for watch trading, Odyssey enables on-chain watch trading. Watch owners can also use their watches as collateral to open positions.

Currently, Odyssey is undergoing auditing. For the latest updates, you can follow them on Twitter here.

  • Unlockd supports RWA assets in V2

By integrating with Roofstock Onchain, a blockchain-based platform specifically designed for trading Real World Assets, Unlockd V2 will allow users to obtain loans using a wide variety of assets. These assets include cards, sneakers, real estate and more. Unlockd V2 offers instant liquidity and a peer-to-pool model with no fixed expiration date.

You can find more information about Unlockd V2 here.

  • BendDAO introduced BDIN

Leading NFT lending protocol BendDAO is expanding its market share to the Bitcoin network. Now, BendDAO supports lending and borrowing BRC20 tokens, as well as acting as a bridge between the Ethereum and Bitcoin networks.

Initially, 70% of the total supply of $BDIN - BendDAO's BRC20 Inscription - will be distributed to the community through airdrops and IDOs, while the remaining 30% will be used to bootstrap activity on the Bitcoin network.

  • Introducing Liquidium

Liquidium is a money market designed for lending and borrowing Ordinals on the Bitcoin network. It operates using a peer-to-peer model with fixed loan agreements. The floor price information is currently sourced from Magic Eden.

Starting from January 10th, Liquidium has also introduced a point system. Lenders can deposit BTC to earn points, while borrowers can take out loans to earn points. For more information about the point system, you can visit their discord.

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#wasabi#fungify#unicly#astaria#starport#hook#unlockd#benddao#liquidium
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