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NFTFi Weekly#2

NFT Finance's on the rise again

  • Insrt Finance launch fractionalized Bong Bear Vault.

Bong Bear is a rebasing NFT collection developed by Berachain. By owning this NFT, the owner can receive the Berachain token airdrop. However, due to the high floor price and low supply, most users cannot acquire a whole NFT.

On April 11th, INSRT will release the next Shard Vault - Bong Bear Vault. The vault will enable a much larger set of audience to have exposure to the Bong Bears collection. Users holding a Shard will also receive the Berachain token airdrop (!) in the future.

  • Rainfi has integrated with Tensor.

Rain.fiΒ is a money market for NFT that combines peer-to-peer liquidity pool systems and peer-to-peer custom loan requests. It also allows users to purchase NFTs through mortgages by making an initial upfront payment. The NFT bought through this process is automatically converted into collateral and held in the user’s wallet until the loan is paid off.

With this new integration with Tensor, users onΒ Rain.fiΒ can now instantly buy or sell NFTs without actually owning them.

  • Milady non-floor is now the highest TVL pool on Caviar.

Caviar is an NFT AMM that allows both full-range LP and concentrated LP into a single liquidity surface. Users can create their own pool with customized parameters such as price range, pool fee, and stolen NFT filtering.

After Zhu Su changed his profile Twitter to Milady, the floor price of this collection increased by 30% in a day. Caviar is exploring pricing non-floor asset using desirability classifier where they take a bunch of price estimates, computer vision logic etc and weight each NFT based on this algo and split the weights into buckets that have defined ranges. Milady is the only collection they support on mainnet of this feature so far, and the fact that the mid-rarity pool of Milady has jumped to number 1 in terms of TVL shows the demand of market for such effective non-floor pool capability.

P.S: by the time the article is published, HoneyComb has taken back the number 1 TVL spot, but still an impressive thing!

  • Introducing Dew.

Dew is a NFT aggregator for traders on Polygon. It is backed by investors such as Circle and Polygon Labs. Traders who have traded any NFT collections on the Polygon Network, Ethereum, Arbitrum, or BNB Chain within the past 180 days will receive Dew Point ( DP ).

In Chapter 0, users can earn Dew points by inviting more users using their code or retweeting Dew tweets. A higher Dew Point may lead to enhanced rewards in future chapters.

  • Pine Protocol is now live on Polygon.

Holders of Polygon NFT assets, including Y00ts, Rekt Dogs, Polygon Ape, Rekt Gang, Hell Cats, now have access to instant liquidity loans and the ability to earn $PINE rewards for borrowing or lending. Each week, the Pine protocol will give 208,000 PINE for every epoch to incentivize users.

The TVL and utilization of Pine are steadily increasing. With the expansion of the Polygon chain, we can expect more NFT collections to be added to Pine as collateral.

  • SOL - USDC options are now live on DeCalls.

DeCalls is a platform for trading native tokens and NFT options on Solana. Since the launch of NFT options in February, DeCalls has offered its first token option, SOL-USDC.

By providing investors with the opportunity to benefit from both price movements of NFT collections and exposure to the native token of the chain while managing risk exposure, the Solana ecosystem will benefit from this added layer as a whole.

  • NFTfi Tokyo meet-up.

RentaFi is a non-collateralized rental protocol that enables the lending and renting of NFT utilities. With Rental, users can freely rent game items, art, and metaverse land.

On April 12th, 2023, the Rental team, Cointelegraph, and Ozone Labs will co-host an event about NFTFi as a side event in ETHGlobal Tokyo. Anyone interested in attending can register here:Β

  • NFTperp trading competition season 3 ended.

After being open for 1 month, NFTperp trading competition season 3 has ended with the following statistics:

Number of traders: 648.

Number of trades: 18,841.

Total volume traded: 43,837 ETH.

Total liquidation notional: 305 ETH.

Top 3 trading pairs: Azuki, BAYC, MAYC.

For more information about statistics and rewards for the winners, please visit:

  • Introducing Collection. is a decentralized exchange (DEX) for NFTs with automated market maker (AMM) features. Using, users can create liquidity pools with custom NFT traits. Anyone can instantly buy and sell NFTs from these pools. At launch, Collection will support trading of traits or token IDs, marked NFTs, and all trades will take a 0% protocol fee.

Collection supports $ETH, $WETH, $DAI, $USDC, $USDT, $APE at launch.

  • Overall NFT lending market volume surpassed 1B in borrowing.

Last week, the total accumulative borrow volume from top NFT lending protocols such as NFTfi, Paraspace, and BendDAO has collectively surpassed $1 billion. Meanwhile, the number of daily unique users has steadily increased since May 2022, from 100 to ~300.

This growth, aside from the natural growing interest in NFT lending, is due partly to more players joining the NFTFi landscape, such as Paraspace. Although they only released their product in January 2023, they are now one of the top three NFT lending protocols by TVL and usage.

For more information, you can refer to this report:Β

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