Strip Finance, a collateralized NFT and DFI Liquidity Protocol, is using NFTs for better use by paralleling stable currencies and providing more liquidity.
A next-generation NFT platform called Strip Finance is making it possible to secure non-disguised tokens while still taking asset ownership and taking DFIs and NFTs to a whole new level.
Created by veteran crypto entrepreneurs, strip finance allows users to lend their NFTs for stable coins so that they can gain liquidity without selling or gaining the holding price to mint more NFTs.
In addition, strip finance allows lenders to earn interest on the platform and the opportunity to earn defaulted NFT at a discounted price.
Non-fungible tokens (NFTs) seem to have exploded this year. NFT sales more than quadrupled in the third quarter of 2021 to 10. 10.7 billion due to the ongoing NFT frenzy.
Despite this roar, most NFTs are becoming worthless for any good use. NFTs are usually difficult to use productively once purchased, as opposed to fungal tokens, which can be stacked, lent, or otherwise used in yield production.
Strip finance, on the other hand, solves this important problem in a better use of NFT collateralization, where lenders can lend their NFTs and borrow stablecoins.
Having access to a stable currency will enable owners to access liquidity for a variety of purposes, including further investment opportunities, personal expenses, or exploring market hedging. It can even be used in exchange for Fiat, the DFI protocol, or to buy more NFT.
Understanding Collateralisation – The Way to Strip Finance
The startup is creating a platform through which anyone who owns a desired NFT can use it as collateral to borrow money. Asset pricing information on the Strip Finance platform will be collected directly from NFT markets such as Opensea, Rarible and others, with no adjustment by Strip Finance.
The platform, which will support Ethereum Chain, Matic Chain, Beins Smart Chain and Solana Ecosystem, will allow borrowing without any intermediaries like other DFI protocols.
Strip Finance will follow the basic principles of nding / orrow market for its NFT collateralization. Accordingly, the goal of strip finance is to bring lenders and orrow recipients together on a platform where if anyone wants to take an orrow, they should first list their NFT in its marketplace. In addition, donors may then begin to express a desire to sue that particular NFT with additional information such as information duration, payment frequency and liquidation terms to keep both parties informed.
Moreover, NFT holders get stable currency without selling their NFT so that they can gain liquidity without selling or leveraging the holding value despite owning valuable assets.
For nd payers, it allows them to earn interest on their platform, and get the opportunity to earn defaulted NFT at a discounted price.
Initially, the platform will provide loans in the form of USDT stablecoins and aims to continue the expansion of its ecosystem with new features.
Strip finance: a platform of possibilities
NFT is no longer digital art, it is much more than that. As DFI and NFT move into the mainstream, one can expect disruption in the traditional theoretical world of money.
In addition, platforms such as Strip Finance will add to the evolution of the industry by approving NFT asset capital through its decentralized P2P and curated pool approach to the platform.
In August, the company secured about 500 500,000 in seed rounds from Old Fashion Research, Nothing Research, Tenzer Capital, Block 0, Shima Capital, Lancer Capital and J10M Capital.
Moreover, the advisory board of Strip Finance includes Siddharth Menon, COO of WazirX; Jayanti Kanani, CEO of Polygon; Tamar Menteshashvili, Solana Ecosystem and Growth; And Gida Jida Gao of Shida Capital.
Strip Finance: Thinking outside the art NFT
Strip Finance wants to take NFTs to the next level, and with the help of well-known businesses and individuals, there are good opportunities to build good momentum in the Benson Smart Chain and Solana. In addition, the founders of Strip Finance are seasoned crypto entrepreneurs who have backgrounds in several well-known technology companies, including Anchor, Bithumb, Consensus, BitFinex, Prometheus Labs and Coldstack.
The team believes that providing ways to parallel NFTs and providing liquidity value NFTs. Similarly, they believe that financially supporting NFTs will restore the transparency and legitimacy of NFTs.
Going forward, StripFinance plans to allow project tokens to be used as collateral on platforms such as NFTs by investing in crypto project debt financing.