Fungify is a new and interesting project. It offers a non-custodial NFT index, as well as an algorithmic lending protocol. Thanks to this platform, customers will be able to exchange NFTs very quickly and get loans with NFTs as collateral. Moreover, they can purchase NFT index tokens that will bring their owners yields over time.
The company aims to solve some of the most challenging problems in the Defi space. It wants to make NFTs more accessible to various users. To achieve that goal, the team created MarketVault. The latter enables NFT holders to get liquidity automatically. That is a great benefit, as liquidity is very important for token exchanges. While most platforms don’t take NFTs as collaterals, this is another advantage that this platform offers.
According to the group, the MarketVault can receive permissionless NFTs. Thanks to such a function, it provides enough liquidity. The firm also added an algorithmic interest rate control mechanism. It is crucial to balance the demand for liquidity. Besides, this system stabilizes the MarketVault.
Fungify also stated that its decentralized NFT Index Token (with the ticker – $NFT) is MarketVault’s byproduct. This token enables investors and traders to become part of the broader Defi community. They don’t need to worry about individual NFTs’ liquidity. Besides, the company claims that this index is better than its alternatives as it provides staking yields. The MarketVault backs this token, and its holders can easily redeem it if they wish.
The company also has a native utility token – FUNG, which is quite high-ranked on various ICO listing platforms. There are 1 billion ERC20 tokens in total. The team plans to launch an ICO sale soon. Overall, Fungify ICO has strong potential. This project also boasts a well-outlined roadmap.
What is Rysk Finance, and what does it offer?
Rysk Finance is a new platform that offers great services. It will produce a competitive yield in spite of market volatility. In fact, the team noted that market conditions wouldn’t influence the customer’s profits. That makes this project stand out among similar token-emission-based yield farms. The company relies on financial engineering to achieve such a result. Thanks to this strategy, customers will be able to access higher yields. Moreover, the company values transparency. Thus, its users will have full information about the risks they are taking.
The company created several great products to offer better service to its clients. Among them is the Dynamic Hedging Vault (DHV). It is an innovative self-governing options vault. DHV writes and buys options to generate delta-neutral yields for its liquidity providers.