What is Starvaults?
Starvaults is a platform connecting NFTs and DeFi to bring more liquidity to the NFT market on Flow. Any NFT holders can easily deposit their collectibles into a smart-contract controlled vault and get fungible tokens in return. These fungible tokens can be traded on different decentralised exchanges.
NFT owners can create their own NFT vault with a set of criteria, such as minting fee, redemption fee etc. They will need to create a trading pair to provide the starting liquidity. Then, users can deposit, buy and sell NFTs through this new vault.
- 1.NFTs are illiquid and lack of efficient price discovery
- 2.Use cases are limited due to its design that counters economies of scale
- 3.Lack of Interest incentives for NFT holders / lack of means to generate yields
- Tokenization of NFTs
- Token rewards distributed for liquidity suppliers, staking and other participations of the platform
- Dashboard for advanced data matrix