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.

Three Problems that Starvaults Intends to Address:

  1. 1.
    NFTs are illiquid and lack of efficient price discovery
  2. 2.
    Use cases are limited due to its design that counters economies of scale
  3. 3.
    Lack of Interest incentives for NFT holders / lack of means to generate yields

Starvaults’ Solutions

  • Tokenization of NFTs
  • Token rewards distributed for liquidity suppliers, staking and other participations of the platform
  • Dashboard for advanced data matrix