Strip Finance will be rolled out for public participation on November 25, 2021. The platform’s testnet was initially accessible for partners and a limited group of community members allowing us to implement their feedback and make it better.
The testnet launch comes following the platform’s successful native token $STRIP launch. Strip Finance’s IDO was successfully conducted on NFTpad and Starter with overwhelming participation. It was later followed by a listing on PancakeSwap and a Kickstarter program on MEXC Global with a participation rate of 85000% which was 170X of the minimum required post which $STRIP is listed on the exchange under the innovation zone.
The testnet is built on Rinkeby and has all the proposed functions of fetching NFT assets from marketplaces, inviting bids from lenders, allowing lenders to propose the number of instalments, interest rate, loan-to-value ratio (LTV) etc.
“We are very proud of what we have built and this is a milestone for us in our journey to be able to deliver a well functioning product in the proposed timeline. We will keep adding more value features and ensure all our future targets are met as well”, — Varun Satyam, CPO of Strip Finance.
Strip Finance was launched with the idea of easing liquidity for the NFT market through its collateralisation platform to enable borrowing and lending. With the upcoming launch of the testnet, the project is a step closer to its mission.
ABOUT Strip Finance
Strip Finance is building a collateralized NFT borrowing and lending platform initially launching on Binance Smart Chain. The platform’s ability to collateralise NFTs through its liquidity protocol enhances the value proposition for both asset owners and yield-seeking investors.