Hedgey brings forth DeFi NFTs for new time-locked OTC tool
Hedgey OTC, a deal offering protocol for DAOs on Polygon, releasing a series of DeFi NFTs. These NFTs will grant holders access to locked tokens on their protocol and can even be used as collateral on other Polygon NFT protocols.
Their time-locked OTC tool allows sellers to offer time-locked token sales outside of liquidity markets and also for buyers to access off-market token deals. Typically these privileges are only accessible to large investors, but by democratizing access to these tools, Hedgey can provide DAOs and their contributors with easy access.
Token teams, DAOs, and web3 startups on Polygon no long have to go through an open market for token sales and instead have a runway available in MATIC and stable coins.
Polygon Studios is excited to partner with Hedgey as they provide a way for projects to convert stable coins without touching liquid markets.
About Hedgey
Hedgey is a deal offering protocol for DAOs/treasuries and their communities. Their latest tool, Hedgey OTC, allows DAOs to create public OTC offers that can be purchased in chunks from multiple buyers through Hedgey’s permissionless protocol. These OTC offers can be set at any price (including a discount) and have a pre-set vesting schedule, where the purchased tokens remain locked until a specified date. Buyers of locked OTC deals mint unique access keys (NFTs) that serve as transferable ownership rights to their locked tokens. These NFTs can be traded, transferred, or auctioned on any NFT marketplace, and can be redeemed (burned) by the holder once the lockup period is over. For DAOs, Hedgey allows them to generate income while avoiding open market sales and have better control on tokens entering liquid markets. For buyers, Hedgey OTC creates new access to the type of token deals that are typically reserved for large investors. The NFTs generated through Hedgey OTC deals are a new primitive for DeFi and NFTs, where buyers can now transfer, sell, auction, and interact with their positions on NFT marketplaces. This opens new possibilities for how DAO communities raise funds and reward contributors. For example, projects can auction token-backed NFTs, use them as token vesting vehicles for contributors, and use them as a staking alternative to decrease their token’s liquidity in exchange for a multiplier of the locked tokens
About Polygon Studios
Polygon Studios is the Gaming and NFT arm of Polygon focused on growing the global Blockchain Gaming and NFT industry and bridging the gap between Web 2 and Web 3 through investment, marketing, and developer support. The Polygon Studios ecosystem comprises highly loved games and NFT projects like OpenSea, Upshot, Aavegotchi, Zed Run, Skyweaver by Horizon Games, Decentraland, Megacryptopolis, Neon District, Cometh, and Decentral Games. If you’re a game developer, builder or NFT creator looking to join the Polygon Studios ecosystem, get started here.
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