RentaFi Announce Partnership with Unlockd!
RentaFi has announced partnership with Unlockd, a decentralized cross-chain NFT rending protocol.
Overview of Unlockd
Unlockd is the decentralized cross-chain protocol that provides democratized NFT liquidity and utility for Art, DeFi, Metaverse, Real World and Gaming through NFT-backed, cross-chain, instant loans with which you keep 100% of holder perks.
How it works
1. Deposit your NFTs
2. Appraise assets
3. Borrow tokens
4. Keep your position healthy
Benefits of Unlockd
Keep NFT utility
Keep full access to airdrops, yield, in-game perks, allowlists and all NFT holder utilities, while using it as collateral.
Unlockd obtains price data from 6 different crowdsourced and algorithmic appraisers to offer loans up to 85% LTV.
Don’t waste time waiting to agree with a lender, get an open-ended loan on the spot. No rush to repay.
Unlockd DAO Treasury protects lenders. Plus, our liquidity framework ensures liquidations at market value.
The combination of RentaFi and Unlockd is a protocol for the NFT x DeFi space, which facilitates the liquidation of NFT utilities by splitting the value of NFTs into use value and exchange value, while allowing lenders to manage their assets more efficiently. The combination of RentaFi and Unlockd establishes a pivotal position in bridging DeFi and NFT, which have long been leaders in the Crypto space.
Benefits of Partnership
As mentioned above, RentalFi splits the NFTs to be lent into use value and exchange value.
The use value is assigned to the borrower as a Wrapped NFT or a user role that replaces the owner role. The Exchange Value, on the other hand, is given to the lender as an OwnershipNFT, which represents the proof that the NFT was lent. This means that the lent NFT can be redeemed by Burning the OwnershipNFT.
Now, imagine that you are the lender. While lending NFTs to third parties, you can use the NFTs to redeem the lent NFTs to outside marketplaces and NFT lending protocols. In other words, you could obtain additional financing by depositing your OwnershipNFT as collateral with an NFT lending protocol while lending the NFT to a third party.
To give a simpler example, consider a situation where you want to sell that NFT while lending it out. The lender can sell the OwnershipNFT to a third party in the marketplace, and the buyer can later redeem the NFT that was lent by Burning the OwnershipNFT.
Unlockd plays a critical role in the operation of OwnershipNFTs and is essential in designing incentives for lenders.
RentaFi is Non-collateral NFT rental platform and protocol. Further, the strong point of RentaFi is to separate “Value from Exchange” and “Value from Use”. They can operate external protocols like NFT-Fi due to be higher composability and asset efficiency.
To use RentaFi, experience NFT Utility and release NFT dysfunction! Let’s RentaFi!!
Unlockd is the decentralized protocol that provides cross-chain NFT liquidity and utility for Gaming, Metaverse, Art and DeFi digital assets.