AlphaQuark allow NFT owners to use the assets they own to access the liquidity they need by receiving secured wBNB (wKLAY) and BUSD (oUSDT) loans from liquidity providers peer-to-peer in a completely trustless manner.allow NFT owners to use the assets they own to access the liquidity they need by receiving secured wBNB (wKLAY) and BUSD (oUSDT) loans from liquidity providers peer-to-peer in a completely trustless manner. As MetaGameLand announced their Partnership with AlphaQuark.

Alpha Quark liquidity providers use Alpha Quark to earn attractive yields or — in the case of loan defaults — to have a chance at obtaining NFTs at a steep discount to their market value.

AlphaQuark Vision

Building a fully decentralized, permissionless, user-owner public utility, supporting the seamless financialization of NFT based economies through innovative mechanisms and highly user-friendly applications.

What are the main Alpha Quark Lender benefits?

Liquidity providers use their idle capital to earn attractive yield and, in case of Borrower defaults, have a chance at obtaining NFTs at a steep discount compared to market prices. Strategies vary among liquidity providers.

Is Alpha Quark safe to use?

Your NFT item is held in escrow in Alpha Quark’s Smart Contract through the entire duration of the loan and the item never goes anywhere. The Lender does not have access to it. The only way you can lose your asset is if you don’t repay the loan on time. And the Lender opts to take advantage of the foreclosure option. That’s the rules of the game!

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About MetaGame Land

MG. Land provides a “playground” for NFT players while adding a variety of rides to it. They are making MG. Land a place with hundreds of popular games. They provide a platform for NFT creators to meet their holders, i.e. to generate a game character from your NFT holdings. With the support of this technology to build and operate NFT passes in the web3 game world, you can use your favorite NFT as a combat character. You can also play as your favorite pixel art NFT in this virtual world amusement park! In addition, they added a social element to our land, which perfectly solves the problem of the lack of social dimension in many NFT base game lines.

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Audit Results

After auditing, 4 Low-risk and 2 Info items were identified in the NFTAQ721 project. No Critical, High or Medium risk issues were found during the auditing process. The final audit results are available in the audit report.

Audit Workflow

Beosin has focused on the core security issues such as contract permission control, execution of business logic, and signature data replay during the audit process. The auditing workflow is mainly as follows:

1. Conduct preliminary source code review;
2. Use Beosin’s self-developed automatic smart contract formal verification platform — VaaS to conduct an in-depth detection of the contract codes in all aspects;
3. Practical deployment and validation via sandbox simulation;
4. Manual line-by-line code review by security experts;
5. Complete the final audit report.

About Alpha Quark

Alpha Quark deals with intellectual property based NFT and metaverse. Alpha Quark provides NFT marketplace and metaverse experience for users. So that Alpha Quark token can be used as utility token in the ecosystem.

The NFTAQ721 of Alpha Quark is a lending platform where users can pledge their NFTs to borrow BEP20 tokens. The signatures of both lender and borrower are required at the beginning of the loan. And the NFT pledged in the loan and the BEP20 of the loan need to be whitelisted by the NFTaq contract. After the verification is passed, the borrower’s NFT is pledged to the NFTaq contract, and the lender’s BEP20 is transferred to the borrower.

The NFTaq contract will mint the NFTAQ721 for the lender, and then the lender can transfer NFTAQ721 to other users to realize the creditor’s rights transfer. When the loan is not liquidated, the borrower needs to redeem the pledged NFT with the principal and interest of the corresponding BEP20 token. If the loan is not repaid beyond the loan period, everyone can liquidate the loan, transfer the NFT pledged in the contract to the owner of the NFTAQ721, and burn the NFTAQ721.

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About Beosin

Beosin is a leading global Web 3.0 blockchain security brand co-founded by several professors from world-renowned universities. The team consists of 100+ security experts, including 40+ PhDs and postdocs. With the mission of “Securing Web3.0 blockchain ecosystem”, Beosin provides integrated blockchain security services and products to serve 1 million+ users in the global blockchain ecosystem.

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