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Fungify
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 * Protocol
   * 🛣️Introduction
   * 🔒MarketVault
   * 👁️Oracle
   * 🎰Redemption Mechanic
   * 💧Pools
 * Tokenomics
   * 🖼️NFT Index Token
   * 🍄FUNG Token
   * 🪙Token Distribution
 * Governance
   * 🔐Security
   * 🏛️Governance
 * Users
   * 🧑‍🎨Collector
   * 👨‍💼Seller
   * 💁Staker
   * 🍄DAO Member

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🛣️INTRODUCTION

Fungify is composed of two parts: Index and Pools.

INDEX

The $NFT Protocol facilitates a permissionless, exchange-traded fund (ETF)
mechanism for non-fungible tokens (NFTs). It operates through a vault system
where NFTs are deposited and a corresponding $NFT token is minted, representing
the value of the NFTs within the vault. The $NFT token can be traded in the open
market, and its value is pegged to the collective floor prices of the NFTs in
the vault, as determined by an external oracle.

The Index is a non-custodial marketcap weighted NFT index allowing for instant
NFT sales and a yield-bearing NFT index token. With a small set of elegant
primitives, Fungify solves the most challenging problems at the intersection of
NFTs and DeFi.

The 🔒MarketVault primitive allows for automated provisioning of liquidity to
NFT holders who are seeking to sell outright. The MarketVault is capable of
permissionless ingestion of NFTs, enabling a peer-to-contract marketplace.

The MarketVault enables the first decentralized 🖼️NFT Index Token, $NFT, which
allows investors to gain exposure to a broad set of community curated NFTs at
any level of investment without needing to worry about the illiquidity of any
individual NFTs. $NFT is fully backed by and redeemable for NFTs held inside the
MarketVault, pegging its value to the broader NFT market via arbitrage.


POOLS

Pools is a cross-margin money market protocol that combines the elegance of
legacy DeFi with the ability to handle your NFT assets – both as collateral and
a source of yield. It is the first platform of its kind to allow both borrowing
and lending of NFTs, along with borrowing and lending of any other asset type.
Pools synergizes with the Index by facilitating a lending market for the $NFT
token.

NextMarketVault

Last updated 1 month ago

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 * Index
 * Pools