docs.fungify.it
Open in
urlscan Pro
172.67.24.108
Public Scan
Submitted URL: http://docs.fungify.it/
Effective URL: https://docs.fungify.it/
Submission: On April 16 via api from US — Scanned from IT
Effective URL: https://docs.fungify.it/
Submission: On April 16 via api from US — Scanned from IT
Form analysis
0 forms found in the DOMText Content
FUNGIFY English English Blog SearchCtrl + K * Protocol * 🛣️Introduction * 🔓MarketVault * 👁️Oracle * 🙋Borrower * 📈Interest Rates * 👻Liquidations * 🎰Redemption Mechanic * 💧Pools * Tokenomics * 🖼️NFT Index Token * ☘️LUQ Token * 🍄FUNG Token * 🪙Token Distribution * Governance * 🔐Security * 🏛️Governance * Users * 🧑🎨Collector * 👨💼Seller * 🙋Borrower * 💁Staker * 🍄DAO Member Powered by GitBook 🛣️INTRODUCTION Fungify is composed of two parts: Index and Pools. INDEX The Index is a non-custodial marketcap weighted NFT index and algorithmic lending protocol, allowing for instant NFT sales, immediate NFT-backed loans, 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, whether they are seeking to sell outright, or to use their NFT holdings as collateral for a loan. The MarketVault is capable of permissionless ingesting of NFTs, enabling both a peer-to-contract marketplace and guaranteed liquidation counterparty. Stabilizing this system is an algorithmic interest rate control mechanism that balances demand for liquidity with its supply. A byproduct of the MarketVault is 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 strictly better than any existing NFT index alternatives because it also provides staking yields from borrowers. $NFT is fully backed by and redeemable for NFTs held inside the MarketVault, pegging its value to the broader NFT market via arbitrage. By using the 🖼️NFT Index Token as a unit of account for loans, the protocol can factor out the volatility of the broader market. This drastically increases the legibility of the system and allows for risk parameters to be agnostic of USD denominated movements in the NFT market. This allows the system to gracefully complement the market, rather than struggling to cope with market shifts. These components seamlessly mesh together to produce the primitives missing from NFT DeFi, finally unlocking the liquidity of the ecosystem. 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 2 months ago On this page * Index * Pools