Dear Astarians, Thank you for allowing me to submit our second application. My name is tumf and I’m leading the project. I would like to apply for the builder’s program for our project - Ketos.
Ketos is a P2P decentralized NFT pawn platform.
The platform matches people who want to borrow $ASTR or $USDC against NFTs and people who want to earn lender yield on $ASTR or $USDC. It is one of the most primitive NFTFIs and is sometimes referred to as a PAWNFI.
It is based on a simple platform that requires only one round trip: an offer by the borrower and an application by the lender in response to that offer.
Borrowers can borrow against the NFT as collateral for a loan. After the loan is repaid, the NFT as collateral is returned, allowing the borrower to make a new investment without having to give up his/her prized collection.
Borrower can avoid repayment by giving up the NFT as collateral. In other words, the borrower can fix the profit of the NFT on the collateral.
- The lender earns a yield by lending funds to the borrower. If the borrower fails to repay the loan, the lender can take the collateral asset instead.
This is the basic feature we are providing, which is explained in the Project Overview, so I will spare you the explanation here.
Lending fund feature allows lenders to create lending funds for specific NFT collections. By setting the NFT collection to be lent, the minimum lending period, and the maximum loan amount, and then depositing the funds, the transaction is executed without any interaction with the borrower.
This allows for the following attractive use cases as belows:
It enables NFT Flashloan with NFT as collateral.
By controlling the NFT collateral value, we can guarantee the NFT floor price. Furthermore, the NFT collateral value can be increased on a daily basis, which we call GrowthNFT.
We have issued the following GrowthNFTs twice in the past.
the Ketos Lending Platform has been available on Binance Smart Chain , Polygon and Astar Network already. We are now tesing Lending Fund feature.
3Q/2022: Deploy Lending Fund feature with NFT Flashloan sample code. Have a GrowthNFT givaway campaign on Astar Network.
1Q/2023: Issue $KTS token (to be determined)
in 2023: Work on Substrate (it depends on other ecosystems)