NFT

Uniswap in talks with 7 lending protocols to ‘build NFT financialization’


NFT

cryptoslate.com

24 August 2022 11:15, UTC

  

Studying time: ~3 m


Decentralized alternate Uniswap is in talks with seven NFT lending protocols, based on a tweet from its head of NFT product Scott Lewis.

uniswap is the interface for all nft liquidity.

we at the moment are in talks with 7 nft lending protocols. we will probably be working with every one to resolve for liquidity fragmentation and data asymmetry. this is step one to constructing nft financialization.

— Scott 🦄 (@Scott_eth) August 23, 2022

In line with Lewis, Uniswap would work with every lending protocol to “resolve for liquidity fragmentation and data asymmetry.” He added, “this is step one to constructing NFT financialization.”

Lewis didn’t reveal which lending protocols are in discussions with Uniswap.

Neighborhood receptive to the concept

The NFT group has welcomed information of Uniswap’s rising curiosity within the scene.

There may be certainly a really critical data asymmetry, and customers want a extra concise interplay methodology to take part within the liquidation and public sale of NFT belongings.

— Shier 🦇🔊 (@shier_eth) August 23, 2022

In line with Shier, the group “wants a extra concise interplay methodology to take part within the liquidation and public sale of NFT belongings.”

Let’s chat, Scott! 🤝🔓

— Unlockd (@Unlockd_Finance) August 23, 2022

A number of NFT platforms like Unlockd_Finance, Liquid NFTs, Fuku, and others additionally expressed curiosity in collaborating within the talks with Uniswap.

Uniswap and NFTs

Uniswap has proven curiosity within the NFT scene with some acquisitions and integration.

The DEX not too long ago introduced the mixing of Sudoswap, a decentralized NFT market, to its platform to permit for environment friendly NFT swaps.

We’ll be launching NFTs on Uniswap with full @sudoswap help. Pool knowledge flowing in👇 pic.twitter.com/nsRt9Cp1Ss

— Scott 🦄 (@Scott_eth) July 22, 2022

Sudoswap already incorporates a few of the options of decentralized exchanges, comparable to swapping and automatic market maker for NFTs.

Uniswap additionally acquired Genie, an NFT market aggregator. In line with its announcement, its Genie buy is geared in the direction of “making Uniswap a complete platform for customers and builders in web3.”

DappRadar wrote that Uniswap’s transfer into NFTs “may usher in a brand new form of NFT that doesn’t solely depend on rarity components and exclusivity however precise monetary utility.”

NFT lending underneath the highlight

NFTs lending companies have been underneath the highlight in latest weeks as fears of liquidation encompass blue-chip NFTs on BendDAO.

In line with accessible data, round $55 million may very well be wiped off the market.

📢BIP#9 has handed the quorum with 97% approval.

Thanks for the group help!

🆕BIP#10 is proposed to regulate the implementation plan of Liquidation Threshold & Public sale Length contemplating the options collected from the BendDAO discussion board.https://t.co/Op5x8kt7uJ

— BendDAO.eth (@BendDAO) August 23, 2022

In the meantime, BendDAO has handed an emergency proposal to see its collateral liquidation threshold drop to 70% from 85%. The proposal additionally shortens the public sale interval from 48 hours to 4 hours.


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