Integration of DeFi and NFT
According to the CEO of BLOCKCHANCE, one of the largest blockchain conferences in Europe, the market cap of the decentralized finance (DeFi) has grown from $680+ million on January 1, 2020, to $15.6 billion just one year later.
Such heightened interest has led to investments from large institutions and accredited investors.
DeFi’s unsecured lending was one of the functions that boosted the market by making loans more flexible.
The original goal of the DeFi projects was to simplify the relations between credit institutions and borrowers.
One of the prominent examples is the Aave platform, enabling peer-to-peer (P2P) lending without formal and complicated collateral requirements.
Users who wish to lend out can deposit their funds into the pool so that they can lend out their funds and collect interest in return.
On the other side, borrowers can easily draw funds from the pools without collaterals and make use of the loaned fund for investments and/or other uses.
Furthermore, such no-collateral loans give power to the loaners on a P2P basis.
On the other hand, borrowers can easily borrow funds from the pool without collateral and use the borrowed funds for investment or other purposes.
Also, these unsecured loans are P2P-based, giving borrowers great powers.
Yield Farming is the largest growth driver for the DeFi sector, driving it from a $500 million market cap to $10 billion in 2020.
In a nutshell, Yield Farming means spitting out tokens to earn rewards.
The biggest advantage of coin staking is the reward system and low barrier to entry. It is also much more energy efficient than mining and has significantly less risk than coin investment.
Now you can get more rewards just by staking in various yield farming projects like Compound, Curve, PancakeSwap and SushiSwawp.
By integrating DeFi and NFT, there is a synergy that allows you to enjoy collectible value and obtain additional rewards through staking.
Additional Value of TriumphX
In the case of the Sole-X platform, the assets in the linked wallet can be deposited in Sole-X first and then traded with the deposited assets.
If you are a TRIX holder, you can participate in the staking program on Sole-X platform with the deposited assets.
A portion of the commission for the transaction amount on the Sole-X platform is distributed according to the deposited TRIX ratio.
Sole-X also includes a program that allows you to acquire additional NFTs when staking NFTs.
Unlike general NFT marketplace users, Sole-X active users can expect profit from NFT trading + compensation income from TRIX staking + revenue from selling NFTs received as NFT staking rewards.
As a result, it is advantageous not only for NFTs, but also for securing users with staking needs and securing coin liquidity.
Digital Transformation of all values
TriumphX operates two NFT platforms: ENFTEE.com, which provides a one-stop service for NFT publishers, from publisher discovery — content development — marketing — sales, and Sole-X.io, which supports cross-chain transactions.
ENFTEE is operated to support publishers who want to enter the NFT market and to discover new NFT content.
In the traditional art market, we develop a dedicated NFT gallery that can be individually promoted by helping art galleries, museum and artists to quickly switch to NFT, and NFT-only promotions that can promote specific sports teams during the game season or create and promote brand new products as NFTs will be created as a promotional page for specific brand and categories.
As a result, we pursue content diversity in the NFT market. Sole-X is operated for global users who want to purchase Klaytn-based NFTs, and users who want to save gas costs and easily buy and sell NFTs of various chains with one wallet and coin.
It aims to integrate the market through continuous chain expansion and to support an optimal environment where users with low understanding of blockchain can easily access and transact with various NFTs.
From the standpoint of publishers, ENFTEE can promote projects more efficiently, and through Sole-X, NFT can increase the value and obtain viral effects.
The Digital Collectibles, ENFTEE
ENFTEE.com, first introduced in February, was developed under the slogan “The digital collectibles,” which aims to make all digital contents in the world as asset that can be owned.
ENFTEE not only deals with game items, but also deals with various categories such as art, characters, and sports.
ENFTEE platform, developed based on Klaytn, has two main functions: a market function to purchase NFTs and a wallet function to manage NFT assets.
Since it provides a simple UX environment from owning an NFT of interest and putting it in a wallet, ENFTEE platform is designed for users to easily accept the concept of NFT.
The first NFT collection to be released is the artworks of Hong-Mo Kim, popular artist in Europe for the unique Korean sentiment.
Along with the opening of the collection, there will be a launch event that delivers limited edition T-shirts printed with the ‘Rock & Robot’ series to whom purchasing the Hong-Mo Kim’s NFTs.
They will be delivered to all holders around the world, excluding areas that cannot be delivered due to COVID-19.
In the character category, the NFT series of characters popular in Europe and Korea such as MUZIK TIGER, CupOfTherapy, and Chanchitos will be introduced by signing an IP contract with Daewon Media, which has a vast global character IP.
