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.
