Furion Money Market
Fuwa~~~We’re preparing the V2 testnet! In the new version, we’ll test a new function — Furion Money Market. In this medium, we’ll guide you through Furion Money Market’s functions and benefits, so you’ll have an initial grasp of it!
Why do we need the Furion Money Market?
The most crucial mission of Furion is to improve the liquidity of all NFTs, whether they are blue-chip bulls or non-famous projects. With the innovative design of NFT fractionalization, users will be able to transform their NFTs into ERC20 F-X tokens and do various financial operations just like any other ERC20 token.
What’s the benefit?
- More financial operations and choices
Users can use ERC20 F-X token to conduct financial operations to maximize the utility of their deposited NFT and bring extra profit.
Here are 2 examples of how to use our money market.
1. Leverage NFT borrowing and lending
If you have a lot of F-BAYC and are very bullish on them, you can use F-BAYC as collateral to lend money and buy F-BAYC again, then use F-BAYC you just brought as collateral to lend more money. Just like people use other money markets to leverage ETH!
2. Short NFT
If you think BAYC is in a bearish trend, you can short it by using ETH or USDC to borrow the F-BAYC token, and sell it for ETH or USDC. If the F-BAYC token price drops, you can earn profit in this process!
Fuwa hopes Furion Money Market can help your NFTs to maximize their financial value! New versions and functions will be released soon, stay tuned for more details~
