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Lithium Finance Enters Strategic Partnership with DegeX to Further Develop NFT Financialization

  • Lithium Finance will act as an oracle for DegeX to provide accurate pricing for non-floor price NFTs deposited by DegeX users.
  • Building on its existing system, Lithium will develop the NFT Collection Valuation system to provide fair price value not only for individual NFTs but also for the entire collection in a transparent and timely manner.
  • The Lithium — DegeX partnership aims to unlock further NFT financialization by providing extra liquidity for NFT holders to leverage their current NFT holdings.

Lithium Finance is proud to announce the strategic partnership with DegeX, a crypto derivatives and perpetual futures trading platform. As a strategic partner of the exchange, Lithium will provide timely and accurate prices for non-floor price NFTs deposited by DegeX users as collateral into the exchange. The two teams believe this partnership will further promote NFT financialization, unlocking new liquidity within the DegeX ecosystem.

NFT lending has been in the DeFi space for quite some time. In the CEX space, however, NFT as collateral remains relatively new. The two firms think unlocking new liquidity from NFTs is an innovative approach and will give users more flexibility and leverage in trading, rather than having their NFTs sitting idle in the wallets.

Unlike traditional NFT lending in DeFi, which primarily uses floor price as a single reference point, Lithium’s collective intelligence pricing model takes advantage of its vast Price Expert network to produce accurate pricing for rare NFTs. At the same time, its reputation system effectively eliminates bad actors and sideliners, which is crucial for users such as DegeX.

The overall NFT lending landscape is still in its early development stage. It’s widely believed that NFT lending could be one of the drivers of the next waves of growth. Reports show that the total NFT market is worth $22.98 billion, reaching a provisional peak of $35 billion in January 2022. Blue-chip NFT collections, which most lending protocols now support, represent 30% of the market. With the expectation that more collections will be approved in the near future. Under this partnership, both teams will be looking to take full advantage of this growing space.

About Lithium Finance

Lithium Finance is the first decentralized asset pricing mechanism powered by collective intelligence. We bring market participants together to estimate pricing for illiquid assets on demand.

Website | Telegram | Twitter | Discord | Medium | LinkedIn | Whitepaper

About DegeX

DegeX is the first and only NFT perpetual futures trading platform available in the space using the real-time valuation of NFT collections as collateral. DegeX believes that NFT values can be maximized to its full potential where holders can leverage their NFT holdings with flexibility.

Website | Twitter | Discord | Medium



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