Dyve: Short NFTs on ETH and Hedera
Updated 475 days ago0 Followers
Updated 475 days ago
Back Updated 475 days ago Updated 475 days agoVision
Short NFTs! Dyve is a new NFTFi Primitive allowing users to safely Lend, Rent, and Short NFTs
Description
You can finally SHORT NFTs!
NFT trading is broken. There are millions of unproductive and idle NFTs in peoples wallets. There is billions traded with limited NFTFi tooling and strategies for most and NFT scammers everywhere. Ultimately this means that retail gets rekt when liquidity crashes.
In the last few months, we've seen more people looking for profits in a bear market. NFT AMMs have demonstrated holders are willing to swap their intra-collection NFTs to earn yield, and new APIs have created a golden opportunity to build out a brand new tool to help people trade with a brand new protocol concept - NFT shorting.
How does it work? A lender sets conditions to lend their NFTs including a fee, collateral, and return condition. Return conditions include receiving the same NFT (rental) or ANY NFT from the same collection (for rental or shorting).
Borrowers browse listings, agree to conditions, pay the fee and post collateral and acquire the NFT or have Dyve sell the NFT for the best available offer price aggregated across marketplaces.
Finally, the borrower can either returns the NFT before the borrow expires, or forfeit their collateral. Dyve will also find the lowest asking price across all main NFT marketplaces to assist the borrower in closing their position at any time. The entire process can be done all on the Dyve protocol, allowing for a simple and safe experience!
Dyve is a simple and safe solution for a complex market need. It's time for "Up Only" to meet "Down Also" so the entire NFT ecosystem wins!
Achievements
Team Information
Neil has a background in Actuarial Science, traditional capital markets, risk management, spending his last 1.5 years focused on DeFi, NFTs, and Web3 research. He is excited to be the founder of Dyve and is hoping to help build on the frontier of NFT Finance.
Lucas is a serial entrepreneur. He has a bachelors and masters from Stanford University. He is currently a researcher at Apple and has founded a startup with multiple rounds of funding. He also runs multiple profitable businesses.
Jesper is a Web3 pioneer and advocate for blockchain adoption who is proud to be at the vanguard of the Web3 revolution as a Web3 entrepreneur, researcher, engineer, and developer.
Chad is a web3 developer with experience working as a Cyber Security responder and tech lead at Maple Finance. He is currently building new projects and looking for opportunities.
Stanley is front end expert exploring Solidity contracts to make the move from Web2 to Web3 full time. He's worked at different startups in the healthcare sector as the first engineering hire, building out teams for successful product launches.
Luck
@luck
OwnerJesper
@cryptojesper
Memberulticrypto
@U_bd400808bc03a1
Member
Chad
@U_46797
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