Introduction to HYPESALT π¬
Last updated
Last updated
HYPESALT is the first NFT liquidity and NFT-Fi protocol on Klaytn. The NFT has been an emerging market, and it caused so many NFTs to be created. And still creating.
The biggest problem of this phenomenon is most NFTs have no chances to be traded in the market or are not that attractive to collectors/resellers because of low rarities. Because most holders have NFTs in the range of low/mid rarity, holders are just βHOLDβing NFTs without any guarantee when they can sell them. Most holders have NFTs in the range of low/mid rarity.
Our answer is NFTs need liquidity. The traditional auction system is the typical way of trading. Thatβs why NFTs are in lack of liquidities. And lack of liquidity makes NFTs challenging to integrate with DeFi services.
HYPESALT provides liquidity to NFTs by TURNING them into NFT-backed Fungible Tokens. These tokens can be used for creating a Collection, and the protocol mints cToken as shares of the Collection. Using HYPESALT Collections, users can deposit and redeem. Even use DeFi service. HYPESALT provides liquidity to NFTs with less rarity, making it easy to invest in NFTs at a Floor Price and integrate with various DeFi services.
What a Good news to NFT holders and investors!
It won't be marketable if we introduce just the NFT liquidity/DeFi protocol. To be a game-changer, we need to be a bit innovative. That is why HYPESALT proposes a curated NFT protocol by the highly interconnected community. And building a strong community is critical in the blockchain scene, without a doubt.
In HYPESALT, decentralized NFT curators can create their own collections with unique stories. The story makes a product (in this case, collection) more appealing to collectors, resellers, and even investors. Booming up by the community is the fundamental goal of HYPESALT. Most importantly, anyone can be a curator and create their own collections. Who knows? Maybe you are creative than you thought and be the next Murat Pak. π½
