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NFT blue chip liquidation crisis, what other new ways to revitalize the market?

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In this uncertain world, we should be confident in gameplay exploration

Original title: "NFT blue chip liquidation crisis, what are the new ways to revitalize the market? "

Original author: NFT enthusiast

For more than 3 months, BendDAO, the leading NFT lending agreement, has experienced a liquidity crisis brought about by a TVL highlight moment of 100,000 ETH and extreme market conditions. Fortunately, BendDAO began to gradually recover after being ridiculed that the NFT liquidity solution solvers themselves would be trapped in the spiral of liquidity depletion.

1. Review of BendDAO Liquidation Crisis

BendDAO is an NFT-Fi The head agreement in the platform mainly provides NFT mortgage loans. Users can pledge seven NFT projects including BAYC Boring Ape to lend ETH, and lenders can deposit ETH to obtain income to provide liquidity for the platform.

Since last week, as NFT transactions have been cold, the floor prices of many NFTs on BendDAO have continued to fall, triggering liquidation, and lenders have withdrawn funds. As of August 23, the balance of ETH in BendDAO’s ETH lending pool dropped from more than 16,000 to a minimum of 0.58, which was almost emptied.

Fortunately, the BendDAO official also took immediate measures, including adjusting the auction period, interest rate basis, liquidation threshold, and continuing talks on resolving bad debts. Coupled with the rise in the floor prices of NFTs such as BAYC in the past two days, market confidence has gradually increased. Recovery, ETH deposits eventually returned to pre-crisis levels.

Second, those liquidity solutions

Is there A feeling of deja vu, as if returning to the early days of DeFi development.

Like DeFi, NFTFi represented by BendDAO is also born around the solution of liquidity problems. For a long time, the industry has emerged a variety of solutions to solve this problem. Such as exchanges and aggregators, OTC transactions, lending, leasing, liquidity pools, liquidity providers, NFT fragmentation, etc.

Specifically, over-the-counter trading (OTC) refers to direct transactions between the two parties without going through a third-party platform, which can reduce the large price fluctuations caused by selling pressure; NFT loans use NFT as collateral , Obtain encrypted capital loans through over-collateralization, and revitalize liquidity. Currently, NFT lending mainly has three modes: Peer to peer mode, Peer to pool mode, and centralized mode. BendDAO, which has experienced a liquidation crisis It is the representative of the head agreement; NFT leasing, by retaining the ownership of NFT and only transferring the right to use, realizes the leasing of NFT, so that idle NFT can generate greater value; the liquidity pool supports users to create NFT vaults (vaults) and By providing NFT liquidity to the library to obtain transaction fees generated by transactions, representative projects include NFTX, nft20, etc.; liquidity providers mainly refer to decentralized NFT market-making agreements, which collect users' NFT and provide pledges to these users Rewards, and provide liquidity to the aforementioned liquidity pool; Fragmented NFT generally refers to dividing a complete NFT itself, then buyers can obtain a part of the entire NFT at a price of 1/N to reduce the purchase threshold. To improve the liquidity of NFT, there are also some projects that convert NFT into ERC20 Token through smart contracts. The simple understanding is to divide the ownership of works, similar to the "share split" in traditional financial markets;

Although they are all around the flow However, the transaction and aggregator sector, as the earliest field in NFT, is currently the subdivision track with the largest market share.

As the leader of the NFT trading market, OpenSea has occupied more than 90% of the market share for a long time last year, even though the platform has unstable trading systems, hacker attacks, stolen NFT assets of users, and insider trading scandals , but the main traffic is still concentrated on this platform.

However, entering 2022, the NFT market is no longer dominated by OpenSea. Magic Eden, LooksRare, X2Y2, etc. seized the window of Opensea's deep crusade, grew rapidly, and began to grab market share. Under the banner of "For the people, by the people", these platforms attract users by issuing airdrops to early Opensea users, and through staking Token Continuously attract users to participate in transactions by means of transaction fees, transaction mining, and pending order rewards.

The rise of Looksrare and X2Y2 has undoubtedly opened up the NFT market, but in view of their lack of full-chain asset listings, it also provides development opportunities for aggregation trading platforms such as GEM, Genie, and Ouyi NFT Market . Taking GEM as an example, the aggregator can realize functions such as bulk purchase of Cart, batch pending order, cross-market pending order, collection offer, sweeping goods Sweep, and embedded Mintlist in the primary market, which greatly reduces the transaction threshold and makes trading NFT more convenient. intelligent.

Third, what are the new ways to play in the valued NFT aggregator track ?

With the advantages of the aggregator platform, OpenSea acquired GEM. And transaction aggregator platforms such as Element, Sudoswap, and Ouyi NFT are also crazily catching up.

Comparison of functions of some well-known NFT aggregator platforms

In comparison, the Ouyi NFT aggregator platform is a bit special. Backed by the trading platform, it not only has the traffic advantage that similar competing products do not have, but also has stable and top-level production and research capabilities.

According to the official introduction, the Ouyi NFT market is a multi-chain aggregation platform with zero handling fees that integrates creation, collection, and transaction functions. Users can obtain orders from mainstream NFT platforms such as OpenSea, MagicEden, Looksare, and IMX Official in real time, and realize one-click order placement to multiple platforms.

At present, 7 popular public chains such as ETH, SOL, BSC, OKC, Polygon, AVAX-C, and IMX have been aggregated, supporting batch purchase, multi-currency payment, multi-platform pending order, collection certification, rarity ranking, Multi-chain scalability, automatic algorithm shielding high-risk NFT and other functions. According to the relevant person in charge, the platform will also support functions such as collective bidding, Sweep sweeping the floor, and batch pending orders. "Our goal is to build the strongest NFT aggregator platform, become the most convenient and easy-to-use Web3 traffic portal, and help users comprehensively control industry trading opportunities and trade quickly." The person in charge added.

Compared with competing products, the advantages of Ouyi NFT market are as follows:

1. Support mobile terminal to purchase NFT, trade anytime, anywhere

2. Support popular EVM, Solana, IMX multi-chain NFT ecology

3. Simultaneously aggregate OpenSea and Magic eden trading liquidity, and support one-click pending orders

4. Support all ERC20 Token Payment

5, support shopping cart, rarity query, real-time data ranking on the chain

6. Completely decentralized Launchpad market, regular discount sales

7, 0 handling fee

In addition to the product level, it is worth mentioning that the Ouyi NFT market has launched a new method of the Hundred E subsidy plan in an environment where the market is sluggish. "Throwing bricks to attract jade" on the issue of revitalizing the NFT market.

Bai E subsidy, as the name suggests, is a discount activity. The platform pays for the popular blue-chip NFTs and sells them to users at a low discount. Users only need to complete simple tasks (any collection, purchase, and order NFT) to obtain whitelist rights and snap up blue-chip NFTs at ultra-low prices.

Currently, the first phase of Ouyi NFT's 100E subsidy activity ended last Friday. The NFT participating in the discount is mfers with a very strong community vitality. 0.1eth, compared to the market price of mfers 1eth, you can earn as soon as you start.

Currently, this kind of activity is the only one in NFT, which can really benefit users. When asked why spend a lot of money to launch this activity? The person in charge of the Ouyi NFT market said: NFT is an important part of Web3, and the in-depth layout is based on the trend. On the one hand, Ouyi has certain advantages on the basis of production and research capabilities and traffic, and on the other hand, it is time to polish products A good opportunity, and a good product must take the user as the starting point.

"In this world full of uncertainties, we should be full of confidence in the exploration of gameplay. The 100E subsidy launched by the Ouyi NFT platform is a start. We look forward to more platforms launching more new ones to revitalize the market. Play together and drive the market to prosper," the person in charge added.

There is no complicated narrative and dizzying product logic, but it tells the most essential thing. Regardless of Crypto or Web3, product innovation is even more important than the influx of capital. After all, active users can really push the industry forward.

And Going back to the BendDAO event itself, it may be the recurrence of the familiar "spiral", or it may be an experimental reference sample that becomes more and more courageous, just like UniSwap in 2020 through revitalizing homogenization Token Just as the long-tail assets of NFT drives the bull market, we also have reason to believe that there will be an innovation that can revitalize the long-tail assets of NFT in the future, and it will become the engine of the next round of bull market.