Nfts
Salvor invests $1 million to boost Avalanche NFT lending
Salvor, the leader in peer-to-peer (P2P) lending, has just participated in the Avalanche Rush program with a cool million dollars in AVAX-USD, courtesy of the Avalanche Foundation. What is their game? To supercharge the crypto volume of NFT and memecoin loans on Avalanche’s C-chain and gives users serious leverage to obtain loans using their digital reserve as collateral.
DeFi in a hurry
As of 2021, Avalanche Rush is the nitro boost of the DeFi world, making the ecosystem more decentralized, accessible and, let’s not forget, cheaper to use. Now with Salvor, users can liven up their game by crafting loan offers, borrowing, listing – you name it – and accumulating rewards in AVAX or the ART token. Keep an eye on the dashboard: Salvor offers real-time leaderboards for those monitoring their points.
Lend, but be smart
This is where Salvor turns up the heat: they are redefining how capital flows through Avalanche’s NFT and DeFi scenes. Imagine getting AVAX loans with your digital treasures instead of selling them. For loan sharks, Salvor allows you to grant short-term loans and collect interest. If things go wrong, there is an automatic Dutch auction to hedge your bets and maybe even turn a profit.
What is a Dutch auction? In a nutshell, it’s when the price of something starts to rise and falls until someone buys it. Dutch auctions are very common in markets like US Treasuries and NFTs, where the price can decrease over time until a buyer decides the price is right.
But that’s not all. Check out these awesome platform features:
- Grouped trips in a single transaction: Overwrite buy, sell and transfer orders across multiple collections in one fell swoop, saving time and reducing gas costs.
- Dedicated pool balance: No more endless approval loops for each transaction. This setup allows you to browse deals, offers, and loans with a consolidated balance.
- Accurate bidding: Do you have a weakness for details? Bid on exact trait combinations in supported collections.
- Attractive offers on early repayments: Repay your loans early and benefit from reduced interest charges.
- Beyond NFTs: Get into lending fungible tokens to complete the liquidity party.
With the entry of Salvor, expect a shake-up in how liquidity plays out in the Avalanche ecosystem, making it a wild ride for NFT and memecoin enthusiasts looking to get the most out of their digital assets.
Is Avalanche a Buy?
According to TipRanks Summary of technical indicatorsOptimusm is a sale.
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