The protocol is the first element of the DAO NIFTSY, which is a formalisation of the on-chain capabilities of blockchains in a wide variety of formats.
Initially, the Protocol is created on EVM-compliant blockchains (Ethereum, BSC and others), including L2 solutions such as Polygon, and later on on other decentralised and/or distributed systems.
The protocol allows for the following NFT operations:
Work with collateral, where there is a dynamic (replenishable) and a static (non-replenishable) part.
Collateral-backed and price discovery cross-chain protocol to provide NFT with inner value and liquidity.
The guaranteed inner value is a vault containing any crypto assets of Ethereum or BSC network for MVP. The capitalization of the inner value increases depending on the pledged assets, LP tokens and with each on-chain transaction.
NIFTSY protocol is a system of smart contracts on Ethereum and BSC networks, that provides guaranteed NFT inner value and liquidity.
NFT authors can receive royalties in native protocol tokens from sales in the secondary market.
Key features of the Protocol:
1. With the Protocol you can emulate NFTs of any order and level of complexity;
2. you can also perform wrap (unwrap) operations on NFTs of any order.
3. In addition, you can create new NFTs through a mint operation.
4. Finally, you can design any convenient interest policy, whether it be royalties, bill payments (recurring payments), charity, or anything else.