💰Proof-of-collateral NFT

Having your buy position represented through an ERC721 NFT unlocks unprecedented liquidity and DeFi opportunities.

  • Buyers will automatically receive Proof-of-collateral NFT for each of the BUY position

    • As their buy position is represented via. ERC721, buyers could trade out of their position at ease in our native Pump Marketplace (coming soon)

    • This NFT could also be used as collateral to borrow USDB/WETH in NFT-Fi platforms

  • This NFT is required to claim tokens / collateral after settlement period in the smart contract. Do not burn or lose access to your Proof-of-Collateral NFTs, as ownership is required to claim tokens once settlement is complete

How do I price the value of this NFT/position?

Stage 1: Create an offer

When you create an offer-to-buy, you are required to deposit collateral to attract seller to fill this position

If you sell your position at this point (before anyone filling the order), the underlying value is $11 USDB. Because the holder of this NFT can withdraw 11 USDB collateral if no one fills it with fee applies.

Stage 2: my offer-to-buy got filled

Once the offer is filled, the value of the position (aka NFT) changes.

There are 2 scenario at settlement:

A) Seller settles: the buyer (NFT holder) receives equivalent amount of Blast Token based on the amount of Blast Points

B) Seller defaults: the buyer receives seller's collateral as compensation and withdraw the buyer's collateral as well

Stage 3: Claim

Unlike other platform, the settlement is NOT automatically delivered to your wallet due to our NFT mechanism

  • The buyer (aka NFT holder) would need to claim the asset in PORTFOLIO tab

  • Therefore, any one can buy / sell position that has been settled BUT not claimed yet. At this point, the value of the NFT/position is very clear

Why do you issue these NFTs?

  • In order to unlock additional liquidity for the buyer (since they cannot default or cancel their order once filled), this Proof-of-collateral NFT is an innovative and sophisticated way to achieve this goal.

What Can I do with the NFT? (Soon)

  • The Proof-of-Collateral NFT can be traded on secondary marketplaces for a discount or premium according to your expected value of your order, natively on Pump Markets

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