anshspvt@gmail.com Chainlink fall 2022 N F T U T I L I T Y P L A T F O R M Simula Target Problems Dormant NFTs Suppose you own a pair of Jordan shoes in some metaverse and you know you won't be entering metaverse anytime soon. So what's that dormant NFT doing in your wallet? Get a utility for it at our platform, either giving it as collateral and taking some amount in stable coins or lending it to us and enjoying some interest monthly : ) Solving centralization issue It's a dapp, so zero to no censorship No single governance and single point of failure DAO is the perfect solution for controlling the working How are platform works ? Lending Collateral Lend us your owned NFT and receive a regular monthly 4% to 7% interest. Once you hit the button, your NFT get trasnferred into a smart contract. A DAO will now be able to access your NFT. It will be performing some businesses like renting your NFT to a exhibition or a user and yielding interest on it. It will cover the 7% provided to you and eventually try to earn more than that. Extra earnings of DAO will be divided among its members. A user can become a DAO member by stake 5 Matic. After your Lending duration, your NFT will be returned to you. List your NFT as collateral and get loan upto 40% of NFT value from us in usdt. Once you hit the button, your NFT gets transferred into a escrow smart contract for the loan duration. Repay the loan after the duration with 4% interest in a duration of 1 month. If you default, our DAO can foreclose your NFT. Collateral duration can vary between 1 month to 4 months. This time period is decided to avoid NFT fluctuations. Amount is given in Usdt for the same reason. Flow Chart Technologies Used ➡ Polygon blockchain for testing and contract deployment. Chainlink for getting offchain matic/usdt price Moralis SDK for signin and fetching Nfts IPFS for creating receipts Solidity for smart contracts Etherjs for smart contract integrations