For NFT Holders
NFT holders can utilize the Lending Platform as a passive income channel, gaining profits from their digital assets by renting them out on the platform. They gain rewards as their borrowers do, and earn tokens from the staking pool on a weekly basis.
NFT holders keep all ownership rights over their digital assets - including upgrading their NFT characters. The lending platform uses smart contracts to ensure the safety and security of asset ownership throughout the lending process. Holders transfer their NFTs to the platform’s smart contract and can view the status of their assets on the lending platform.
Smart contracts handle lending for holders. The entire process is done on-chain, and holders only need to confirm staking their NFTs with a one-click operation to list them for lending. The platform will match holders with borrowers, seeking out optimum earnings for each party. While borrowers gain rights to use NFTs in games, they do not hold any ownership over the asset.
Holders can only list NFTs that are compatible with Verko, as well as game titles or NFT collections that directly integrate with Cantina Royale. With various games set to launch on the platform, users can expect to see a growing variety of NFTs available for staking, listing, and lending.
Once an NFT listed on the platform has been rented out, borrowers will be able to utilize it for a period of 24 hours. The holder may not withdraw or sell their NFT during this time. However, the NFT holder may choose to unlist their NFT from the Lending Platform. Unstaking it from the Lending Platform will take 7 days, upon which the NFT owner will have the option to withdraw the NFT from the Lending Smart Contract to his own wallet.
Holders gain earnings from the staking pool directly. The higher the staking pool the higher the rewards each holder will gain. The staking pool increases based on the number of NFTs that are staked. Rewards are distributed on a fixed, weekly basis. Rewards are calculated using a simple formula:
TimeInLending - The percentage of the time the NFT was listed in the platform from the beginning of the week until the end.
NftWeight - NFT Level and rarity.
Total pool - the maximum of the min weekly pool and the sum of rewards received from the borrowers' game in this week.
Total units - the sum of all the NftUnits of the NFTs listed on the platform this week.