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The Seed Round Fxhash, the groundbreaking generative art platform and marketplace, has successfully closed an oversubscribed $5 million seed fundraising round. Spearheading this investment initiative was 1kx, an early-stage crypto-focused venture capital firm renowned for its strategic ecosystem growth investments. Founded in 2021, Fxhash has emerged as the...
Decentralized NFT Lending Platform signum Launches On Tezos Mainnet
signum is a decentralized peer-to-peer DeFi platform on the Tezos Blockchain which enables you to use your NFTs as collateral to get loans (liquidity) in Tezos cryptocurrency (tez).
By: Lee Evans
2 October 2022
Disclaimer
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
signum launched on the Tezos mainnet on 1 October 2022 following 6 months of development.
signum was also tested extensively by a group of users prior to launch including a mix of developers, collectors, artists, and community managers.
The link to the website can be found here: signum.loans
signum is a decentralized peer-to-peer DeFi platform on the Tezos Blockchain which enables you to use your NFTs as collateral to get loans (liquidity) in Tezos cryptocurrency (tez/XTZ).
It is also a platform where lenders can use their liquidity to earn attractive premiums in short-term loans, with the added security of claiming NFTs as collateral in the case of default.
“We’re proud of our unique service to the Tezos community, which we hope will bridge the DeFi community with the NFT art community.” – PureSpider, Main signum Developer
signum is a decentralized DeFi service. It is not controlled by any centralized or private organization. It is a stand-alone platform that utilises a smart contract to securely coordinate loans between two parties.
“Our product aims to provide access to DeFi loan services for people with varying skills and interests which have not previously delved into the Defi world.” – Pierro, Concept, and Marketing
Lenders have a chance to use their idle liquidity to earn attractive premiums, and in the case of defaults, acquire valuable tokens at potentially much cheaper prices. There are no platform fees payable by lenders.
Borrowers can utilise liquidity for servicing immediate needs such as short and long term investment opportunities, real life needs, removing the need to sell a valuable token and removing the need to access funds from vaults for short term needs.
“We are excited to bring our service to the community we have been a part of for so long. It’s a great time to be launching signum.” – Matthew Tsirides, User Interface/User Experience (UI/UX) Lead
signum Team:
PureSpider: Main Developer/Smart Contracts. PureSpider is well-known for his useful tools in the Tezos ecosystem, for example his batch sender and fxhash-pfp template.
Matthew Tsirides: User Interface/User Experience (UI/UX) Lead. Matthew Tsirides is well-known as the creator of Ring Worlds.
Pierro: Conceptualist/Usability Tester/Marketing. Pierro is well-known for his People of Tezos pfp collection.
Disclaimer
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
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