What Is NFTperp?
NFTperp is an innovative decentralized exchange that allows users to trade perpetual futures contracts based on the floor prices of NFT projects. This includes popular NFT collections like Bored Ape Yacht Club and CryptoPunks.
Background
0xJose founded NFTperp in 2023.
How It Works
This open-source DeFi platform allows users to speculate on the value of NFT collections without owning the actual NFTs. The system operates solely in ETH, ensuring traders can enter and exit the exchange with the same cryptocurrency.
NFTperp uses a perpetual futures model. Users don’t need the actual NFTs as collateral. Instead, the contracts track the floor price of the NFT collection. The platform also utilizes a robust liquidity system. Furthermore, NFTperp has introduced a voucher token, $vNFTP, which users can exchange on a one-to-one basis for $NFTP, indicating future ownership stakes in the NFTperp DAO. The NFTperpDAO is an organizational entity that oversees the protocol, including voting on adding or removing assets. More extensive capabilities for the DAO are being developed.
Key Takeaways
- NFTperp is a decentralized exchange that allows users to trade perpetual futures contracts based on the floor prices of NFT projects, including Bored Ape Yacht Club and CryptoPunks.
- The platform operates entirely in ETH, allowing traders to enter and exit the exchange with the same cryptocurrency.
- Users do not need to own actual NFTs to trade on NFTperp as the contracts track the floor price of the NFT collection.
- NFTperp has introduced a voucher token, $vNFTP, which users can exchange on a one-to-one basis for $NFTP – this signifies future ownership stakes in the NFTperp DAO.
- The NFTperpDAO oversees the protocol, including voting on adding or removing assets, and is working on expanding its capabilities.
