Taker is a liquidity protocol for novel crypto assets. It uses a quote-by-lock-in approach to price and allows asset holders to borrow stable coins. Taker starts with NFT assets to provide lending services for all kinds of novel crypto assets of the future.
The Taker protocol designs a new model for NFT lending. Soon, NFT synthetic indexes will be introduced to DeFi NFT assets and stimulate the liquidity and turnovers of NFT’s.
The Taker protocol builds cross-chain bridges to connect various public chains, such as ETHEREUM, POLKADOT, NEAR, SOLANA, and Polygon. These bridges will enhance the efficiency of asset transfer and enrich application scenarios.
The Taker token ensures effective collaboration for holders to use their voting power and participate in community governance.
The Layer 2 network is constructed using Polygon to reduce gas cost, improve asset turnovers, and expand data processing capacity. The network’s DeFi attributes and NFT ecology are supported by our protocol.
TAI is an interest-bearing token. After lending out DAI, a Lender can get the equal amount of TAI. However, as an ERC20 Token, TAI is not fiat-tethered and only serves as a gateway for NFT’s to enter the DeFi world.
· The price of TAI reflects the healthiness of the NFT marketplace
· Multiple scenarios for the TAI circulation to incentivize lending & borrowing
· A link between the DeFi world and the NFT world
· Essential to build a pool-based NFT lending protocol
Taker protocol designs a new model for NFT lending. Due to the nature of NFT, NFT tokens have different IDs corresponding to individual assets. Therefore, it is impossible for the market to price them uniformly. In the Taker protocol, an NFT asset is inherently deemed to have a value of zero, which changes only after the corresponding lending transaction is completed. Next, the lender becomes the temporary holder of the NFT asset and receives interest-bearing tokens and the homogenized ERC20 token TAI.
Any ERC721 tokens can be used as collaterals to provide loans. Based on the user quotations, the NFT pool contract will mint several NFT fractions called TAI, which are interest-bearing ERC20 tokens. Lenders can withdraw their principal and interest amounts by burning TAI, or calling the fraction contract to use DeFi tools supported by the Taker protocol.
With the growing popularity of NFT’s, there will be tremendous real-world assets converted into NFT’s and brought on-chain in the future. The Taker protocol will become a bridge to connect the real world with the DeFi world.
We are working hard to implement the pool-based lending protocol, which will greatly improve the efficiency of NFT lending.
Currently, DeFi is built on Ethereum, supporting almost exclusively Ethereum assets. However, quality assets across other public chains should be made available for DeFi, too. It is utterly necessary for the Taker Protocol to deploy a multi-asset, cross-chain bridge contract with reference to Chainsafe’s Chainbridge solution. This contract could also be used for transfering ERC721 assets.