Place/Date: - December 1st, 2021 at 2:00 am UTC · 3 min read
Contact: AscendEX, Source: AscendEX
Vera is a decentralized protocol built on top of major blockchains that provides essential financial services for NFTs such as renting, lending, and mortgages – making it one of the most powerful open financial platforms for non-fungible assets. By providing unprecedented access to NFTs and financing for NFTs across various blockchains, Vera allows any metaverse or marketplace to generate new revenue streams, reimagine user experiences, and empower communities.
The lending and renting capabilities on Vera allow users to list their NFTs on the marketplace with their desired rental terms. Currently, the Vera testnet supports collateralized NFT rentals, requiring the borrower to deposit collateral to rent an NFT. Non-collateralized NFT rentals will be available on the platform in late Q4 2021.
$VERA is the original utility token for the Vera network and is set up as both an ERC-20 and BEP-20 token. $VERA will be used to govern Vera’s system of NFT rental, lending and financing pools upon the launch of mainnet. Users can post $VERA tokens as collateral to raise their borrowing limits for NFT mortgage loans.
Users who borrow $VERA or rent $VERA-verified NFTs can also bypass the borrowing and rental fees to reduce the cost if they post the tokens or NFTs as collateral. Fees collected by the Vera platform are used to burn $VERA tokens and pay lenders. The constant burning of $VERA reduces its total supply, thus supporting the token price level while demand remains steady.
AscendEX is excited to list $VERA and help further drive Vera’s mission to build open, secure, and powerful NFT financial products that are equally available to everyone, everywhere.
AscendEX is a global cryptocurrency exchange with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 200 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions.
AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum. AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage.
Vera is the best decentralized way to rent, lend, and mortgage non-fungible tokens (NFT). Founded in 2021 and backed by notable investors in the decentralized fintech space such as Animoca Brands and the Web3 Foundation, Vera’s mission is simple: To build open, secure, and powerful NFT financial products that are equally available to everyone everywhere. Vera supports NFTs from major blockchains such as Ethereum, Polygon, BSC, Polkadot, and Solana. Using Vera, applications such as metaverses, games, and marketplaces can generate new revenue streams, reimagine user experiences, and empower their communities.