First steps
Last updated
Last updated
In the dynamic world of Web3, Injective Kings stands as a symbol of achieving important goals. The project has a dedicated team and an active community, bringing pride and honor to everyone involved. Recognizing the responsibility at hand, there is a commitment to shaping Injective Kings into the outstanding project it is meant to be.
In the midst of the blockchain revolution, DeFi emerges as a fertile ground to explore. Millions are embracing blockchain technology, pushing the boundaries of decentralization. The rise in digital assets creates a demand for strong DeFi products. Collaboration becomes crucial, emphasizing the importance of aligning with projects dedicated to long-term development for the broader benefit of the Web3 community.
The vision extends to creating a lending business model on the Injective Network, allowing NFT holders to leverage their digital assets. This peer-to-peer NFT lending ecosystem aims for stability by identifying active projects for a impactful launch, with plans to onboard more projects in the future.
To facilitate this vision, the team plans to develop a comprehensive system accessible via both mobile and web extensions. Digital asset owners on Injective can easily view, select, and borrow against their chosen assets. The potential addition of a public offer feature enhances user engagement.
Diving into the financial details, the model is designed to encourage peer-to-peer interactions within the ecosystem. With borrowers and lenders as the main categories, users are presented with a simple process. Borrowers select assets, review terms, and choose repayment timelines, while lenders create offers against collections. Three repayment timelines of 14 days, 30 days, and 90 days are proposed, offering flexibility.
The borrowing process is depicted as a seamless journey. A borrower presses the "borrow" button, navigates through offers, selects an asset, and determines the repayment timeline. For lenders, creating offers against chosen collections initiates the process. Notifications prompt approval, ensuring the transfer of NFTs to lenders and $INJ to borrowers.
Integral to the DeFi and Web3 space, self-executing smart contracts are woven into the narrative. Aligning the smart contract with the proposed model becomes crucial, requiring a developer well-versed in Injective APIs to ensure flawless execution.
The path forward requires a synchronized team effort to develop a robust system. Collaboration, especially with projects having aligned goals, becomes crucial. The financial model aims not only for profit but also to build a resilient and impactful Injective & Web3 community. The story unfolds with the promise of a seamless experience for users meeting the outlined criteria, paving the way for a groundbreaking platform in the DeFi landscape.
