ENVELOP’s Competitors. Who are they and what are they doing? Part II
The prequel of this article can be found under this link. https://teletype.in/@menaskop/envelop-competitors-sep-2021.
The article is written in Russian by Владимир Попов, inquire for translation.
We continue analyzing the market from the point of view of possible competitors/partners of the DAO ENVELOP and its individual elements.
Xcarnival.fi is a liquidity aggregator within the Metaverse available for everyone. Sounds loud! Well, let’s take a look at the dApp itself: https://app.xcarnival.fi.
Specifically focusing on this site: https://app.xcarnival.fi/megabox/mint:
The deposit is accepted in BNB, ETH, DODO, bUSD.
Farming can be found on a separate site: https://app.xcarnival.fi/farming/nft:
Finally, there is a primitive marketplace for unique NFTs: https://app.xcarnival.fi/mySteryBox.
The project appeared about the same time when DAO ENVELOP (NIFTSY) made it to the TOP-10 on the Binance hackathon: https://twitter.com/XCarnival_Lab and also through BSC.
Well, we’ve seen enough coincidences in our short experience of existence as a project. As for the rest, no other unique ideas were found. At least, at the stage of the initial examination of the patient;)
Next site: https://defrag.fi.
The actual launch of the project will begin on 01/12/21. In the meantime, preparations are underway. As the result of the development, the following should happen: “Metamaticians are the randomly generated NFTs .. those that receive a share in the first underwriting pool to receive awards. At the first stage, 3,141 metamaticians will be available for mining at a set price of 1.618 ETH per share and will serve as an entrance ticket to the DeFrag universe for providing loans secured by NFT. During the mining process, each metamatician will be assigned a random 8-digit number and a Greek symbol associated with the risk in the pricing of financial instruments ”.
The story to be continued … Shall we move on further?
Brief description of the project: “[The project allows] the governance and liquidity tokens to be lent within the project, providing good profit and rewards. Thus, token storing expenses could be significantly decreased.
The documentation is still in the early stage: https://docs.drops.co/dropsdao/introduction.
However, there is a simple but clear risk table provided: https://docs.drops.co/loans/risk-parameters:
Afterward, I went to test the loans on this platform: https://docs.drops.co/nft-loans/tutorial-how-to-use-drops-loans, but I couldn’t find anything else.
The last project for today.
First of all, the project is interesting because it has its own NFTs marketplace: https://app.solv.finance/marketplace:
Oddly enough, this “pioneer of financial NFTs” was created in March 2021.
The best of the product is stated under the link: https://docs.solv.finance/solv-documentation/infrastructure/financial-nfts.
However, according to the website the protocol life date is indicated since 19/10/2021: https://immunefi.com/bounty/solvprotocol/:
Conclusions of the second part
What do I see in the initial analysis of projects?
- First, the NFTs market has become broader: among other things, due to a broad approach to wNFT;
- Secondly, Xcarnival, Defrag, Drops, Solv are interesting projects but I simply did not find anything significant for implementation in DAO ENVELOP. Those primitive models for borrowing and investing value through collateral indicated, have been implemented long ago. I haven’t found anything more than obvious modules — like a marketplace or minting.
- Thirdly, the initial and superficial analysis of the documentation, GitHub and sites showed that while the solutions are either at the launch stage, or primary tests. What could it mean? It means that will come back to them later.
Until next time!
Written by Владимир Попов