Strudel R&D Update: The NFT Edition

Hello again, Strudel people! For the past few weeks, the brilliant minds at Strudel have been researching how to get involved in the booming NFT market. We’ve come up with a plan…

NFTs and DeFi

The consolidation of these collections has given rise to interest in combining the NFT space with DeFi. One of the most popular recent efforts is the “fractionalization” of NFTs into ERC-20 tokens that can be traded and utilized just like any other ERC20 tokens. Furthermore, efforts to use these tokens as DeFi collateral are nearly in place. This will soon seal the utility of the NFT class as a store of value.

There is an entire asset class waiting to be discovered. The “Rise of the Punks” will send the market towards other projects in the space that are adding value. We have explored many, but two other collections stand out as the most promising for the time being: Bored Ape Yacht Club and Cool Cats. These are newer projects which have achieved great success by building strong brands and engaged communities.

“Yeah, yeah, that’s all well and good, but how do we fit in?”, you ask. Well, if you continue reading, we’ll tell you.

The Strudel NFT Index

Strudel NFT Index: Liquidity Mining

Current and proposed Strudel Farm incentive allocations

vBTC Value Proposition: Trustless Collateral

How to Acquire Strudel NFT Index Tokens

Zerion

Balancer

Note: BPT tokens represent your liquidity in the Strudel NFT Index. You can trade them in on Zerion or remove them directly on Balancer by simply reversing the steps described above. Another cool thing about Balancer is you can remove any of the 4 assets in the Balancer fund. For example, you can add PUNK and remove vBTC if you’d like. You can also simply hold your BPT tokens to deposit in the upcoming Strudel yield farm. The choice is yours and yours alone!

Strudel Finance is the first and only one-way, trustless bridging protocol linking Bitcoin (BTC), Bitcoin Cash (BCH), and other centralized assets to DeFi.