Around $132 million of NFTs have been sold in the market already! 2021 is the year that witnessed a skyrocketing growth of non-fungible tokens. Thus, the amalgamation of DeFi and NFT gained huge attention; and the concept of DeFi NFT staking was born. This new protocol is attracting huge institutional investors because it helps in maintaining the liquidity of the market.
What Is BNFY?
BNFY- is the latest DeFi yield farming protocol that allows its participants to stake their digital assets in the form of non-fungible tokens. BNFY stands for B Non Fungible Yearn. It provides a secure and flexible farming opportunity on the platform. Users can stake their crypto assets within unique NFTs.
BNFY has made it possible to trade NFT staked value in an open market. It is a fork of the NFY project on the Ethereum blockchain network. BNFY is the first and one of its kind to launch a protocol on Binance Smart Chain. It has received greater success as compared to the original Ethereum based project. The smart contract has been thoroughly audited and came out clean without any potential threats or exploits. It makes sure that participants’ funds and information remain anonymous and safe on the protocol.
Users stake their crypto assets into NFTs with the help of the ERC-721 standard and earn $BNFY- governance token of the platform. The working of the platform is quite simple. When a user stakes a token, the platform records all the information of the stake (On-chain to the token’s metadata) by minting a new NFT token for them to sell. Due to an amalgamation of DeFi and NFT, the staking platform is entirely safe, adaptable, and secure. To get liquidity, users can easily sell all their NFT crypto assets on their current market value.
Plus Points That Are Talked About NFT Defi NFT Staking Protocol
The best of the DeFi world and NFT concept has been integrated into the DeFi NFT staking protocol development platform. Some of them are listed below;
- The platform is entirely safe and transparent.
- It is adaptable, flexible, and easily accessible.
- It offers users the liberty to unlock additional use cases of the platform.
- The best part of the platform is that it offers better liquidity provisions
- It offers better banking solutions through decentralized banking solutions.
- It offers environment-friendly solutions and services.
Why Develop A DEFI NFT Staking Protocol? Here Is The Answer-
Join the world of cryptocurrency with its transformation. Here are few reasons that explain to you the dire need for time to develop a DeFi NFT staking protocol;
- A DeFi NFT staking protocol offers attractive returns to its users
- An opportunity for lenders and borrowers to collect liquidity for offering liquidity on the platform.
- Users with dormant cryptocurrency assets can utilize their dormant crypto assets to stake on the platform.
- It holds the robustness of DeFi and the uniqueness of non-fungible tokens
- Every transaction executed on the platform is transparent and automatic due to the presence of smart contracts on the platform
- Optimized operation and lower transaction costs.
- A cost-effective and pocket-friendly solution offering platform
Where Cryptocurrency Exchange Script Partnerships Can Lead You In The Market?
Cryptocurrency Exchange Script holds a grip of the crypto market with its warriors specialized in research, analyst, blockchain developers, DeFi enthusiast, and much more. We had a constant eye on the growth of NFT and DeFi. We were assertive towards its growth in the coming future. And guess what? Our prediction was absolutely correct. We are one of the early adopters of the amalgamation of DeFi and NFT.
Therefore, DeFi NFT Staking Protocol Development is the need of the hour. We can help you reach your goal with optimized products and services. Therefore, do not hesitate to give us a call at any time. Our elite team leaves no stone unturned that guarantees your business success. Our services are entirely safe, secure, customizable, scalable, and adaptable. We are more than happy to serve you. Give us a call for a free demo!