What is Kyoko Finance? Kyoko Finance is an NFT Lending platform on Ethereum for guilds and players in the Gamefi marketplace. Let’s find out what is special about this project with Weakhand in this article.
Before jumping into the article, everyone can learn about some of the following NFT Lending projects to gain more knowledge about the NFT market.
- What is BendDAO? BendDAO cryptocurrency overview
- What is NFTfi? Overview of NFTfi cryptocurrency
- What is JPEG’d? Overview of JPEG’d e-turning
- What is OpenSky? OpenSky cryptocurrency overview
What is Kyoko Finance?
Overview of Kyoko Finance
Kyoko Finance is an NFT Lending platform that applies the P2Pool model built on Ethereum. Kyoko Finance’s goal is to solve pressing problems challenging the Gamefi market including rising costs of entry and assets in games being siled across different blockchains.
With Kyoko Finance, users can participate as depositors (Lender) or borrowers (Borower). Lenders provide ETH liquidity to the market to earn passive income while Borrowers can use NFTs as collateral to borrow a corresponding amount of ETH.
Kyoko Finance’s operating mechanism
Kyoko Finance’s operating model follows the following steps:
Step 1: Lender deposits ETH into Pools on the platform to receive passive income. There are 2 Pools being deployed on Kyoko Finance including:
- The Blue – Chip Pools: This is a Pool that supports NFT Blue – Chip collections including: BAYC, MAYC, CryptoPunks, Azuki, CloneX, Doodles.
- The Shared Pool: This is the Pool that supports emerging NFT collectibles. Currently Kyoko Finance is supporting Meebits, Moonbirds, Otherdeed for Otherside.
Step 2: Borrower deposits NFTs onto the platform as collateral. The NFTs in the 2 Pools will have different LTV, risk factor, etc. Borrower can choose 2 types of loans: fixed term or no fixed term.
Step 3: Borrower repays the loan in ETH at any time to receive collateralized NFTs in return.
Sale: There are 2 forms of liquidation: Liquidation by price and liquidation by time. When the NFT is liquidated, Kyoko Finance auctions the NFT to return the money to the Lender.
What is the difference of Kyoko Finance?
Kyoko Finance is researching and developing an NFT rental model for the Gamefi marketplace. Kyoko Finance deploys a cross-chain rental model that facilitates players to participate in games at low costs.
Road Map
Core Team
Update…
Investor
February 2, 2022: Kyoko Finance announced the successful call for $3M led by Animoca Brands. There are also other investors including: Infinity Ventures Crypto, Yield Guild Games Southeast Asia, Morningstar Ventures, Axia8, …
Tokenomics
Basic information about tokens
- Token Name: Kyoko Finance
- Ticker: KYOKO
- Blockchain: Ethereum
- Contract: 0x14a32f050FACF226Ec60882398A9BF36d91DBaC2
- Token Type: Utility, Governance
- Total Supply: 1,000,000,000 KYOKO.
Token Allocation
Token Release
- Seed Sales: Lock in for 6 months then amortize linearly over 2 years.
- Private Sale: Lock for 5 months then amortize linearly over 2 years.
- Strategy: Lock for 4 months then amortize linearly over 1.5 years.
- Public Sale: 33% at TGE, 33% each quarter thereafter.
- Team: Lock for 12 months then spread over the next 36 months.
- Advisors: Lock for 12 months then distribute over the next 2 years.
Token Use Case
KYOKO token is used for:
- Staking to receive revenue from the project.
- Staking KYOKO to receive veKYOKO – used to participate in voting activities on the platform.
Exchanges
KYOKO tokens are traded on Uniswap and BKEX.
Information Channel of Kyoko Finance Project
- Website: https://www.kyoko.finance/
- Twitter: https://twitter.com/kyokoFinance
- Medium:
summary
Kyoko Finance is a piece of the puzzle that contributes to the diversity and growth of the NFT and Gamefi markets. Hopefully the information in this article has helped everyone gain interesting knowledge about Kyoko Finance.