nftshare

DeFi
nftshare

Project Description

We were inspired to pursue the project when we saw Cardinals PR to Metaplex that allowed the delegate of an NFT to freeze the token account. This opened up a world of posibilites for a program to be able to withdraw an nft from a users wallet under arbitrary expiry criteria. "Timeshare fractionalization" allows us to realize the promise of bringing defi to nfts. We create a basket for each collection. Users can deposit an NFT into the basket and gain 100 fractions which represent collective ownership of all the nfts in the basket. For free and at anytime the user can timeshare (borrow) an nft from the basket. Disputes are resolved by auction of the fractions. Where fractions are frozen for some length of time. Fractions will be tradable on an AMM. We will build NFT index tokens which buy a fraction of every gaming nft for example and possess auto-rebalancing mechanisms. Forgive the UX we did it in about a week. The program is fully functional on devnet. (On the UI side, we currently allow deposits. The borrow and withdraw functions, we didnt quite manage to squeeze in before the deadline)

Additional Information

https://docs.nftshare.fi/ https://twitter.com/nft_timeshare

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