About the Brainstorming & Sharing ideas category

Tell us your valuable ideas for the development of Kyoko!

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Good afternoon. P2P lending is designed in such a way that a person who has NFT can give it as collateral and receive money. Having returned the money with interest, he returns his NFT. The question can a person lease NFT through the p2p system??? Let me give you an example: now the “stepn” project is popular in which you can earn money if you have sneakers. You need to walk or run with a sneaker and get paid for it. Let’s say I have sneakers, but I don’t want or can’t run with it, I don’t want to sell it either because I understand that its price will rise in the future. I want to give this sneakers to someone who wants to run, and he will pay me a small amount for rent.

Yes! What you are talking about is exactly what Cross-Chain Asset Lending(CCAL) will do. CCAL will launch in Q3 2022.

In CCAL, the lender customizes the lending requirements, including asset value, interest rate, and rental period. There is a cash deposit and should the borrower default and fail to return the asset, their initial cash deposit will be liquidated and sent directly to the lender. The cash deposit is an amount defined by the lender.

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if I have an NFT and want to rent it out, does the person renting my NFT have to pledge the amount of that NFT?
And if the NFT at the end of the lease period will cost much more, then it is easier for the borrower not to give back the NFT, but to give collateral and take the NFT for himself?
but the lender does not need it.

The deposit is decided by both sides. In CCAL, We aim to some Gamefi farming studios. They could choose lend and borrow the Game NFT 10 hours a day, and not need to buy it. CCAL could provide more flexibility and help them to avoid the risk and uncertainty.

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I mean something like this.
For example: i have an NFT pawn, I bought it to share a pool of 2 million tokens at the end of the year, nothing else interests me. But I have a friend who has almost no money at all, but he loves kyoko very much and wants to get into their metaverse before everyone else, and for this he needs an NFT pawn.
I could lend my pawn to a friend through the kyoko platform without collateral and he would pay me a small daily rent. But I would know for sure that my pawn will return to me and my friend will only be able to use its advantages, but cannot sell or give it to someone else.

Is this possible in the future?

CCAL could realize your example, just change “Pawn” with the NFT in games.
“You could lend your NFT to a friend through the kyoko platform without collateral and he would pay a small daily rent. Your NFT will be returned and my friend will only be able to use its advantages, but cannot sell or give it to someone else.”

For Pawn, that’s an interesting idea. The problem is that the team are still working on the specific reward and advantage about Pawn, so it’s may not attractive, but i will take it back to the team.

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Thanks.
Pawn just as an example of an idea)
The most important thing here is that I can give my NFT without collateral and be sure that the NFT will return to me.

Oh i get you, yes, you could achieve this by setting the relative higher deposit. There will be risk-averse people who will pay the high deposit(Because they know they will get deposit back), and you will get your NFT back.

Not everyone will be able to pay a high deposit for NFT, but even if there is such a person, I don’t understand how to solve the problem of increasing the value of my NFT.
For example: I gave rented the NFT cost of which $1,000 with a $1,000 deposit, but by the end of the lease, my NFT is worth $2,000. The question is why should a person return my nft? he will just leave a deposit and take nft for himself.

Yes, I agree with you, this could happen in the CCAL. Products need to be tested and upgraded with time and practice, any projects couldn’t guarantee that the design is perfect at first time.

And CCAL is designed for nfts in the games, I think that these kinds of NFTs may not change price dramatically in a short time.

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An offer to add a column with the approximate cost of NFT in p2p, the price can be loaded from large marketplaces, for example, opensea