INTRODUCTION
STATER
The year has been a very good one for Defi, with over $8billion USD locked in value. The growth of Defi also brought the sweeping wind of NFTs. NFTs has had over $100 million USD in lifetime sales, with most of these sales coming from gaming and arts.
The growth of these protocols – NFT and Defi – are testament to the massive impact cryptocurrency and blockchain technology is having in the world. More and more people are buying into the decentralized nature of blockchain technology.
The gaming industry is one of the fastest growing industries in the world. It is estimated that the numbers in sales for games this year, 2020, is around 200 billion dollars.
WHY STATER
The growth of the gaming industry has been good, but there are holes that needs filling. Value and monetary holes for example. Gamers need to move past the stage of just enjoying their games, they need to start earning financial values from the games the play.
Stater is a Person2Person lending platform that grants user the power to trade their NFTs and unlock the immense financial potentials in these NFTs without losing ownership.
STATER believes that gaming’s future stands on the foundation of creating open economies where gamers can benefit from their invested time and effort through the awarding of useful assets that can be transacted in the marketplace instead of the traditional locked system that doesn’t benefit gamers.
HOW STATER WORKS
Lending and borrowing in the financial world are fast becoming less impressive and a sure way to build wealth. Although many countries around the world are reducing their interest rates on borrowing, some even have 0% interest rates, the financial implications of these moves have been more spending and less saving.
While this sounds and looks good on the surface, there are loads of downsides to this. For one, people are no longer motivated to save their assets.
With Stater, as a lender, you earn everyday from the amount of asset you lend to others.
The growth of Defi also brough with it Yield farming. Yield farming is a way that cryptocurrency developers build community involvement in their currencies and create a valuable incentive mechanism for those in the community to be a part of create liquidity that useful to tokenized blockchain projects.
Yield farming is one of the ways that STATER helps its community members profit from the platform.
HOW TO BENEFIT FROM STATER
There are two main ways that you can benefit from the stater community:
1)MARKETPLACE LENDING
2)POOL LENDING
MARKETPLACE LENDING: When a person wants to loan NFT to someone, there is need for an escrow to hold the NFTs till when the borrower completes the repayment. Stater acts as an escrow between borrowers and lenders.
Because NFTs are not market regulated but the prices are instead based on personal choices, STATER helps to manage this also.
When a borrower submits his/her NDT assets on the marketplace for lending, he/she must choose the asset value, the borrow amount, the loan distribution (how he/she plans to pay the loan over a period), and number of installments.
When the borrower finishes with this information, the interest rate with be set at definite values at different levels in a game. And this is done by a special algorithm. The borrower submits the package on the platform.
The lender, on the other hand, will have to create their lending portfolio. When lenders see the packages that borrowers created, they too can create their packages with single or different assets.
When a lender agrees to the loan request from a borrower, a package is created and the asset of the borrower is automatically locked in an escrow account, to be released to him/her when the loan repayment is completed.
POOL LENDING: In this system, lenders pool their NFT assets into one big pool and from there borrowers can borrow NFT assets.
As in marketplace lending, the borrower will choose the amount he/she wants to borrow, the loan duration and the number of installments he/she will repay the loan.
Stater Fair value Oracle, an algorithm, automatically calculates the asset values.
Borrower gets the loan as soon the loan request is submitted.
For lenders, they get daily rewards. The daily rewards are gotten from the NFT assets borrowers pay back to the pool, and of that they get 10% based on their contribution to the liquidity pool.
Lenders are rewarded after every cycle, and each cycle is 24 hours.
For more information kindly visit the links below
https://stater.co
https://discord.gg/hBGgjhe
https://drive.google.com/file/d/1m9FpIUrsCnkYsI1s5ltKPBO-sKaKJsAO/view?usp=sharing
https://twitter.com/StaterFinance
https://t.me/staterlending
Author: Dulo Wegner
Btt profile: https://bitcointalk.org/index.php?action=profile;u=2166415;sa=forumProfile