The insrt team is proud to announce our first product, the ShardVault, will be LIVE in 2 hours on mainnet. Our first vault in the ShardVault series contains a CryptoPunk, specifically Punk #9620. This is a monumental moment for insrt, as we mark the first of many vaults to come. Going forward we’ll be integrating with additional highly coveted collections as well as sharding more Punks. You may be wondering, what does this mean for you? How do I farm yield? Well let’s get into it!

How it works

Usually it takes a variety of factors to gain exposure to bluechip NFTs and the infrastructure built around them; our ShardVaults will forever change that. The ShardVault democratizes the NFTfi playing field by offering entry via substantially smaller ticket sizes. Upon fractionalizing the underlying asset, users can purchase fractions, or Shards as we call them, from the vault. The Shard represents a user’s ownership of a portion of the NFT inside. Once the vault reaches its deposit capacity, we get into the yield generating mechanisms behind the ShardVault.

We begin by collateralizing the underlying NFT on JPEG’d in exchange for pETH which then is deployed into JPEG’d’s Citadel product to capture yield. The yield is used to repay the loan and the excess yield is distributed to the holders of Shards. insrt’s smart contracts are the first and only contracts whitelisted to interact with the JPEG’d protocol. We’re currently the only team that can deploy active automations on top of JPEG’d for capturing yield.

The Shards you receive for depositing into a ShardVault are minted to your wallet in the form of an ERC-721 NFT. It was important for us to present our users with proof of their ownership & vault participation in a tangible form. With this in mind, we created unique collectible PFP artworks for each Shard within the vault. Upon mint you will be receiving your own NFT PFP that pays homage to the underlying NFT. Keep in mind, the first ShardVault release will have a limited supply of 100 Shards on a first-come-first-serve basis for both the ‘Dawn of Insrt’ NFT holders and the public.

We’ve created a composable, scalable mechanism for the ShardVault that enables us to collateralize on top of many lending primitives within NFTfi and deploy capital in a multitude of different yield generation strategies across the ecosystem. It’s possible to even deploy multiple strategies in a single vault, so stay tuned for future vaults.

Conclusion

At the time of this article’s publication, the ShardVault is ready for launch; this is just the first step in our product roadmap. Be on the lookout for subsequent vaults utilizing different lending and farming layers which ultimately will lead to insrt becoming the gateway for NFT financialization. Our vision scales to building something bigger than just a protocol, we are pioneering the NFTfi ecosystem in becoming widely adopted; through hard-work, resilience and patience, we’re already well on our way there.

A message from the team:

Without the community, none of this is possible, from selling out the Dawn of Insrt NFT mint in 7 minutes to now, launching our first product. We deeply express our gratitude to all for the immense belief bestowed upon our team and protocol. Countless nights went in to ensuring we provide you with a useful, intuitive product that you enjoy. Thank you.

• Team insrt

Twitter: https://twitter.com/insrtfinance

Discord: https://discord.gg/insrt

Website: https://insrt.finance