Jam Review No. 11: XCarnival
0x8B87
May 26th, 2022

There are more and more Web3 projects and products registered for ETH Shanghai Hackathon creating project profiles in MetaJam, hoping to find people to form teams, exposure and promotion, and seeking cooperation in this Web3 BUIDL network.

Today’s Jam Review features XCarnival, a market-optimized liquidity solution for NFT assets, which is an entry in ETH Shangahi Hackathon.

https://www.metajam.studio/event/eth-shanghai
https://www.metajam.studio/event/eth-shanghai

XCarnival

What does your product do?

DeFi+NFT+Liquity+Lending

XCarnival is a stable and secure financial infrastructure protocol in a multi-chain environment, providing a market-optimized liquidity solution for NFT assets in Web3.0, supporting both P2P (Person-to-Person) and P2C (Instant Lending Pool) models of asset-backed lending.

What unique value does your product features bring in?

XCarnival Solution 1.0 - XBroker

XBroker is a platform for NFT pledges and loans, which provides liquidity for the NFT market. Participants are divided into three roles: mortgagor, lender, and liquidator. The mortgagor is to provide NFT to pledge and borrow money, the lender obtains interest by lending USDxc, and the liquidator participates in the liquidation through auction bidding, that is, paying the auction price to obtain NFT.

XCarnival Solution 2.0 - XPawn

XPawn is a platform based on NFT assets issued on the Ethereum mainnet, innovative use of the pool model, and lending of value coins, in which users can participate as depositors or borrowers. Depositors provide liquidity such as ETH to the lending pool to earn interest and rewards and receive liquidity incentives. Borrowers can use their NFT holdings as collateral to lend ETH, etc. to the lending pool.

What need/problem does your product meet/fix?

XCarnival 1.0 - XBroker

  • Problem: lack of NFT liquidity, and difficulty pricing
  • Solution: NFT mortgage and lending under the P2P model: Complete lending between users through XBroker, and protect the rights and interests of investors by auction and liquidation.

XCarnival 2.0 - XPawn

  • Problem:
    • Can’t lend multi-NFT out easily
    • Have to wait for lenders to match the deal
    • High-price NFT difficult to get matched
  • Solution: Product iteration by
    • Mess Pool (majority) for standard assets
    • VIP manual channel for target high priced blue chip NFT (minority)
    • Mortgage and lending model upgrading: Pool2C model let borrowers make the deal anytime through the official pool (fund)

How does your product set aside from your competition?

XCarnival 1.0 - XBroker

The first platform to enable peer-to-peer lending of NFT assets on the BSC chain.

XCarnival 2.0——XPawn

  • Choose qualified blue-chip NFT collections into the whitelist
  • Unique NFT Oracle Pricing: Offer the reference price based on the floor price within a specific period of time (weeks)
  • Clients choose the lending scope and interest conditions
  • Complete the lending in seconds
  • Liquidating the collateral NFTs if repay overdue or NFT floor price drop down
  • Auction in multi NFT market such as Opensea and Looksrare for least value loss

What’s your growth path in the short, mid, and long-term?

XCarnival follow-up plan

  • A richer and more complete list of loanable NFTs: In addition to the blue-chip NFT categories supported in the first phase, XPawn will continue to upload community-approved NFT varieties to provide stable liquidity support for the massive NFTs.
  • Richer multi-chain ecology: After XPawn goes online on the ETH mainnet, XCarnival will go online one after another with Solana, Avalanche, Polkadot, Flow, and so on. After XPawn is launched on the ETH mainline, XCarnival will follow up with Solana, Avalanche, Polkadot, Flow, and other public chains; at the same time, it will also continue to promote the construction of ecological empowerment including community NFT Pass, including GameFi, NFT, meta-universe project cooperation including but not limited to whitelist, testing, and airdrop.

More discussion in the discord channel:

Arweave TX
875JDvKeyAJspy0mrC_JQOoFjw2EOzfzHM1lZBAI3iI
Ethereum Address
0x8B87Fc63DE32A3DF145A9DFc1CF2501a458e8253
Content Digest
oPKypDxqBVWD9LLlBbyy9ZP2RXegNcDlv6eMFjILpSc