Name of Project
Pawnfi
Proposal overview
Current Stage
Currently there are 280K active users in Pawnfi community. Pawnfi Testnet V4.0 has been deployed on ETH/ BSC/ Polygon testnet, and are looking to build out our Harmony NSA market and launch a marketing/business development campaign within the ecosystem. According to Pawnfi’s position which can be the base layer of any NFT/ Gaming projects, Pawnfi is able to attract more user base.
Project Description
Pawnfi.com is the first DeFi product which introduces the pawn concept, also a brand-new lending and leasing market to provide fair appraisal, liquidity and use case for Non-Standard Assets (NSA).
Pawnfi enables the divestiture of asset ownership, use rights, and earning rights of Non-standard Assets. Therefore, the holders of NFT, GameFi token, LP token, computing power token or bundled asset can initiate Pawn (collateral loan), Lease (rent) and Sale purposefully or simultaneously within one transaction on Pawnfi.
Compared with other lending protocols in the industry, Pawnfi can provide a wider range of asset support, a more flexible loan portfolio, and more diversified asset realization solutions.
Project Goals
The typical features of Non-Standard Asset include their scarcity and their attributes as an investment or collection. However, its nature determines that it is not smooth for trading, and many NSAs are embedded with unique utility (like gaming assets or computing power). Therefore, Pawnfi believes that the best way to unleash the value of NSA is to empower them with broader use case of collateralized loan and leasing, so that NSA holders can obtain cash flow without losing their ownership.
Pawnfi visions to become the pioneer to help any DeFi/ NFT/ GameFi/ Metaverse users generate their liquidity in hybrid dimensions.
GTM Strategy
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At the initial stage of Pawnfi’s official launch, we’ll focus on the to B service, especially strive to be the key supplier of pawn & lease marketplace to NFT/ Gaming projects participants. We’ll manage to customize our product, in order to make it an essential toolkit for global game guilds, such as YGG.
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SDK/ API for other projects - Other than making as a third party market place, Pawnfi will wrap SDK/ API for strategic partners to build their native Pawnshop in their eco system - imagine a pawnshop sitting at the middle of Metaverse. While NFT/ Gaming projects focus on user experience, Pawnfi will handle the financial logic to make their world more completed.
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Work with DAO/ Business Treasury - Given Pawnfi’s Non-Standard asset scope and crowd lending design, project or business side can utilize our “Initial Pawnfi Offering” to do the fundraising from not only the crowd but also their own community. They don’t need to sell their token, instead they place it as collateral and payback with predefined interest expense.
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Financial assets such as LP tokens can also be used to unlock liquidity on Pawnfi. With the emergence of the Uniswap V3, more and more customized financial products are expected to appear on the market, and the LP token will become more diverse and non-standardized. As a highly flexible platform with freely combinable modules, Pawnfi can provide the most powerful liquidity support for these asset holders.
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Later stage, we will support even more diversified assets & customized solutions for typical asset type. After having accumulated a certain number of initial users, we will gradually expand the asset portfolio and enrich the loan solutions, such as Crowd/Pool/Fast loan, to adapt to variable turnover rates and risk parameters of different type of asset. There will be specific sectors for each asset category. The corresponding marketing campaigns will be carried out as well.
Code Audit
Our smart contract has been audited by Peckshield
Team
Wesley, Chief Executive Officer
- Previously in charge of Security Lending & Borrowing business at Singapore DBS
- CFA Charterholder with more than 5 years working experience in investment industry
- Graduated from National Taiwan University and Singapore Management University
Stephen, Chief Strategy Officer
- Former CTO at QTUM, with more than 5-year blockchain developing experience
- Prior to blockchain, working at Microsoft and then Tencent Timi Game Studio as senior software developer for 4 years
- Master in Chinese Academy of Sciences
Dirk, Chief Technology Officer
- Former CTO at Yintech (NASDAQ:YIN)
- Has corporate experience in Fintech software development for more than 15 years
- Knowledgeable in distributed service-oriented architecture, big data processing and massive service
- Proficient in Solidity & Rust & Golang & C++
Han, Chief Product Officer
- Former core Murex architect in DBS Credit Desk and crypto team
- Former quant trader in Acadian, one of the biggest international hedge funds
- Has more than 7-year development experience of derivatives and quantitative products
- Graduated from Washington University in St. Louis and Purdue University
Others
8 full time developers + 3 BD associates
Proposal ask
150K
Breakdown
- R&D - 70%
- Marketing & Business Development - 10%
- Legal & Compliance - 8%
- Operation - 10%
- Others - 2%
Justification
- Integrate Harmony Protocol
- Onboard more NFT/ DeFi projects
- Integrate cross-chain solution and oracles like Chainlink
- Implement more lending and borrowing solutions among different asset scope
- Marketing activities - business development and marketing campaign within the Harmony ecosystem
Metrics for success
The results of product operations and marketing campaigns at each stage can be quantitatively measured by the growth of the user numbers of the Pawnfi product and the volume of collateral assets.
External links
- Website: https://pawnfi.com/
- Twitter: https://twitter.com/pawnfiofficial
- Medium: https://blog.pawnfi.com/
to see weekly updates on this thread here, to keep the community posted on this proposal’s progress!