Key Vehicle: P-Token

P-Token is a new concept in the world of NFTs that seeks to address the issue of liquidity and functionality. It represents NFT collections in an ERC-20 token format, enabling their use in DeFi applications and trading platforms. Each NFT collection has its corresponding P-Token, which can be obtained through selling, borrowing, lending, or consignment. The use of P-Token provides greater liquidity and functionality to NFT collections, allowing them to be used in a broader range of use cases. As such, P-Token serves as the foundation for NFT finance, facilitating greater adoption and use of NFTs in the broader financial ecosystem. The formula for understanding P-Token is as follows:

Any BAYC = 1,000 P-BAYC

Any MAYC = 1,000 P-MAYC

Any CryptoPunks = 1,000 P-PUNK

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P-Token serves as the primary vehicle for Polarise's modules and represents the best practice for integrating ERC-721 NFTs into the DeFi ecosystem. Upon its launch, Polarise will support the first batch of NFT collections that are compatible with P-Token. As the Polarise ecosystem grows and community develops, other NFT collections will be integrated, expanding the range of assets available for P-Token-based transactions. By utilizing P-Token, Polarise provides a means for NFT holders to participate in DeFi applications and benefit from the liquidity, composability, and versatility of ERC-20 tokens.

How do I obtain P-Token?

  1. Users can easily swap NFT and P-Token at the ratio of 1:1000 in Flash Trade.

  2. Users will obtain short-term P-Token via participating in

    1. NFT Leverage

    2. Consignment

  3. By supplying/ depositing NFTs in Lending Market (lending market will be open in next version DAPP of Polarise), a certain amount of P-Tokens will be automatically showing on the user's account, which increases the borrow limit (similar to how you supply & borrow on Aave/ Compound, just that in Polarise you can also supply supported NFTs).

  4. Users can borrow P-Token (and other ERC-20 tokens) by supplying/ depositing supported ERC-20 tokens (including P-Token).

  5. Simply buy P-Token on DEXs like Uniswap.

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