Announcing the Wind Down of Non Fungible Finance
Non Fungible Finance (NFF), a key team contributing to the Backed ecosystem, has decided to wind down operations. The onchain work we’ve helped create—the Backed protocol, community NFT, and paprMEME—will continue to live on, but the interfaces operated by NFF (withbacked.xyz, papr.wtf) will wind down at the end of August 2023. It’s been an exciting last 18 months working in the NFT finance space. Backed started as a Coinbase 10% Project in November of 2021, and the four founders left Coinbas...
Announcing the Wind Down of Non Fungible Finance
Non Fungible Finance (NFF), a key team contributing to the Backed ecosystem, has decided to wind down operations. The onchain work we’ve helped create—the Backed protocol, community NFT, and paprMEME—will continue to live on, but the interfaces operated by NFF (withbacked.xyz, papr.wtf) will wind down at the end of August 2023. It’s been an exciting last 18 months working in the NFT finance space. Backed started as a Coinbase 10% Project in November of 2021, and the four founders left Coinbas...
paprHeroics
The paprHero testnet competition has drawn to a close and the results are in! All 191 participants started with 50k phUSDC and through various strategies of borrowing, holding, buying, selling, and arbitrage, three competitors rose above the rest to the winners podium.In first place, 0x48c8….5a78 ended with 95382 phUSDC, followed by 0xf0e3…6220 with 75605 phUSDC and 0xf313…34a0 with 72836 phUSDC. For more details on the structure and rules of the competition, read the original paprHERO post: ...
paprHeroics
The paprHero testnet competition has drawn to a close and the results are in! All 191 participants started with 50k phUSDC and through various strategies of borrowing, holding, buying, selling, and arbitrage, three competitors rose above the rest to the winners podium.In first place, 0x48c8….5a78 ended with 95382 phUSDC, followed by 0xf0e3…6220 with 75605 phUSDC and 0xf313…34a0 with 72836 phUSDC. For more details on the structure and rules of the competition, read the original paprHERO post: ...
Testnet Competition paprHERO
Two weeks ago we introduced papr, shared the whitepaper, and teased a testnet contest: paprHERO. Today we’re excited to announce that paprHERO is live! Papr Hero is the first papr token to be created and exists on the Goerli testnet. We’re launching it with a (just for fun) PvP competition where players compete to see who can end up with the most (fake) USDC. The game starts with a Goerli airdrop — every player starts with a mix of phUSDC (papr-hero-USDC) and an assortment of NFTs (fake versi...
Testnet Competition paprHERO
Two weeks ago we introduced papr, shared the whitepaper, and teased a testnet contest: paprHERO. Today we’re excited to announce that paprHERO is live! Papr Hero is the first papr token to be created and exists on the Goerli testnet. We’re launching it with a (just for fun) PvP competition where players compete to see who can end up with the most (fake) USDC. The game starts with a Goerli airdrop — every player starts with a mix of phUSDC (papr-hero-USDC) and an assortment of NFTs (fake versi...
Papr
papr.wtf Overview Motivation How it works Benefits Implementation Choices Risks Closing ThoughtsOverviewThis post introduces a new way to construct lending markets, featuring a hard-to-find combination ofRobustness to liquidation shortfallsMarket responsive loan termsPooled liquidity with no lockupsThis is accomplished by simplifying an entire lending market to the trading of a token, a “papr” token (read “paper,” stands for perpetual APR). Papr is minted by borrowers, who transfer some colla...
Papr
papr.wtf Overview Motivation How it works Benefits Implementation Choices Risks Closing ThoughtsOverviewThis post introduces a new way to construct lending markets, featuring a hard-to-find combination ofRobustness to liquidation shortfallsMarket responsive loan termsPooled liquidity with no lockupsThis is accomplished by simplifying an entire lending market to the trading of a token, a “papr” token (read “paper,” stands for perpetual APR). Papr is minted by borrowers, who transfer some colla...
The Backed Community NFT
Minting now for free on Optimism! The Backed Community NFT is a lovechild of a tamagotchi, a baseball card, Vitalik B, and the Backed Bunny. It’s free to mint, non-transferrable (aka soulbound), and its on-chain art updates based on on- and off-chain activity. The goal of the Community NFT is to recognize, incentivize, and track community contribution, provide a tool for community action like snapshot voting, and articulate exactly what the community values and to what degree. It’s also a wor...
The Backed Community NFT
Minting now for free on Optimism! The Backed Community NFT is a lovechild of a tamagotchi, a baseball card, Vitalik B, and the Backed Bunny. It’s free to mint, non-transferrable (aka soulbound), and its on-chain art updates based on on- and off-chain activity. The goal of the Community NFT is to recognize, incentivize, and track community contribution, provide a tool for community action like snapshot voting, and articulate exactly what the community values and to what degree. It’s also a wor...
