What is PumpX?

PumpX is a multichain consumer liquidity protocol, supported by industry leaders like Binance Labs, IOSG, HashKey, and notable NFT OGs.

Building on Blast L2

Our current project is on Blast L2, where we're committed to offering 100% rewards to users from BLAST’s developer AirDrops.

Enhancing Consumer Liquidity

Our goal is to increase consumer liquidity for on-chain assets. We're doing this by creating an open financial infrastructure, making it easier for consumers to trade or own on-chain assets.

Technology and DApps

PumpX is crafted using the Ethereum ecosystem’s technology and its Layer 2 solutions. We provide various DApps for everyday consumers and assist asset issuers in converting users with lower liquidity costs.

What is PumpCard?

PumpCard is a limited collection of utility NFTs for the Pumpverse ecosystem, with only 777 available for free minting during milestone events.

Exclusive Benefits for Holders

Holders of PumpCard will enjoy exclusive benefits, including future token airdrops and campaign privileges. The PumpCard can be a powerful tool for accessing opportunities in the NFT space, including larger token airdrops, better lending offers, more Blast credit, and free blue-chip down payments.

Open to All PUMPERS

The PumpCard is open to anyone in the PumpX ecosystem looking to build multichain liquidity – this includes users, creators, OGs, and investors. We value diversity, which we believe strengthens our community and protocol.

How to get a PumpCard?

PumpCard can be FREEMINTED via a whitelist, available to both Cooperative Communities and NFT Projects, as well as PumpX Users.

Minting Phases

PumpCard will be released in three phases: Mint For Partners Phase, PumpX Users Phase I, and Phase II.

Cooperative Communities and NFT Projects

To access the PumpCard WL:

• Promote PumpX within your community.

• Collaborate on a PumpX tutorial on Twitter.

• Optionally, host an online event themed around “PumpX.”

PumpX Users

Gain a whitelist spot by:

• Participating in the NewComer activity on the PumpX official website.

• Completing Mission 1–2.

• Sharing your support and story with PumpX.

Limited Availability

Remember, the number of PumpCards is limited and distributed on a first-come, first-served basis.

https://lending.pumpx.io/newcomer

Cooperation Register

For collaboration or eligibility inquiries, please contact us on Twitter or Discord. We will review your application and respond swiftly.

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TL;DR

PumpX, a cutting-edge multichain consumer liquidity protocol, is on a mission to revolutionize the utilization of idle funds scattered across diverse blockchain landscapes. By enhancing the financial infrastructure for consumer asset transactions on the chain, PumpX aims to elevate the depth and activity of on-chain asset trading.

xBank -> PumpX

In the Web3.0 world, a scarcity of financial infrastructure hampers market liquidity, leaving over $30 billion in idle assets in need of reorganization. xBank, since its inception, has been committed to simplifying crypto asset transactions, offering decentralized financial tools for investment and consumption in the crypto space. PumpX is inherited from xBank with a more innovative architecture to address the following critical market gaps in the current crypto ecosystem:

1. Underutilized On-Chain Funds: Over $1 billion in assets within the Blast ecosystem alone generate native yields but lack comprehensive tools for efficient yield organization. This issue extends beyond to more than $27 billion in LSD on-chain staked derivatives.

2. Inadequate Financial Tools: The surge in crypto users since January 2021 has outpaced the development of financial tools for on-chain assets. Less than 0.5% of NFT transaction volumes receive financial support from NFTFi tools, while real-world transactions see over 50% financed with various capital tools.

3. Untapped On-Chain Asset Consumption Loans: Despite a $9 billion transaction volume in the 2023 NFT market, the largest on-chain loan protocol, Blend, only holds a loan balance of $36 million.

Consumer-Grade Liquidity Necessity

Consumer-grade liquidity means accesing cash to trade on particular assets. As crypto consumption grows, the demand for funds increases. However, there is no banking system in a decentralized world for credit scoring and allowing overconsumption. Consumer-grade liquidity implemented by smart contracts, mirroring real-world financial support, is crucial for facilitating crypto asset transactions, including lower down payments for high-priced NFTs, support for bulk purchases, and assistance in transactions involving assets of special value.

The Multichain Advantage

PumpX acknowledges that idle liquidity is scattered across different chains. To address this, a multichain, inter-chain borrowing model becomes essential. PumpX’s solution seamlessly allows assets on secondary networks like Blast to support transactions on the Ethereum mainnet, providing users with unmatched flexibility.

Pumping Blast as the Pioneer

Choosing Blast as the starting point for the multichain model is strategic. Blast is poised to offer a diverse range of on-chain assets and trading scenarios, with PumpX foreseeing a vibrant demand for funds. The Blast/Blur team’s proven expertise in spot trading and lending of NFT-bound assets positions it as an ideal pioneer for PumpX’s multichain model.

Roadmap for Transformation

In the upcoming Q1 and Q2, PumpX will transition into a full-chain consumer-grade “bank” through three key directions:

1. Funding Level: Opening support for assets deposited from secondary networks beyond the ETH mainnet and Blast network.

2. On-Chain Asset Level: Expanding support for non-blue-chip and utility-functional assets, offering white-labeled financial tools, and continuing the Boxdop token point plan.

3. Product Level: Launching a fair launch platform based on the loan model, integrated with a robust token economy to support the issuance of new assets.

PumpX’s commitment to becoming a consumer-grade “bank” signals a new era in decentralized finance. With innovative solutions addressing market gaps and a strategic multichain approach, PumpX is poised to unlock the full financial potential of on-chain assets, creating a more inclusive and vibrant crypto ecosystem.

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The Open Money Market has been proven.

BNPL is a widely used payment solution in our daily life with trending transaction volume in recent years. The advantages of BNPL include:

• For Buyers: lowering burden on purchasing an item, entering a long position or holding an asset while enjoying the asset premium/benefits or services

• For Sellers: improving trade conversion, units per trade, retention and average transaction value

The lending volume of the NFT market soured for the last weeks and raised great attention. Lending to buy NFT contributes to a large portion of trading activities and volume. The trending of BNPL proved the needs of the open money market for buyers who are seeking money support for onboarding NFT space.

However, hiking borrowing interest makes it hardly acceptable for new adopters.

xBank, Efficient Lending With No Hiking Interest.

The nature of the xBank Open Money Market is a peer-to-peer lending protocol which is tailored to be consumer-oriented.

Matching Efficient Peer-to-Peer Model

Peer-to-peer (P2Peer) lending enables individuals to obtain loans directly from other individuals. The xBank Open Money Market connects borrowers directly to lenders once a borrower has spotted NFT opportunities and needs financing.

Why P2Peer in xBank?

1. The key benefit of a peer-to-peer model is flexible money utilization and manageable risk compared with peer-to-pool model which shares incomes and risks among lenders.

2. BNPL is a special loan type which requires flexibility of personalization for money demands like terms or interest rates.

3. Clear liquidation. A matched BNPL order will not be affected by market price of underlying collaterals. In case of loan default, the lender obtains collateral directly. Lenders may suffer direct capital loss with a peer-to-pool model because an NFT is not dividable to different lenders.

xBank improves peer-to-peer matching with the point-wise pricing of interest rates for lenders. In other words, for every single NFT collection lender, xBank slices his/her money pool (according to term and collateral ratio) into multiple lending offers and aggregates with offers from other lenders to form up an indexed lending offer table for borrowers.

On the other hand, the borrower who is looking for onboarding leverage will always be able to find a suitable lending offer (lower down payment or lower interest rate), hence the matching efficiency improved from the buyer’s side.

No Hiking Interest and Safe Loan

A lending offer is provided with term and collateral ratio conditions and hence these loan properties are fixed at the time this loan is matched. An interest rate repricing will not be initiated and borrower doesn’t necessarily participate in the loan refinancing.

A loan default is defined by late repayment only and independent with market price of collateral. Make it simple, the only obligation for borrowers is to repay their debts on time and the market price of target asset is neutral to their debt obligation.

Another point to keep buying power is that xBank supports collateral selling. For example, under the conditions that the liquidity of underlying asset is sufficient and the price of it is profitable, the buyers will be able to sell the collaterals to harvest asset premiums in time.

According to xBank’s payoff model, a collection owner or community who stakes ETH to offer BNPL trades will improve trading performance of the collection, including trading volume and price. On the other hand, a collection owner as lender will also yield lending interests.

Higher Money Utilization, Easier Lending Management

The pointwise pricing of interest rates boosts matching efficiency hence improves money utilization of lenders pool. A lender is not required to keep an eye on the market prices of collaterals and modifies his lending offers as it fluctuates. The only thing a lender should consider is the discount rate of collaterals they would love to accept in the default case.

Since xBank is overcollateralized, lender’s fund is secured by collaterals with a specific collateral ratio. For example, the current floor price of an NFT collection is 20 ETH, and the maximum collateral ratio set by a lender is 50%, then the upper limit of the single loan amount provided by the lender for a BNPL order is 10 ETH. Assuming that the floor price of this NFT collection drops to 10 ETH, then the upper limit of the single loan amount provided by the lender for the collection will automatically become 5 ETH and vice versa.

An NFT asset is not devidable and hence default of an NFT loan requires cash liquidation, or ETH in our case, which may not always be workable and leads to death spiral of the loan. Compared with automatic algorithms of peer-to-pool protocols, peer-to-peer makes it clear and easy to deliver and no lenders will miss out the best timing of recovering liquidity.

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xBank is moving further in NFTFi Space! In our latestest upgrade, we have introduced an exciting new feature: With xBank’s BNPL (Buy Now Pay Later), you can now easily purchase NFTs listed on the BLUR platform. Moreover, while holding your NFTs as collateral, you can also list them on the BLUR platform, which makes it a close-loop speculation on NFTs. This means that xBank now supports installment payments for NFTs on two major mainstream platforms, OpenSea and BLUR, providing you with more choices and flexibility of money conditions.

How xBank Differs from BLEND?

Similar to BLEND, xBank is a peer-to-peer lending protocol. Compared to peer-to-pool lending protocols, the peer-to-peer model offers higher capital utilization and more diversified risk. This translates to better utilization of your assets, enhanced asset security and protocol reliability that avoids scenarios of bank runs due to bad debts. However, there are notable differences between xBank and BLEND in the NFTFi space. xBank supports the most important NFT platforms, including OpenSea and BLUR, whereas BLEND works exclusively within its own platform, BLUR. For example, when you use xBank’s BNPL to purchase an NFT, you have the freedom to choose whether to list it for sale on Opensea, BLUR, or even on both platforms simultaneously. In contrast, the BLEND protocol restricts users to listing NFTs solely on the BLUR platform.

Financial Wellness through Flexibility

The popularity of xBank’s BNPL protocol lies in its financial flexibility. High-value NFTs are split into installments, eliminating the requirement of making a one-time, hefty payment. This financial flexibility equips users with general liquidity to own a new asset which opens the door to a wider range of user adoption.

Walking Together into the Future

In the days to come, xBank will continue to innovate and provide you with more services and liquidities. We firmly believe that the fusion of blockchain technology with NFT space will bring forth more opportunities and challenges. Whatever may transpire, we will walk hand in hand with you, bearing witness to the unfolding journey.

Boxdrop Earning Is Live Now: https://lending.xbank.plus/marketing-campaign

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Empowering You with Web3.0 Decentralized App

Create or Import Your Web3.0 Wallet:

With version 4.0, you can now easily create your Web3.0 wallet within the xBank app. Apart from it, you can import existing Crypto wallets, with complete control over your digital assets and seamlessly making NFT purchases, transfers, and listings within the xBank app. Reminder that your assets in the previous xBank versions will appear in the Funding Account after you create or import a wallet. xBank will be your Web3.0 money pocket exploring the limitless possibilities of the blockchain world.

Securely Backup Your Wallet:

Safeguarding of private keys and mnemonic phrases is important to every Web3.0 landers. Now, you can securely store your private keys offline, protecting them from potential threats with our wallet backup feature. This backup is your key to accessing funds even in the event of device loss or unforeseen circumstances.

Manage NFT Assets Easily:

xBank is one of the first mobile apps to support ERC-1155 assets on IOS. The comprehensive asset management system ensures easy organization and tracking of your NFT collections.

Making Transactions With Friendly Design:

are committed to providing a user-friendly experience, and the latest version streamlines the transaction process. Depositing and withdrawing funds is now more convenient than ever, farewell to unnecessary delays and enjoying swift, worry-free transactions.

Account Removing Option (Android Only)

For our Android users, we have added an account removing feature to ensure your privacy is fully protected. You can securely remove your account whenever needed, confidently managing personal information and funds.

Why Embrace Web3.0 Decentralization?

Web3.0 represents the future of the eco-internet - a decentralized, transparent, and empowering ecosystem. At xBank, we firmly believe in the transformative potential of blockchain technology. Embracing Web3.0 allows us to be free from limitations of traditional finance, providing you with financial sovereignty and access to a multitude of innovative decentralized services.

Security and Reliability

We are committed to providing the highest level of security to our users. Through end-to-end encryption and strict security protocols, your assets and data are shielded from unauthorized access. At xBank, your trust is of utmost importance, and we spare no effort in maintaining the highest security standards.

Stay Connected with xBank

Join us on this exciting journey into the world of decentralized finance. Please stay tuned to our social media channels and community forums for regular updates and upcoming features. Your valuable feedback plays a crucial role in shaping the future of xBank, and we highly value your active participation in our vibrant community.

Unlock the Power of Web3.0 Finance

Download the latest version of the xBank app now and unlock the power of Web3.0 decentralized finance anytime, anywhere. Embrace the future of finance with xBank!

Boxdrop Earning Is Live Now: https://lending.xbank.plus/marketing-campaign

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Amid this crisis, platforms like Benddao and Paraspace have encountered varying levels of bad debt and capital outflows. Today, we will compare the peer-to-pool (P2Pool) protocols represented by Benddao and Paraspace with the peer-to-peer (P2Peer) protocols represented by Blend and xBank.

Peer-to-Pool:

BendDAO:

On July 3rd, following the sharp drop in Azuki's price, the BAYC NFT series also experienced a substantial decline. BendDAO platform faced 267 ETH in auction debt, resulting in 22 ETH as bad debt. Due to time-weighted averaging issues, BendDAO's oracle feed price was slightly higher than the floor price on the trading platform and even surpassed the bid price in the market. This heightened the risk of platform bankruptcy and caused a significant reduction in the deposit pool. BendDAO's TVL decreased by 54% after the NFT price crash.

Paraspace:

Paraspace faced a situation similar to Benddao but was relatively less affected by the incident. Paraspace's TVL decreased by 23% after the NFT price crash.

Peer-to-Peer:

Blend:

Following the NFT price crash, Blur's TVL decreased by only about 10%.

Based on the TVL retention of each protocol after the Azuki crash, it can be observed that peer-to-pool protocols are prone to platform bankruptcy risks when NFT prices drop and users panic. If users do not withdraw their funds in a timely manner, they may risk losing their funds entirely.

How efficient are peer-to-peer protocols in matchmaking?

The following chart shows the daily loan transaction statistics for various lending protocols:

As can be seen from the chart, peer-to-peer lending protocols represented by Blend and NFTFi have consistently outperformed peer-to-pool lending protocols in terms of loan transaction volume.

Are there better peer-to-peer protocols?

xBank is an NFT peer-to-peer lending protocol that offers unique advantages compared to Blend. Some of xBank's notable advantages include:

No sudden surges in interest rates. From its inception, xBank aims to be a user-friendly BNPL protocol. Lower down payments. xBank's matching and incentive mechanisms make lower down payments possible. Support for collateral transfer. NFT borrowers can end the loan anytime before it is fully repaid. Here is a comparison between xBank and Benddao with Blend.

Conclusion:

Compared to P2Pool, P2Peer protocols like xBank work without the need for external oracles. Borrowers and lenders can directly negotiate and agree on loan terms, establish mutual trust, and implement risk control mechanisms. This allows both parties to better manage risks and take appropriate action when necessary. This flexibility is the essence of P2Peer models, which effectively distribute risk among most adventurous and alleviating concerns about platform bankruptcy for conservative borrowers.

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1. Affordable Top NFTs & Community Memberships
   xBank makes buying NFT consumables more flexible and affordable via its Buy Now Pay Later (BNPL) solutions. Community members can purchase NFT by setting up Payment Plans via xBank with a low Down Payment (Min Payment), and get their plan matched with a Lending Offer. The competition of lending pools for better money utilization greatly improves financial terms for borrowers and hence lower down the entry requirements for acquiring top NFT position.

1.

2. Extracting Financial Benefits from Community Asset Liquidity
   xBank allows community members to provide liquidity for their favorite NFT collection as a Liquidity Providers, to support other people to borrow to buy the NFT. After the lending offer is matched with a payment plan, they will be able to obtain interest income and xBank protocol incentives. In addition, each loan on xBank is secured with an NFT collateral. In the case of bad debt, the community member who provides funds can obtain the NFT collateral at a discounted price according to the lending terms he set for the collection.

3. Closed-Loop Transaction for Improving NFT Asset Liquidity
   Liquidity is one of the key factors for the growth of the NFT market. xBank improves asset liquidity by providing two-sided trading via BNPL and Collateral Selling. Collateral Selling provides users with existing solutions at a premium price for their liquidity management. A hybrid of lending protocol with two-sided market powers up trading activities of the NFT collection and creates more trading opportunities for traders.

4. Understandable Financial Leverage for Community
   xBank provides community members with an opportunity to amplify the value-added returns of NFT assets. When community members discover trading opportunities, they can obtain excess capital benefits with the help of xBank’s financial leverage and only need to invest a small amount of down payment. This provides additional financial value to community members looking to gain greater returns in the NFT marketplace.

   The paradigm of NFT liquidity is shifting to being community driven. In the past, a community member could only buy an NFT asset and viraling around to improve its price appreciation. However, their social values are under realized. xBank hopes to bring financial benefits to NFT community members, and help them achieve greater success in the NFT world by providing an innovative hybrid of lending liquidity and community inclusion.

Boxdrop Earning Is Live Now: https://lending.xbank.plus/marketing-campaign

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Product Updates

1. In week 22, 95% of protocol major ideas implemented and fully tested.

2. In week 23, xBank releases medium articles "Easy Lending for NFT" for borrower/consumer and "NFT BNPL with No Hiking Interest" for general ideas of how xBank benefits each group of protocol participants.

3. In week 23, xBank released a 5-day countdown to protocol beta launch combined with Galxe OAT campaign.

4. In week 23, xBank released the new protocol website with documentation links.

5. In week 24, xBank released videos of using xBank to add liquidity for supporting BNPL lending offers and using xBank to set up payment plans for buying an NFT.

6. In week 24, xBank launched the beta version of the protocol with the Boxdrop campaign.

7. In week 24, xBank updates features of lending limits and collateral selling item listing.

Partnerships and Events

1. In week 22, xBank announced a partnership with Matr1x which is a trending gamefi project with NFT Collections of Matr1x 2061 and YATC.

What's xBank?

xBank is an open money market with stability, efficiency, and solvency. xBank matches money demands and supplies to equip web3 new adopters with money leverages via Buy Now Pay Later (BNPL), Collateral Selling, and Trading Up services.

Boxdrop earning is live now: https://lending.xbank.plus/marketing-campaign

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One of xBank's innovative products is the Buy NFT Now Pay Later (BNPL) without hiking interest. This feature aims to facilitate asset-backed lending transactions between borrowers and lenders to improve the liquidity of NFT assets. Strategically combining Buy NFT Pay Later and Collateral Selling allows borrowers to enjoy lower interest rates, harvest the potential of price appreciation, and move forward to a better collection easily.

The BNPL Protocol is essential for NFT because it significantly improves the trading volume of NFT collections. In the current leading markets with BNPL, over 80% of the daily transaction volume for NFT collections is conducted through BNPL payment methods.

Why lending on xBank?

• Peer-to-Peer Lending: This model enables individuals to obtain loans directly from other individuals.

• Collateral Secured: Every single loan is secured by collateral, offering greater safety to lenders.

• Overcollateralization for Safety: The market value of the collateral is higher than the borrowed amount.

• Clear and Direct Liquidation: In case of borrower default, lenders can acquire the collateral at a discounted price.

• Maximized Money Utility: xBank slices a single money pool into multiple lending offers and aggregates these with offers from other lenders, ensuring your offer always gets matched.

• Efficient Money Management: There is no need for a lender to constantly monitor the market prices of collaterals and adjust their lending offers accordingly.

Here is a Lending Example:

LP can earn income by lending through the Collection Pool. Assuming the floor price of Azuki is 17ETH, the LP provides 10 ETH and continues to lend in the Azuki Collection Pool for one year with an APY of 18%, it can earn loan interest earnings of 1.8 ETH and protocol incentive earnings in xBank points. In case of borrower default, the LP also can obtain an Azuki at a discounted price based on the loan amount provided. It is equivalent to using 10ETH to buy an NFT worth 17ETH at that time.

xBank's NFT BNPL Protocol offers a unique solution to enhance the liquidity of NFT assets. The platform's innovative features such as overcollateralized lending, automatic money management, and discounted collaterals in case of defaults make it a safe and secure platform for borrowers and lenders.

Also, we are thrilled to announce our credit scheme "Boxdrops" for the early birds joining our journey. Stay tuned for more updates and details!

We are looking forward to the first season of Boxdrops activities launched by xBank.

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Product Updates:

• In week 19, the xBank team implemented a beta version of non-custodial xBank App and it is under auditing. From this July, fams will be able to interact with xBank Open Money Market with the xBank App for borrowing, lending and joining trading campaigns for rewards.

• In week 20, the xBank team finished the design of the home site, which includes contents of the money market with a similar design style.

• In week 20, the BNPL functionality of the xBank Open Money Market was fully tested internally and pending for internal reviews for optimizations before private launch.

• In week 20, the Collateral Selling of NFTs was also under testing for internal release.

Partnerships and Events:

• In week 19, xBank announced a partnership with Midaswap which is a fancy AMM tool for NFT.

• In week 20, the xBank team joined the event "from Web2 to Web3" hosted by BitValue in HK.

• In week 20, the xBank operation team participated in the Binance Most Valuable Builder (MVB) series event.

What's xBank?

xBank is an open money market with stability, efficiency and solvency. xBank matches money demands and supplies to equip web3 new adopters with money leverages via Buy Now Pay Later (BNPL), Collateral Selling and Trading Up services.

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Over 50% of transactions in traditional art auctions are paid using loans. In real life, it would be absurd to require someone to pay the full amount upfront when buying a house or a car. However, until a few months ago, purchasing an NFT required a one-time full payment.

With the improvement of Web3 infrastructure and efficiency, the user experience of NFT BNPL has become more and more user-friendly. The NFT space is rapidly growing, shifting from full payment to lending with a lower burden and repayment plan. xBank is definitely a good choice to kick off your journey to Web3.

The xBank Open Money Market allows consumers to use the NFT asset they plan to buy as collateral. They can borrow funds to complete the purchase and repay the loan with an installment plan.

Why Use xBank?

• Consumer-friendly: Just borrow to go, with no credit approval required before lending.

• Lower down payment: Enjoy the benefits of a lower down payment when there is good money supply.

• Affordable interest: Benefit from fixed-term loans with reasonable interest rates. The system will match your money demands with the best offers.

• Market price neutrality: As long as repayments are made on time, market fluctuations won't affect consumers.

• Capital preservation: When the market experiences sharp downturns, your payment is not fully made upfront, reducing the potential loss on capital.

• Asset price appreciation: xBank allows you to sell your collateralized NFT assets at a premium, maximizing your potential gains from asset price appreciation.

Let's look at an example of leveraging xBank:

Assume that yesterday you bought an NFT for 15.9 ETH, making a down payment of 13% (2.2 ETH). The remaining amount was borrowed as a loan from the xBank Open Money Market. Today, you sell the entire NFT for 16.9 ETH. The smart contract will automatically use the funds from the sale to pay off your loan, leaving you with a profit of 0.97 ETH. In this transaction, you only invested 2.2 ETH, bought the NFT through xBank BNPL, and sold it with collateral selling, resulting in a profit of 0.97 ETH.

We believe that NFTs, along with their derivatives, will become the main layer projecting our daily consumables into the Web3 space. Therefore, it is essential to lower the entry barrier for economic decisions. xBank is an open money market that makes the market accessible to those who don't own an NFT but need to own or upgrade their assets. By boosting money demands with consumer-oriented innovations like BNPL with installments and lower down payment, xBank is paving the way.

Join our community to explore more opportunities on Web3!

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Market Ideas

After a sluggish second half of 2022, NFT trading volume started to rebound in January 2023 and reached approximately $2 billion in February, a peak not seen in a long time since last year and doubled compared with previous month. [1] What is notable is that both the number of active users and lending volume increased along with the trading volume. [2]

While the prices of most NFT Collections are in a downward market, the increases in lending volume and trading volume can be considered as the beginning of long-term money exchange for underpriced assets. The key rationale of this is that NFT as a data type projecting social and cultural variants onto blockchain has dramatic unleashed potential. From what we are exploring now, Real World Assets (RWA) with a NFT proof of right are now proven to be viable and probably be the next breaking point. Without any doubt, it is always inspiring to reach the innovation margin of Web3.

Accessing is Still A Problem

As a challenger, Blur has brought a shift in the trading paradigm, providing a relatively solid bottom for the NFT liquidity. However, it still faces the problem that the number of real active users is far less than that of Opensea. As a new adopter portal, Opensea still enjoys potential network effects in the near future. Therefore, considerations on new adoptions for long term development have become an invisible barrier or an ecological comparative advantage for most NFTFi solutions.

From recent research reports including Binance’s research on the NFT market, the innovation dynamics of NFT markets come from:

• Due to the raising of new challengers, the structure of the NFT marketplace has become more and more fragmented. It is expected that competition will continue to be fierce, and the final market structure is far from being determined at this stage. As the market liquidity of NFT becomes better, more innovations in NFTFi will appear soon.

• NFTFi provides opportunities for NFT commercialization. It can attract more capital allocation for the NFT as an asset class, and help market participants unlock value. NFTFi has the potential for continued growth and development.

• At present, the main NFT lending models have their own comparative advantages. The builders in this part are still improving the models in different ways. In the future, a hybrid of money efficiency (more on p2pool) and capital utilization (more on p2peer) will find a way to make it a better money market for NFT’s potential in social, cultural and financial aspects.

Note: Graphs credit to Binance Research

[1] https://research.binance.com/en/analysis/financialization-of-nfts

[2] https://research.binance.com/en/analysis/state-of-nft-marketplaces

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Why Starbucks is Getting into Web3 and NFTs

Starbucks' membership loyalty system and member app have always been global leaders. It is not just about accumulating stars for free coffee but realizing large-scale personalization through big data and AI. This gamified experience deepens the connection with customers and ultimately provides personalized rewards, a membership plan that has been emulated by numerous brands.

However, Starbucks also faces many challenges, such as brand aging and a sharp decline in offline business due to the pandemic. Starbucks is no longer cool for young people, with Blue Bottle in the United States and Xicha in China. Therefore, Starbucks announced the "Odyssey Plan," based on Web3 technology, on September 12, 2022, to meet the changing needs of a new generation of consumers.

What is the Odyssey Plan?

The Odyssey Plan is a program that combines NFTs with the existing membership card system, mainly enhancing member experience, digital goods, and reducing the threshold for users to use NFTs. For Starbucks fans, it is also a way to connect with their favorite brand, receive special benefits, and potentially make some money in the process.

1.Enhanced member experience: Enhance member engagement and emotional connection through gamified member experiences. Gamified experiences include completing journey tasks, earning points, and redeeming stamps (NFTs based on Polygon), which can be sold or unlock different levels of special experiences.

2.Digital goods: Starbucks will also issue limited edition stamps, which members can purchase to support various public causes. The artwork on these stamps is co-created by Starbucks and external artists, and a portion of the sales revenue will support public causes chosen by employees and customers.

3.Lowering the threshold for users to use NFTs: Starbucks uses the term "stamp" instead of "NFT" to reduce user understanding costs. At the same time, Starbucks does not require members to have cryptocurrency wallets or understand the underlying Web3 technology, significantly lowering the threshold for using NFTs.

Odyssey offers a series of journeys, each involving a variety of tasks. For example, to complete the Holiday Joy Journey, you need to:

1. Correctly answer a series of Starbucks questions;

2. Match Starbucks' holiday cups with the year they were released;

3. Participate in the Starbucks Lifetime Challenge for a chance to win free coffee for life;

4. Make a "beautiful wish" and spread holiday happiness in one of the following three ways: Pass on happiness; Send a thank-you letter; Or compliment someone.

5. Buy a Starbucks gift card (any amount) for someone else.

Each task completed takes you one step further in the journey and increases your total points. There are three scoring levels in the test version (1000 to 2999 points, 3000 to 5999 points, 6000+ points), which will unlock future benefits. Starbucks has not yet revealed these future benefits but has said they may include virtual courses, purchasing limited-edition merchandise, and receiving invitations to exclusive events or trips.

Inspiration: Brands can leverage NFTs to upgrade their loyalty programs, turning shop-to-earn into participate-to-earn.

Brand loyalty is essentially about brands giving back to theirusers, forming a positive feedback loop connection. However, traditional brand loyalty programs are just simple shop-to-earn games, where the more you buy, the more points you get, which then turn into discounts. Participate-to-earn can make brand loyalty programs more engaging and profitable.

1. Participating in activities engages users more than just relying on discounts and is a better way to maintain user loyalty.

2. Transitioning from the simplistic act of shopping to a multi-dimensional participation, such as through games and digital collectibles, can increase user engagement and activity.

3. By utilizing NFTs to create a brand access pass, brands can identify their true fans and create something special for them.

Changes that Starbucks' Entry into the NFT Market Will Bring

1. Wider recognition: As traditional giants like Starbucks enter the NFT market, the awareness of NFTs will become more widespread, possibly even entering the mainstream consumer market. This will encourage more people to learn and understand NFTs, further promoting market development.

2. Greater standardization: The entrance of traditional giants may strengthen the regulation and standardization of the NFT market, as well as the supervision of the cryptocurrency transactions involved. This helps to enhance the stability and transparency of the NFT market, reduce speculative behavior, and promote market development.

3. More funding: The entrance of traditional giants will also inject more capital into the NFT market, promoting its growth and expansion, and providing more resources for the innovation and development of NFT projects.

4. More collaboration: The entrance of traditional giants will also bring more collaboration opportunities, such as brand partnerships, creative collaborations, and artist collaborations. This will help promote the diversification and innovation of the NFT market.

5. Higher quality: Traditional giants usually maintain high-quality standards in their products and services. Their entrance will also drive the improvement of the NFT market's quality, making it more mature and reliable.

Additionally, Starbucks' Odyssey program offers extra room for imagination. Currently, the 24 million Starbucks members in the United States are merely brand members with no strong ties between them. If the web3-based Odyssey program can upgrade these brand members to community members, this scattered group will transform into a highly cohesive networked organization, bringing unimaginable power. This will once again attract other traditional brands to follow suit, promoting the broader use of web3 and NFTs by more users.

The web3 ecosystem is actively welcoming more users

Starbucks' NFT plan has been mocked as Web2.5 by some Web3 players because it does not require a cryptocurrency wallet and uses Polygon instead of Ethereum. However, this is precisely where Starbucks' strategy is well-calculated. The Odyssey program can introduce Web3 technology and NFTs into the existing membership system, providing a simpler user experience and lowering the barrier to using blockchain applications.

We believe Starbucks' approach is very valuable. Many Dapps are currently dedicated to building excellent user experiences to serve more web2 users, such as xBank with its 180k users. Their users can easily deposit and purchase NFTs and manage assets, just like online shopping. xBank is an active consumer web3 platform, and they will soon launch the NFTfi protocol, seeking and matching NFTFi "entry leverage" for potential web3 users, facilitating their conversion, and acquiring their long-term credit value in the web3 world. xBank is expected to become the most adopted web3 platform by web2 users.

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We are delighted to announce that we have been selected by Binance Labs as one of 12 projects to participate in MVB’s sixth accelerator cohort.

Binance Labs is driving a distinctive program aimed at expediting the development of projects built on the BNB Chain, which is currently on its sixth cohort and has contributed to numerous successful projects on the BNB chain. As an affiliate of the largest cryptocurrency exchange in the world, Binance, the BNB Chain has the largest number of unique wallets, with approximately 280 million wallets that are compatible with the Ethereum Virtual Machine (EVM).

Binance’s MVB6 accelerator program received over 1,500 applications from around the world, with 53% from North America and Europe and 36% from the Asia-Pacific region. The fully competitive election and strict due diligence make it less than 1% of admissions.

As a part of the MVB Accelerator, xBank is building an NFT Open Money Market, making use of Web3 funds and assets to provide trading opportunities and incentives for newly onboarded Web2 users. Our portal app with viral marketing tool will hook more Web3 onboarders and our consumer credit protocol will improve the liquidity of NFT and other asset liquidities by providing more buy-in power.

We will continue to share exciting announcements in the future. You can also learn more about the Binance Labs MVB Cohort VI here.

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What are Bitcoin NFTs?

NFT (Non-Fungible Token): NFT is a complementary asset type of fungible token which implements uniqueness. For each NFT, normally speaking, it is attached with its own metadata and ownership information and hence can be used as a data type to present uniqueness of digital collections, digital consumables and particular assets.

Bitcoin NFT: With the Ordinals protocol, users can create, trade and collect NFTs on the Bitcoin network. This protocol turns these contents into an immutable number by writing arbitrary contents on the smallest unit of Bitcoin, "satoshi" artifacts, which are digital artifacts that users can track, transfer, store, buy and sell on the Bitcoin network.

Bitcoin NFT Market is Growing with Controversy

Most of the disputes focus on the fundamentals of Bitcoin. Some observers in the Bitcoin community believe that it will derive Bitcoin from its first intention as a means of digital payment and squeeze block space of payment transactions. Others believe that the NFT protocol embraces a new paradigm of Bitcoin and extends its utility limitation. According to the data of Ordinals Inscription, Bitcoin NFT has been enthusiastically sought after by the market.

Potentials of Bitcoin NFTs

• Bitcoin has historical impact and the largest user base

• The security and stability of the Bitcoin network has been widely recognized, which will contribute to the long-term development of Bitcoin NFT

• The launch of protocols such as Ordinals provides the infrastructure for the Bitcoin NFT market

Trending Bitcoin NFT Collections

1. Ordinal Punks In homage to CryptoPunks, Ordinal Punks is a collectible series of 100 NFTs, each a 192×192 pixel image created using an open-source algorithm from anonymous Web3 creator FlowStay. dingaling bought 7 Ordinal Punks for 211 ETH.

2. Bitcoin Rocks Bitcoin Rocks is another tribute to the early Ethereum NFT series, conveying the spirit of Ether Rocks, one of the first NFT collectible items on the Ethereum chain, which has a supply cap of 100.

3. Bitcoin Punks Bitcoin Punks is the first project to successfully upload original Ethereum CryptoPunks to the Bitcoin blockchain using Ordinals, all assets have been minted by collectors for free. According to its development team, they are checking the hash value of each image uploaded to Ordinals and comparing it to the original 10,000 Crypto Punk images. The link to Bitcoin Punks must be the first occurrence of the inscription, which must also contain the corresponding hash on the Ordinals protocol.

4. Bitcoin Shrooms Bitcoin Shrooms are some of the earliest NFTs on Bitcoin, some even before Bitcoin Rocks. The team behind Shrooms is unknown, and no NFTs have yet been auctioned or sold.

5. Ordinal Birds Ordinal Birds is a derivative series on the Bitcoin chain, containing 100 bird Ordinals starting from Inscription 2,728. The collection has sold out, but the team is still holding Birds #94, #96, #98 and #100 for founder Kevin Rose.

6. On The Edge Of Oblivion On The Edge Of Oblivion Links ETH NFTs With Bitcoin NFTs. A total of 555 entries. The NFT traded a respectable 1,409 ETH on OpenSea. The project was created by Web3 developer nullish, and the Bitcoin bridge to the NFT is currently live on the project's Discord.

In addition to NFT, there are more projects around NFT to support this paradigm in the future, such as Hiro Wallet, NFT market like Magic Eden, and new NFT lending agreements such as xBank. The NFT lending agreement provided by xBank can greatly improve the liquidity of NFT, which is of great help to the ecological development of NFT in any chain.

About The Future

The Ordinals Protocol introduces the possibility of the NFT field to the Bitcoin network, bringing new financial use cases and innovative applications. Although Ethereum currently has a clear advantage in the NFT market, the Bitcoin network is expected to gradually realize its potential with its historical impact and large user base. In the future, the Bitcoin NFT market will provide creators, collectors and investors with more opportunities to access and hence improve the popularity and development of the cryptocurrency industry.

As we have mentioned in previous posts, the current money market of NFT lending is not inclusive, making it niche and fails to fit in the growing needs of retail users. An implicit prerequisite of entering NFT money markets is to own an NFT, which dramatically shrinks its user coverage and misdirects products to the way of building sophisticated mathematical liquidation models for keeping balance between money efficiency and risk.

Removing this prerequisite will be an ambitious way to explore the open money market for NFT. In other words, making the money market accessible to those who don't own an NFT is the key point (making the money market accessible to those who need money to sweep/own more NFT takes the same logic).

The question is, how to lend money to those who don't own NFTs. Looking into previous practices of decentralized prime brokerages, for example deltaprime.io, we can find that lending to an established close ecosystem with necessary restrictions via several types of access control makes it very flexible to cover more types of borrowers. In simple words, lend money to consumers and lock the bought item into restricted contracts. (Discussion on problems introduced by transferring ownership of NFT assets will be discussed in following posts) This constructs an over-collaterized lending to consumers/sweepers who are looking for lower entry barriers with the loan against bought items. With an open money market, we can expect a better liquidity of NFT collections (cause we have a lower barrier to buying one).

Making the money market more accessible is one of the steps we must take and a sustainable financial infrastructure will always contribute to the business growth of the current market.

We’re building the protocol layer privately for now, but we'll share more info on how to get early access soon. We’re ecstatic for others to join us on this journey.

Before this, xBank had been dedicated to building Dapps with excellent user experience and had onboarded more than 180k users with our Portal App. With xBank's Portal App, users are now able to on/off-ramping, purchase NFTs with Visa and manage assets frictionless like shopping online. xBank is an active consumer web3 platform leading invested by IOSG Ventures with amazing partners like Hashkey, Fenbushi, Infinity Ventures Crypto, Headline and more, helping us to be the most adopted Web3 platform by Web2 users.

Official Website: http://xbank.plus/

Twitter: https://twitter.com/xBank_Official

Discord: https://discord.gg/xzbTv4E6rM

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Current NFT lending protocols are more keen on liquidity of pro/scientist and fail to fit in growing needs of retail users. Mapping lending market structure of Fungible Tokens into NFT doesn’t work, because NFT’s social and cultural hooks make it more adaptable to retail users. More importantly, the first time cost of participating in an NFT community/project is still neglected and it has been poorly connected with the current lending structure. The mission of xBank protocol is to introduce the growth needs of NFT lending by retail users, in an appropriate form, to the unboosted on-chain lending market.

We are expecting to build a more native and sustainable financial infrastructure to serve New Adopters and the NFT market. This is an ambitious target to achieve and we have included the most powerful talents for it. On platform operation and product design, we have talents from 10 million level fintechs like Huobi and Lexin joined as our most reliable builders to push targets forwards to completing our mission.

We’re building the protocol layer privately for now, but we’ll share more info on how to get early access soon. We’re ecstatic for others to join us on this journey.

Before this, xBank had been dedicated to building Dapps with excellent user experience and had onboarded more than 180k users with our Portal App. With xBank’s Portal App, users are now able to on/off-ramping, purchase NFTs with Visa and manage assets frictionless like shopping online. xBank is an active consumer web3 platform leading invested by IOSG Ventures with amazing partners like Hashkey, Fenbushi, Infinity Ventures Crypto, Headline and more, helping us to be the most adopted Web3 platform by Web2 users.

Official Website: http://xbank.plus/

Twitter: https://twitter.com/xBank_Official

Discord: https://discord.gg/xzbTv4E6rM

Sign UP to get 5USDT and 500BUSD: https://bit.ly/3cUjqpD

IOS: http://apple.co/3WRnRmD

Android: http://bit.ly/3GHgMzC