We know that you have been waiting for a long time, and we have gone through challenging processes. During this time, Sui and Aptos have successfully transitioned to the mainnet.
While construction processes are still ongoing, we came across the Sui x KuCoin Labs Summer Hackathon and noticed that the application deadline coincides with the end of our construction period. We are thrilled to take advantage of this opportunity and introduce Snotra to you.
So, to put it in terms you would understand, “we never left, but we’re so back!”
What is Snotra?
Snotra Protocol is a revolutionary platform that aims to merge the NFTs, Gaming Assets and world of DeFi. Snotra is the liquidity layer of Move NFTs & Gaming Assets. With Snotra, users can enjoy the benefits of staking their Dynamic NFTs and earn rewards, while also Dynamic NFT holders can get low-interest loans by showing their NFTs as collateral. All assets Unique IDs can be used for on-chain valuation reference.
When users stake their NFTs on Snotra’s staking platform, they will gain several advantages.
Many users simply buy NFTs and wait for the floor price to increase, but we believe that this approach is not sustainable for both the user and the project. When users stake their NFTs on Snotra, they can earn SUI or APT tokens and receive specific rewards from the project or Snotra.
Additionally, this allows them to have a social identity within the platform.
Stake NFTs and contribute to the future of the project. Isn’t it cool? Everyone would love to see this.
NFT Lending & Borrowing ( P2P )
Snotra offers a new kind of P2P lending solution. The Snotra protocol allows users to make use of any digital asset as collateral for a loan. This way, you can unlock all of the value stored in your collection and use it as you please.
Snotra divides these into two categories. When you want to lend, you lock your SUI or APT tokens in pools for 3–7 days by making offers, and if your offer is accepted by a borrower, the process begins, and eventually, you can achieve high earnings. If the borrower fails to repay, the NFT remains with you.
This time, you have an NFT and want to lend it. In this process, you give your NFT to the lender offering the best offer in the Lending pool, and in return, you receive coins.
NFT Marketplace Aggregator & Mortgage
Have you ever heard of perpetual in digital assets?
Snotra enables 10x higher yield opportunities than current DeFi protocols and unlocks greater liquidity for NFTs.
With the growth of the NFT space, collection prices have reached incredible levels, making it difficult for many users to afford certain collections from the secondary marketplace. This has hindered the growth of communities.
Therefore, Snotra will introduce the mortgage feature on Move to allow everyone to access projects with high floor prices.
Snotra aims to dominate the Move ecosystem and provide significant support to other projects with its powerful SDK. Our vision is to initiate a migration from Web2 to Web3 in the NFT space, and we can say that Lending & Borrowing and Mortgage play a crucial role in this regard.
Stay tuned and remember: the future is Move!