HOURAI Teams With iZumi Finance to Create DeFi-Centric NFTs

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Pro­gram­ma­ble liq­uid­i­ty min­ing plat­form, Uniswap V3, iZU­Mi Finance has part­nered with HOURAI NFT project for an upcom­ing NFT project. Under the arrange­ment, HOURAI  NFT hold­ers will derive extra val­ue backed by iZumi’s  DeFi deriv­a­tives. On the oth­er hand, iZU­Mi will get long-term access to incen­tivized access to DAOs. Essen­tial­ly, the mod­el will uti­lize veNFT’s, where­by HOURAI NFT hold­ers will gain access to the iZU­Mi DAO as an addi­tion­al benefit.

Exist­ing DeFi gov­er­nance is plu­to­crat­ic o a great extent­na­ture. This has result­ed in a sit­u­a­tion where wealth and pow­er are inter­twined. Con­se­quent­ly, iZU­Mi DAO veN­FTs are designed to offer an inno­v­a­tive solu­tion to this prob­lem. Vot­ing in the veN­FTs is qua­drat­ic since they lock the NFT tokens and enable hold­ers to exer­cise gov­er­nance rights. For instance, with this mod­el, a hold­er of 2 veN­FTs with 50 tokens each has greater vot­ing rights than one with 1 veN­FT with 100 tokens.

HOURAI is a break from the typ­i­cal ani­me NFTs that are now pos­si­bly becom­ing less appeal­ing because of an over­sup­ply in the mar­ket. Ani­me artists from Stu­dio Ghi­b­li and the Musashino Art Uni­ver­si­ty cre­at­ed HOURAI’s ani­me char­ac­ters, inspired by dif­fer­ent Asian cul­tures. There­fore, this has giv­en them unique mys­tery and artis­tic appeal that makes them dif­fer­ent from typ­i­cal ani­me NFTs.

Jim­my Yin, co-founder of iZU­Mi, said “By col­lab­o­rat­ing with HOURAI, we’re final­ly con­nect­ing NFTs to DeFi deriv­a­tives, which can cre­ate a num­ber of very inter­est­ing use cas­es.” On the oth­er hand, Leo Lee, co-founder of HOURAI, described the part­ner­ship as a win-win for both iZu­mi and HOURAI.

About veNFT

veN­FTs are a unique con­cept of inter­est-bear­ing and DAO gov­er­nance NFTs. Each veN­FT has locked a cer­tain num­ber of ERC20 tokens for a cer­tain time. The mod­el allows hold­ers to stake for rewards and vote for gov­er­nance. To obtain the veN­FT vot­ing pow­er, we mul­ti­ply the locked time left by the locked num­ber of veN­FTs. Hold­ers can vote on plat­form gov­er­nance, stake or boost their earn­ings on the iZU­Mi DAO.

About HOURAI

HOURAI is an NFT project whose earn­ings mod­el is built on DeFi deriv­a­tives. Stu­dio Ghi­b­li and Musashino Art Uni­ver­si­ty col­lab­o­rat­ed to cre­ate HOURAI NFT. Asian cul­ture serves as the inspi­ra­tion for the design of each of their char­ac­ters. Also, HOURAI estab­lished the Floor Pro­tec­tor Alliance to bet­ter inte­grate DeFi and NFT and assist addi­tion­al projects in achiev­ing base val­ue sup­port. Mul­ti­ple high-qual­i­ty NFT projects like XRab­bit­Club and LiveArtX have joined the Alliance.

About iZumi Finance

iZU­MI Finance is a liq­uid­i­ty pro­to­col that uses pro­grammed lan­guage to pro­vide liq­uid­i­ty on Uniswap V3. It dis­trib­utes liq­uid­i­ty across dif­fer­ent price ranges in a non-homo­ge­neous man­ner. This approach enhances effi­cien­cy in the dis­tri­b­u­tion of rewards earn­ings to liq­uid­i­ty providers. In addi­tion, iZU­Mi plans to onboard mul­ti-chains in its liq­uid­i­ty ser­vice pro­vi­sion with built-in DEX and bridge in the future. veiZI is iZU­MI finance’s gov­er­nance token. Also, the stak­ing of veiZi will start on March 21st, fol­low­ing the launch of its beta version.

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