Resonate Announces Partnership with Spice Finance

Revest Finance
3 min readFeb 9, 2023

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Overview

Spice is building the financial infrastructure for a permissionless and decentralized metaverse where NFTs represent the vast majority of value. Spice will do this by bringing scaled liquidity solutions to NFT lending marketplaces and merging DeFi infrastructure with NFT functionality. Spice operates a series of vaults that are user-determined, automated lending strategies for all NFT lending marketplaces.

The NFT lending space has been experiencing significant MoM growth. To this point, most of the NFTs utilized through these services are valued purely based on speculative value. We provide something different.

Resonate exchanges interest risk on a yield bearing position. Where a yield source is optimized to suit the risk profile of each side. One user’s upfront-fixed rate enables the other’s ability to take advantage of boosted yield rates; with fully customizable lockup terms. These positions involve separating the Principal and Interest component of each position to be stored within Financial NFTs and exchanging them between parties accordingly.

These FNFTs allow users to sell their locked positions on existing NFT marketplaces, as well as being fully functioning web-apps that enable users to directly interact with their position (claiming interest, withdrawing etc) without leaving their native wallet.

Next Steps

One key missing piece of infrastructure, however, was the inability to use these FNFTs within the NFT lending market. An FNFTs value is simply derived from the underlying asset locked within. By using Resonate in conjunction with NFT lending providers such as Spice. Users could garner more liquid capital by borrowing against their Principal secured FNFTs in order to secure more yield; opening the doors to even more creative financial strategies.

There is a massive opportunity here for driving adoption of the Revest ecosystem and the wider NFT lending industry.

What’s to come?

Spice Finance integration ⏳

Implement strategies and more vault integrations ⏳

Learn more about Spice Finance

Website | Twitter | Discord | Medium

About Resonate

Resonate is a decentralized marketplace where users can rent out their variable rate assets to receive fixed rates. Through tokenizing positions with Revest’s Financial NFTs (FNFTs), Resonate is able to offer fully customizable and liquid lockups with zero-slippage. Resonate serves to stabilize interest rates on any yield-bearing protocol across DeFi.

Resonate facilitates the commerce of the rights to future interest by matching issuers (who want to sell their interest rights for a one-time upfront payment), and purchasers (who want to buy the rights to future interest for a one-time upfront payment).

Website | Twitter | Telegram | Discord | Docs

About Revest Finance

The Revest Protocol offers a revolutionary new use of NFTs as financial tools through the Financial Non-Fungible Token (FNFT). Individual and enterprise-level users can deposit any ERC-20 or ERC-721 into Revest’s interactive FNFTs and set custom unlocking conditions (time, value, or contract-based). FNFTs can be sold on any NFT marketplace at any point while the underlying collateral remains locked.

Revest allows the tokenization of all non-fungible financial positions with non-fungible tokens. This simple turn-key solution offers elegant applications ranging from token vesting to cutting-edge implications for derivative and borrowing/lending platforms. Revest’s flagship product, Resonate, is underpinned, fundamentally, by this innovative technology.

Website | Twitter | Telegram | Discord | Docs

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Revest Finance

The world's first platform to offer instant liquidity for locked assets.