💰Liquidity Vaults

There is a lot of value locked up in illiquid NFTs. Liquidity Vaults are here to unlock this value

Users are able to borrow WSGB by using their NFTs as collateral for a defined period.

Any project on Songbird Network is able to apply for a liquidity vault and set their own parameters.

Users can repay the loan at any time and receive the NFT back immediately. Loans not paid back on time will be considered as defaulted and can be liquidated, with the NFT going to auction. This is managed by the project that owns the vault.

Available Liquidity Vaults

• Canary Reborn NFTs

  • 500 WSGB per NFT

  • 0.4% interest per week (this will be used to buy and burn $CRB)

  • 1 week loan with a maximum of 3 extensions (4 weeks total)

  • NFTs will be moved to escrow for the duration of the loan meaning they can’t be used for voting or boosting

• more coming soon...

There are no restrictions on what you can do with the loaned WSGB. You may want to enter a high yield farm for example and make a % higher than the loan interest, for example. Or you may need liquidity to catch a new mint, and pay it back later.

In due course we will launch on Flare and onboard more projects, any project with NFTs on Songbird or Flare can approach us and create a vault they remain in control of, offering liquidity back to their community!