been digging into TermMax’s GT design and one thing stood out to me.
A GT or Gearing Token is an NFT that represents a leveraged position with the related collateral and debt information recorded on chain.
What makes it interesting is that the NFT actually has a job here.
Instead of manually looping through collateral and borrowing multiple times to reach a target leverage the whitepaper says users can mint a GT in a single transaction with significantly lower gas costs.
So in this case the NFT isn’t just representing ownership.
It’s packaging the leveraged position itself into an on chain structure.
That’s a pretty interesting use of NFTs in DeFi.
@TermMax #TermMax
#termmax @TermMax
A GT or Gearing Token is an NFT that represents a leveraged position with the related collateral and debt information recorded on chain.
What makes it interesting is that the NFT actually has a job here.
Instead of manually looping through collateral and borrowing multiple times to reach a target leverage the whitepaper says users can mint a GT in a single transaction with significantly lower gas costs.
So in this case the NFT isn’t just representing ownership.
It’s packaging the leveraged position itself into an on chain structure.
That’s a pretty interesting use of NFTs in DeFi.
@TermMax #TermMax
#termmax @TermMax