Liquidium Starts Letting Users Borrow Bitcoin Liquidity Using Ordinals & Runes As Collateral

Liquidium, the digital asset lending platform created exclusively for Bitcoin-powered digital items, has started allowing non-fungible token collectors to borrow Bitcoin liquidity using their Runes and Ordinal collection as collateral. This bullish move will allow NFT traders to hold more Runes and Ordinals collections.

Liquidium Lets Users Borrow BTC Using Ordinals & Runes As Collateral

In a July 30 blog post, Liquidium confirmed letting its users borrow Bitcoin liquidity using their Ordinals and Runes non-fungible tokens as collateral. This advancement is expected to bring to life the Bitcoin-based NFT collections, which have suffered liquidity issues in the past several months. Data compiled by cryptoslam.io shows that Bitcoin NFT trading sales volume plunged to $74 million in July, down 54% from June 2024.

Launched in August 2022, Liquidium is a peer-to-peer (P2P) Bitcoin lending platform which allows users to leverage their Bitcoin-based assets, such as Ordinal Inscriptions (Ordinals) and Runes, as collateral for loans. It enables borrowing and lending Bitcoin through secure and decentralized mechanisms using Partially Signed Bitcoin Transactions (PSBTs) and Discreet Log Contracts (DLCs) on the Bitcoin Layer-1 network.

The Liquiduim lending platform Features a governance token on the Runes token standard on Bitcoin. This token aims to decentralize the Liquidium lending protocol and foster community involvement in its governance. The Liquidium token also serves multiple purposes within the Liquidium ecosystem.

Some of the utility of the Liquidium token includes governance, allowing token holders to participate in decision-making processes. Additionally, the Liquidium token will enable holders to unlock premium Features, provide platform fee discounts, and earn rewards through various incentive programs.

How Does Liquidium Operate?

Liquidium lending protocol operates exclusively on the Bitcoin blockchain, letting users lend and borrow native Bitcoin using native Ordinals and Runes as collateral. Liquidium eliminates the need for intermediaries or custodians. Users can secure Bitcoin loans against their Bitcoin assets without needing to sell them, therefore preserving full ownership.

Liquidium also provides Bitcoin liquidity to borrowers and earns yield on their holdings. Each loan involves a direct agreement between a lender and a borrower. In terms of long-term loans, the contract form includes the expiration date, which the lender and borrower agreed upon beforehand. If the borrower repays on time, the collateral is returned, and the lender receives the repaid Bitcoin plus yield. In case of default, the lender retains the collateral.

Related NFT News:

  • Crypto And NFT Gaming Platform Gala Games Launches Its GalaChain TestNet
  • Pudgy Penguins NFT Creator, Igloo Inc, Begins Developing Its L2 Network On Ethereum
  • No Of Investors Buying NFTs Have Surged 37% In The Past 7 Days – CryptoSlam

Comments

Post a Comment

Popular posts from this blog

Dogecoin Price Prediction: DOGE Dips 7% As Investors Flock Its Rival PEPU Offering Last Chance To Buy Before Upcoming Tier-1 Exchange Listings

Image
The Dogecoin price dropped 7% in the last 24 hours to trade at $0.3670 as of 01:31 a.m. EST on trading volume that plunged 30% to $15.6 billion. Dogecoin Price On A Sustained Bullish Trend The Dogecoin price has been in a significant uptrend recently, with a sharp rise in mid-to-late October and into November. The trend is clear from the steep ascent in price of Dogecoin above both the 50-day (yellow line) and 200-day (red line) Simple Moving Averages (SMAs). This signals strong bullish momentum in the short to medium term, according to data from GeckoTerminal . Moreover, the Relative Strength Index (RSI) is currently around the mid-range, close to 54, which suggests that there is no immediate overbought or oversold condition. This level of RSI indicates a cooling off period after what was likely an overbought condition during the rapid price increase. The RSI cooling off while price remains high could indicate consolidation before the next move. If the Dogecoin price sustains th...
Read more

Tim Draper sets bitcoin target of $250k, DigiToads and Cardano poised to 100x

While US major investor Tim Draper believes bitcoin will hit $250,000, other analysts think DigiToads and Cardano are poised to grow by 100x. DigiToads investors anticipate value increase DigiToads’ presale success has made it one of the most sought-after cryptocurrencies. Crypto enthusiasts believe this cryptocurrency could grow by 100x once it launches, increasing the value of investors’ portfolios. The crypto project recently unveiled a collection of trending NFTs that allow users to make money from DigiToads’ platform to attract investors further. You might also like: DigiToads offer staking, burning, NFTs, and gaming; better drivers than Monero’s anonymity The NFT collection was unveiled despite TOADS still being in presale. This will make it easier for DigiToads’ value to grow by 100x when it launches. The NFT collection can be bought on OpenSea or minted at any time. Investors acquiring these trending NFTs can participate in NFT staking comp...
Read more

3 cryptocurrencies cheaper than a burger for a 2500% ROI by 2024

Image
As the cryptocurrency market continues to evolve and expand, investors are constantly on the lookout for undervalued assets with the potential for significant returns. While marquee tokens like Bitcoin and Ethereum dominate headlines, a multitude of lesser-known cryptocurrencies lurk beneath the surface, waiting to be discovered by astute investors.  Among these hidden gems are Retik Finance, Jupiter, and Ripple—three cryptocurrencies that offer compelling investment prospects and the promise of substantial growth in the coming years. In this article, we delve into the unique attributes of these tokens and explore their potential to deliver a 2500% ROI by 2024. Retik Finance (RETIK): Revolutionising Decentralised Finance (DeFi) Retik Finance (RETIK) emerges as a prominent contender in the realm of decentralised finance (DeFi), offering a comprehensive suite of financial services and solutions powered by blockchain technology. Unlike traditional financial institutions, R...
Read more