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- NFY Finance and OlympusDAO top Swope’s list of the most promising NFT gems.
- The “flooding” supply mechanism in the OlympusDAO protocol maximizes profits by changing the price of the stablecoin OHM.
For investors who want to take advantage of the latest trend in the crypto space, YouTuber Tyler Swope, also known as Chico Crypto, has presented his top NFT gems that could yield big returns.
At the top of his list is NFY Finance, a project created to deliver NFTs with yield. This class of tokens have “locked-in liquidity” that generates income, meaning profits can be transferred between users. The project was launched in January this year. Since then, NFY Finance has lined up some potential partnerships. As revealed by an alleged NFY Finance team member, there is a possible partnership with Rari Capital via OlympusDAO, Chico Crypto said:
NYF could have tentative execution with Rari Capital, ranked much higher than them.
Another project that made Chico Crypto’s list is OlympusDAO, created as an algorithmic currency protocol based on the stablecoin OHM. Unlike other similar assets, OHM can increase its price based on market demand. Initially, the protocol will be collateralized by DAI. However, Swope claimed that OlympusDAO will maximize investors’ profits with its “flood” supply mechanism:
This means that it has mechanisms to promote stability and predictablility without directly pegging to any asset. However, we take it one step further with the introduction of adjustable policy; the DAO can move certain variables up and down to target growth and profitability or stability and predictability.
The long-awaited cooperation between Rari Capital and OlympusDAO materialized yesterday, with the launch of the NFT-based isolated loan pools, specifically Unisocks. Yearn Finance creator Andre Cronje and Uniswap creator Hayden Adams praised the launch. Cronje stated about the cooperation:
Great seeing more projects support & integrate Keep3r.Network as their data backstop. Will be playing more with new defi legos like Fuse and Kashi, lending should become safer and cheaper.
Memes and dreams by the @OlympusDAO family
Congratulations on the launch!
We have lots planned together. https://t.co/V9AILdoJNl
— Rari Capital (@RariCapital) March 23, 2021
MUSE and RATS
The third project on Chico Crypto’s list is the NFT20 platform and its MUSE token. The currently expanding project has recently seen an increase in its trading volume while the YouTuber claimed that it is possible that the new “Swapper” feature will allow NFT20 to reach a trading volume similar to Uniswap.
The last project is Ethereum Rapid Art or RATS, a platform that allows digital artists to trade RATS tokens backed by NFTs. The platform has an art collection and aims to create a decentralized art trading marketplace while RATS users become “curators” and can use its services for free.