Proposal: Add NMKR to AADA v1 as an asset for borrowing (Approved)

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Proposal Description

We would like to add the NMKR utility token in Aada V1 as an asset for NMKR token holders to borrow or lend.

Short Summary

NMKR is a utility token for community-run governance using a voting mechanism. NMKR token aims to solve issues around NFT-related project verification for fraud prevention, adjust reward parameters, and develop the entire NMKR Ecosystem. For any project to be verified, it must meet a minimum vote count from the community and surpass the approval threshold. The members who participate in voting get rewarded with NMKR tokens. A trust score is assigned for each holder. Once NMKR tokens are staked, the user’s trust score increases in line with the amount. (Written on 10/August/2022)

Motivation

  1. Project and token overview

We want to get involved with the AADA to enhance the user experience for any holder of NMKR tokens. In particular, AADA’s smart contracts can empower a holder of NMKR tokens to borrow assets for performing financial actions or lending NMKR tokens to earn interest and reclaim deposit funds anytime using the NFT-bond feature. This experience is not possible without the use of AADA’s smart contract. Therefore, we would like to integrate NMKR tokens into the AADA platform to push the NMKR token liquidity by scaling lending and borrowing by users in series.

Project: NMKR is a leading infrastructure provider for blockchain products such as NFTs. By making decentralization usable, the NMKR ecosystem enables companies, artists, developers, and self-starters in the crypto space to effortlessly develop products, make integrations, and open additional revenue streams for art and brands. NMKR provides a sustainable and secure ecosystem for blockchain-focused solutions. With a strong focus on accessibility and infrastructure, NMKR delivers a range of tools that offer easy-to-use development APIs and no-code building blocks, which can be modularized and integrated with blockchain. The four specialized tools and services in the NMKR ecosystem are NMKR Studio, NMKR Games, NMKR Agency, and NMKR Store, which provide an interconnected system that sets new standards for development and NFT management. The underlying API technology of NMKR Studio has currently minted over 1.1 million NFTs on Cardano.

Token: NMKR was launched with LCX exchange during ICO in a legally compliant manner, and it was the first ever Cardano native token to be listed on a centralized exchange. A total of 1.5 billion were sold in ICO and presale. Over time a maximum of 10 billion tokens will be made available. NMKR token can also be traded on the following DEX’s: minswap.org, sundaeswap.finance, muesliswap.com, and wingriders.com. In the future, NMKR token will also be made available on Bitrue to cover the Asian markets.

Coingecko price tracking: NMKR Price: $NMKR Live Price Chart & News | CoinGecko

Coinmarketcap price tracking: NMKR price today, NMKR to USD live, marketcap and chart | CoinMarketCap

  1. Explain the positioning of the token in the Cardano ecosystem. How will it benefit the protocol?

NMKR as a miniting service provider has grown the number of users by enabling over 25% of all mints on the Cardano blockchain, and NMKR as a utility token benefits the protocol by increasing user engagement. The more people use and stake NMKR tokens, the more valuable the token becomes and benefits the holder with an increase in their trust score, which is useful for the community to know when they vote. NMKR Pool is a reliable Cardano node that helps maintain network stability and benefits the protocol.

  1. What’s the asset’s utility?

We want to make the experience for anyone engaging with NFTs the best possible by providing easy-to-use and trustworthy Web3 infrastructure with various toolsets for real-world use cases. NMKR Studio’s API is the backbone of the entire ecosystem which is open-source for anyone looking to utilize blockchain tech into their existing products or create new products from scratch using no-code building blocks. The Cardano native NMKR connects the entire ecosystem of our products by enabling decentralized utility in governing all of the products within the ecosystem. NMKR Studio powers other NMKR products and has been the force behind NFT, minting over 1.1 million NFTs on Cardano and generating over US $50 million GMV for NFT projects.

  1. Token data (Emission schedule, Market data)

Please see the tokenomics of NMKR token on page 69 of the whitepaper at NMKR Whitepaper - Download the NMKR Whitepaper

Conclusion

To conclude, we want to increase the number of use cases for $NMKR by integrating it into the AADA platform. This will help increase the token’s utility and make it more attractive to users and investors. In turn, this will help increase the token’s value and benefit those who hold it.

References

Twitter: https://twitter.com/nmkr_io

Discord: NMKR

Newsletter: https://nmkr.us14.list-manage.com/subscribe?u=8a7c643e7e1763bb98e612a9a&id=06779a25a1

Youtube: https://www.youtube.com/c/NMKR_IO

Telegram: https://www.youtube.com/c/NMKR_IO

9 Likes
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Let’s add NMKR token to Aada Finance platform :+1:

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Agree 100% we should add NMKR

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I am onboard with the proposal.

3 Likes