[Grant Proposal] OpenSky Finance x Rarible Protocol

TLDR

OpenSky is a decentralized liquidity pawnshop where NFT HODLers can easily borrow using their NFTs as collateral. We are essentially trying to financialize the NFT market to unlock the massive value waiting to be put to work. We are a peer-to-pool solution, where you can take out loans on-demand.

Problem / Solution

Rarible Users need a lending facility to help them unlock the value tied up in their valuable NFT collections.

OpenSky has developed a decentralized liquidity lending protocol that uses the ‘Wisdom of the Crowd’ to provide a market value for any NFT which can subsequently be borrowed on-demand by the NFT owner.

In addition, OpenSky wishes to integrate with Rarible Protocol’s Indexer and ‘Timed Auction’ product (currently under development). This will bring new NFT users to Rarible and help the Rarible ecosystem achieve long-term sustainable growth.

Funding Milestones and Payments

Milestone 1: Swapping NFT indexer from Opensea.io to Rarible NFT Indexer

Milestone 2: Swapping NFT ‘Timed Auction’ from Fractional.art to Rarible ‘Timed Auction’

Total payment: $25,000 USD equivalent in RARI ($10K upon completion of Milestone 1, $15K upon completion of Milestone 2.)

Timeline: 2 weeks for completion of Milestone 1, 2 weeks after the Rarible ‘Timed Auction’ feature goes live for Milestone 2.

Payments will be made to the following Ethereum address:

0x3f027f6061a45837351da0eC68a1108B429A454B

We consider ourselves independent contractors of the Rarible DAO and will report taxes accordingly. Forms W8-BEN and W9 will be filled out accordingly before funds get distributed.

Team Members

Euris - founder and product manager, founder@opensky.finance

Robbie - tokenomics and strategy, robbie@opensky.finance

Espresso - UX designer at OpenSky Finance, espresso@opensky.finance

Horst - developer at OpenSky Finance, horst@opensky.finance

John - developer at OpenSky Finance, john@opensky.finance

Accountability

I will attend weekly community calls, and provide updates on milestones as I make progress. I also plan to coordinate with the Rarible development team in regards to the architecture. In the event that we can’t fulfill our commitment, funds will be returned to RaribleDAO.

Why should RaribleDAO fund this?

Key Benefits:

Integrate Rarible Protocol Indexers with OpenSky will benefit OpenSky and Rarible:
Rarible users can borrow crypto using their NFT as collateral to put their NFTs to work.

We will Integrate Rarible ‘Timed Auction’ as our liquidation mechanism and this is good for Rarible’s business development. This should become a lucrative customer acquisition channel for Rarible.

When we launch our governance token, we will airdrop to RaribleDAO users.

1 Like

Interesting, I can definitely see the need for such a development.

Thanks for your reply, we are definitely working hard to provide a major enhancement to the NFT x DeFi space!