X10 Project Intro
X10 Project aims to complete a new form of crypto financing, combining NFT and Defi.
NFT + DeFi = NFi
X10 Project is designed to incarnate Multi-sig safe deposit box with application of non-fungibility of NFT, on smart contracts.
The project has an intention of solving problems of existing lending protocol, which is also employed as lending assets rather than simply using collateral asset as collateral itself, and publishing NFTs for deposited assets based on the problem-solving and conjugating them as assets for various Defi projects.
Problems of the Existing Lending Protocol.
▶ The assets are unable to be withdrawn in case the corresponding deposit asset does not exist at treasury, even if the loaned assets of the project have been redeemed.
▶ The existing lending protocol is vulnerable to Flash-loan attacks using assets with high volatility among various collateral.
▶ Risks of the operating entity are imputed to the participants, as only the operation is in the form of CeFi but the asset composition is DeFi.
X10.FARM is a showcase project to provide liquidity and secure major participants for the X10 main project.