YoursFi on Aptos

Super Easy Value Add to NFTs

Overview

YoursFi is a DeFi protocol that easily captures Aptos DeFi position and verifies it through NFTs. NFTs can be liquidated using the $YRS token. $YRS token stakers can share the protocol's earnings. It is closest to LSDFi because of its role in enhancing DeFi usability and increasing liquidity in DeFi positions.

Userflow

Deposit APT -> Mint Financial NFTs -> Sell on the product (20% goes to the protocol) -> Receive $YRS -> Convert to APT in the swap pool and repeat, increasing by 0.8x each time.

Usecase

1. Issuing Financial NFTs

  • Issuing NFTs representing APT staking positions

  • Issuing NFTs representing LP positions in other Aptos DeFis

2. Utilization of Financial NFTs

  • NFT holders receive rewards. However, to prevent direct cash flow, continuous provision of web2 rewards ‘Credits’ will be provided, which can be swapped later.

  • NFT transactions can be used for position hedging or traded like mid-risk, mid-return bonds.

  • Combined with existing Aptos NFTs, these NFTs can provide financial intrinsic value to existing NFTs.

  • Private funds that allow deposits only from holders of specific Aptos series NFTs can be implemented.

  • Authorization for specific community treasuries and access can be represented by NFTs and traded (similar to functionalities like friend.tech).

3. Methods for managing potential risks

  • To prevent vortex attacks and death spirals, $YRS is backed by asset pools (some go to protocol earnings), and the protocol regularly buys and burns $YRS. Additionally, burning $YRS can reduce the NFT lock-up period.

  • It's crucial not to deplete the APT pool or the $YRS pool. As mentioned above, burning $YRS can reduce the NFT lock-up period, and burning APT can increase the ratio of $YRS obtained from NFTs. Through this exchange relationship and swap pool, continuous exchange of intrinsic value between APT and $YRS is achieved, maintaining balance.

Milestone

23 Q4

  • Develop DeFi features (starting with staking and Thala integration)

  • Integrate with Yours protocol

  • Issue Financial NFTs

24 Q1

  • Launching beta service

  • Conduct attack simulations

  • Partnership with at least one Aptos project

24 Q2

  • Launching service

  • Onboarding of over 200 users

  • Implementation of credit use cases

  • Partnerships with two or more web2 and web3 communities

24 Q3

  • Token sales

  • Onboarding of over 1,000 users

  • Strengthening incentives for protocol contributors

  • Connect additional services within the Aptos ecosystem

More about the tokenomics

PreviousExternal Wallet ConnectNextContract Architecture (EVM)

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