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What is Wasabi?
Wasabi is the first decentralized options protocol to issue and trade option positions on non-fungible tokens.
There are multiple issues with current NFT Markets:
- Inability To Hedge: Traders can only purchase NFTs at a low price and hope to sell them at a higher price. There is currently no way for holders of NFTs to hedge their positions or profit from market downturns.
- Inability to Generate Real Yield: Holders of ERC-721 assets are unable to safely earn sustainable passive income.
- Inability to Speculate Affordably: Since digital collectibles are non-fungible cultural objects, they can only be traded in discrete increments. Most traders cannot participate in high-value NFT markets because they cannot afford the minimum price required to purchase a discrete increment, e.g., 1 full CryptoPunk.
Wasabi addresses all three problems by allowing LPs to earn yield on their NFTs and traders to long and short collections affordably.
Last modified 6mo ago