Introducing the Stater Byzantine Update
We are excited to introduce you our next platform update that we’ve been working at in the past months. From the start of our project, we’ve made our mission to deliver a seamless, transparent and frictionless NFT lending experience to our users with full product integrations on multiple chains.
With the exponential growth that the NFT market had in the past year, we believe that the market has become more mature with established use cases and more data around the traded value of the assets.
Our next update aims at further reducing the friction and the spread of the current version of our product and expanding the due diligence options for both borrowers and lenders.
Byzantine Update Features
Lender bidding system — Lenders will be able to place bids to loan packages at the level of: asset value, loan value & loan duration that can be later approved by the borrower. The borrower can accept the best bid and proceed with that specific loan.
Loan health system — As an intermediary step before automatic asset valuation through the Stater Fair Value Oracle, the loan health system will offer a macro overview of the loan package profitability based on different factors like floor price, asset trading history and price deviations. This feature will further help liquidity providers in their due diligence process.
Social voting system — Users will have the option to vote for the health of the loan packages that are listed on our platform.
Notification system — Platform notification system where both lenders and borrowers can see all their transaction history in a user friendly way.
Liquidity pools V0.1 — Preparation for the first step of the first version of our pooling system for specific NFT collections. More updates on this will follow.
When Will the Update be Released
The Stater Byzantine Update will be live on June 2022.
What’s Next for Stater
- With the next wave of product updates we aim to automate as much as possible from the lending process in order to create a frictionless experience for our users.
- More chain integration & more token integrations will follow for our NFT lending platform.
- We are working on some amazing partnerships with other projects. Stay tuned for that.
- We are also preparing more exchange listings for $STR.