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Slavi, a Binance Smart Chain based Cross-Chain DeFi Protocol, to Develop an NFT Marketplace

CryptocurrencySep 09, 2021 10:30AM ET
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Slavi, a Binance Smart Chain based Cross-Chain DeFi Protocol, to Develop an NFT Marketplace

Slavi, the Dubai-based cross-chain project offering "a decentralized finance luxury infrastructure" for clients, will develop an NFT marketplace as per an update on September 1.

Slavi to Launch an NFT Marketplace
The NFT marketplace, once developed and launched, will provide its users the opportunity to trade NFTs or view galleries of tokenized assets.

The team plans to release a differentiated DeFi solution meeting the needs of the growing user base. Towards that end, Slavi's development team has said it will gradually build and launch suitable solutions while tapping on the interoperability of the BSC.

The Shift to Cross-Chain
At the moment, the need to deploy applications from cross-chain, ideally EVM compatible base layers, is gaining momentum. Although Ethereum continues to dominate in terms of activity, the blockchain is inherently limited.

There are scaling concerns of which developers are trying to resolve. At the same time, the platform can't by default connect to other chains. This, in turn, creates a siloed ecosystem where intensive dApps, processing thousands of transactions daily, can't automatically branch out to alternative EVM-compatible chains. Instead, migrating projects have to create an entire ecosystem leveraging their branding name from Ethereum for marketing.

Anchoring on a Broad Base of Popular DeFi Blockchains
However, there is a shift. More projects are increasingly gravitating towards base layers with default cross-chain capabilities offering them flexibility should there be a need to branch out in months or years, responding to shifting dynamics.

Slavi DApp will eventually onboard and bridge with as many blockchains as possible. The founder, Slavi Kutchoukov—a real estate and fashion entrepreneur, said the project will eventually integrate over 30 blockchains, namely the Binance Smart Chain, Ethereum, Polygon, Polkadot, Mina, Solana, Near and others. Access will be via web wallets and not login requirements or intermediaries.

Diversifying Revenue Bases for DeFi Users
Through the Slavi DApp, the team said it would offer its users tools to make sound crypto investments and track their diverse portfolios. Towards eventually rolling out a DApp providing a single interface to all supported blockchains at once, allowing access to DeFi, NFTs, and all other blockchain-based offerings via their browser, Slavi project has raised $1.5 million from their pre-seed and private sale rounds.

As per their roadmap, Slavi project plans to support staking in Q4 2021 through to Q1 2022. This would be one of their different investment strategies besides farming and savings enabled by SLV token—the platform's internal currency. There are 1 billion SLV tokens, according to BSCScan.

Eventually, in the first half of 2022, Slavi will list at a DEX and launch four liquidity provider pools--SLV-BUSD, SLV-USDT, SLV-DAI, SLV-USDC. According to the team, SLV staking allows users to earn up to 200 percent APR in passive income. On unstaking, Slavi project has integrated a token burning mechanism where 0.075 percent of the total SLV tokens staked would be destroyed.

SLV tokens held in dPoS and LPoS systems would also be locked directly from the interface, eliminating users' need to move and lock their SLV manually. Contributing liquidity to the SLV/USDT liquidity pool attracts a high APR of up to 200 percent.

Work in Progress
The Slavi development team hopes their dApp—which will be available in iOS and Android for mobile users-- will appeal to a broader community due to their automation of processes.

Staking with high APR, support of NFTs, bank card purchase of digital assets, savings, and trading options for over 1k digital assets across various supported blockchain environments further increase revenue avenues for users while offering more functionality, all with minimal interactions.

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Slavi, a Binance Smart Chain based Cross-Chain DeFi Protocol, to Develop an NFT Marketplace

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