Fungify {🍄}
@FungifyNFT
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Following
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Fungify Pools lets you borrow and lend against any asset. Index coming soon. Discord:
https://app.fungify.it
Joined September 2021
Don't wanna be here?
Send us removal request.
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Pinned Tweet
Fungify Pools market size has exploded 7x in size over the last few weeks, hitting a high of $7.4M!
@SappySealsNFT
& Honeycombs have lead the surge while cashing in on cap points. To celebrate, we're bringing back the
@0xhoneyjar
multiplier and announcing new markets this week.
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🚀 Ahead of the Fungify Launch, join our Paper Trading Competition which starts on 10/02/2023.
Win over $100,000 in prizes, including a MAYC, Pudgy Penguin, Miladies & more.
Existing community members get priority for the limited spots.
Register now 👇
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{🍄}The Great Fill Phase 1: Own the Network
On January 4th, Pools launches on mainnet, offering tokens for sale for protocol-owned liquidity.
🔗Learn how to participate:👇
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1/ Creating a new DeFi primitive doesn’t happen all at once. It’s an accumulation of questions and insights that build upon each other. In the case of Fungify: how do we make NFTs as liquid as altcoins? We’ve documented the journey in our magnum opus 𝕋𝕙𝕖 𝕋𝕣𝕚𝕡. 🧵👇
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1/ We were working on an entire protocol in secret🤫
Now you have a chance to try it.
Introducing Fungify Pools, a cross-margin lending protocol for NFTs. Imagine if Compound or AAVE let you short NFTs or supply them to earn interest in USDC🤯
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1/ We’re announcing the details of our ve404 NFT mint. This is the first of its kind that will be done in collaboration with an existing NFT project, representing a union of protocol and culture.
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Mistakes happen.
Nobody deserves to lose their forevers.
We rescued your mushy from the pool. Open a ticket on our Discord and we’ll execute a swap.
This week we’re releasing collateral-only markets, which let you keep your specific NFT.
After failing to dyor I have lost my forever seal
I am now an arrowhead 💀
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2022 was a year of buidling 💪. Our fingers are sore but the accomplishment is worth it.
{🍄} We are excited to announce our $6 million raise to introduce the first algorithmic lending protocol for NFTs, giving the NFT ecosystem the utility it deserves.
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1/ We are excited to exit stealth mode and introduce ourselves. We are Fungify, the first algorithmic lending protocol for NFTs.
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1/ Spores get ready {🍄}. Fungify is coming.
We released documentation detailing Fungify's mechanism and economic design. Link below 👇
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Honey Combs have just been added to Pools. Borrow against your
@0xhoneyjar
while earning interest on them at the same time. 🤯
🔥Honey Combs get a 2x bonus on our new farming program for being an official collaboration. You can read more on our P2T announcement thread 👇
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It's simple {🍄}
Points ➡️Token
Caps➡️$FUNG
Borrow or Lend to earn Cap points.
Joined by :
@SappySealsNFT
&
@0xhoneyjar
Harvest starts Tomorrow @ 5:00 PM UTC
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Our Season 1 Mint will be done in collaboration with
@AnataNFT
.
You can get FUNG for the mint by participating in The Great Fill (TGF) event on 5:00PM UTC on Feb 28th.
We chose Anata because of the deep affiliation between their community and founders with legacy DeFi.
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Sappy Seals have just been added to Pools. Borrow against your
@SappySealsNFT
while earning interest on them at the same time. 🤯
🔥Sappy Seals get a 2x bonus on our new farming program for being an official collaboration. You can read more on our P2T announcement thread 👇
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The first ve404 NFT Mint kicks off 🗓️Thursday @ 5:00PM UTC!
210,000 FUNG = 1 NFT
In homage to the 404 founders, the
@Pandora_ERC404
team earns an exclusive WL for the upcoming mint.
@AnataNFT
will also secure 5 WL spots for being our Season One collaborators 🙌
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/1 Fungify Pools is now on Mainnet {🍄}.
It’s the first pooled lending protocol to support NFTs as first class assets — not just as collateral, but for lending and yield as well.
Lets dive in. 👇
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Bippty Boppty Boo. The collateral factor has increased for all of you. 🍄🪄🦭(
@SappySealsNFT
)
.30 ➡️.45
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We up the ante tomorrow.
🐻🍄🐧
From a Bera perspective the Pudgy Ball Z Episode looks very different
As Bera's observe the
@pudgypenguins
Society they find many of their rituals and habits berry exotic and CURIOUS.
OOGA BOOGA
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Bit Bears (
@berachain
) have just been added to Pools. This is the first collection to leverage our collateral-only markets. Borrow against your beras while earning points!
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We’re extending the Weekly Bonus for
@SappySealsNFT
and Honey Combs (
@0xhoneyjar
) for an additional day 🎉
But tomorrow, we deploy collateral-only markets, and the bonuses may change 👀
HC collateral factors have moved from .3 ➡️ .45.
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2/ Borrow against your NFTs as collateral. Instantly access pooled liquidity, with loan-to-value ratios multiple times higher than anything ever proposed before.
#fungifyit
(mirror: )
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Sappy Seals are now available as a collateral-only market. This means you can borrow against your particular Sappy and be guaranteed to get that exact one back when you withdraw.
@SappySealsNFT
continue to get an additional 2x bonus for being an official collaboration.
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We’re excited to be the first pooled lending protocol to support ERC-404 assets!
To reward the community of this pioneering collection,
@Pandora_ERC404
holders can now earn a 2x multiplier on 🍄 points when borrowing against their Pandora assets.
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The Great Fill event has been a tremendous success, selling out in minutes and amassing another ~$3M for the protocol.
FUNG goes live for trading at 5:00 PM UTC tomorrow.
Remember, acquiring FUNG is essential for minting the Fungi Anatas Collection (
@AnataNFT
) on March 7th
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1/ We're pleased to introduce Sporalyzer, a contract size analysis tool that we have been developing internally. In this thread, we'll dive into how it works and its benefits. Link to the article below 👇 🧵
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Beras smashed through their Honeycomb (
@0xhoneyjar
) borrow cap, we just doubled it 🐻⬆️
Age of BeraFi is upon us.
Honeycomb enjoyoooors already maxed out the caps
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Announcement 📢
We have several MAJOR announcements coming this week. Get ready, it's going to be a busy one.
No, we're not doing anything with Justin Sun.
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Our fourth and final audit report, done by the estimable
@zachobront
, has just been published. This one is really worth reading. The amount of care and thought that went into it is extremely evident. We could not recommend him enough.
Mainnet is coming.
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When you lend, we work to make sure you still get your airdrops.
We’ve collaborated with
@0xDYAD
and
@0xhoneyjar
to secure the Kerosene airdrop for all HoneyComb lenders. 💪
Open a ticket in Discord to verify your eligibility.
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The new Fungify landing page has just dropped. Now you can master our protocol in less than two minutes -- and the art isn't bad either.
Join us, as we build the most glorious NFTFi Fungi kingdom {🍄}
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The Pandora team is full of builders.
We like builders.
We're excited to join the 404 ecosystem as we bring ve404 to life 🍄
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The Great Fill Phase II: Own The Network
On Feb 28th at 5PM UTC, the Protocol Owned Liquidity event for the NFT Index launches, offering tokens for sale.
🔗Learn how to participate 👇
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1/ Fungify announces collaboration with
@ethena_labs
to bring $USDe and $sUSDe as collateral assets in the Pools lending protocol. This will give Ethena users the ability to farm yields using leverage, increasing APRs up to 3-4x, while earning Fungify points.
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🍄 Discord open! 🍄
➠
There is no discord whitelist.
(mirror: )
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We’ve developed an approach to integrating ERC-404s into governance; it creates incentives to keep tokens under voluntary lock, and a race condition to do this as quickly as possible.
We are calling this approach ve404. Read the article at the end for a deep dive. 🧵👇
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The first Harvest period has passed, resulting in a distribution of 2,998,334 FUNG to protocol users.
Over the next 7 days, a new Harvest period will occur.
@SappySealsNFT
bonuses will be extended a week.
@berachain
collection incoming.
Official announcement soon. 👀
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We have reviewed the distribution of borrows and will be increasing the cap shortly.
You can still supply Honey Combs. They are currently earning 26.24% APR, paid in USDC
Age of BeraFi is upon us.
Honeycomb enjoyoooors already maxed out the caps
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OOGA BOOGA
The Mushrooms doubled the Honeycomb Cap. Beras blew through the cap within 3 hours.
"Oh, you think DeFi is your ally. But you merely adopted DeFi; The beras were born in it, molded by it. We didn't see the NFTs until we were already men, by then they were nothing to…
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{🍄} Version 2.0 of the Fungify Docs have been released. This represents a major advance in the simplicity and elegance of the protocol.
The character count has fallen by over 30% (!). They've never been easier to read.
Dig in 🧠
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🚨 The FUNG token has launched on Uniswap v3 🚨
Please check our Discord for the official links to the contract and pool. You can find the link in our bio.
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We’ve deployed on the Goerli testnet.
Join our Discord to get access. {🍄}.
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Fungify Pools is thrilled to announce support for the
@KanpaiPandas
NFT collection! 🐼💎🍄
Now, you can instantly access 60% of your Panda's value, allowing you to borrow up to ~$1900 in ETH or Stables 🙌
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TGF opens in less than thirty minutes. This is your chance to buy FUNG tokens if you want a chance at minting your own Fungify x Anata NFT. Hop into our Discord if you have any questions.
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This was a great musing by Solace on the
@nftperp
Discord. This is exactly what Fungify does -- fractionalization through an index -- like NFTX meets GMX.
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👉Register here:
👉Discord:
👉Details:
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The Great Fill has officially concluded. The sale ended within the span of a few seconds. Reviewing the transactions, it is our impression that this was not the result of bots but organic interest. Congratulations to all our new backers. Stay tuned for our mainnet launch.
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The queue is worth it ‼️🕐
Take your seat at the Fungify Testnet table. Join our Discord to find out how you can be in the next batch of approvals. {🍄}
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Fungify NFT Collection art revealed!
The first ve404 collection has been an incredible success, locking up 14.28M FUNG & burning 882K FUNG. This represents 20% of the circulating supply.
A big thanks to
@AnataNFT
&
@FroggyCyborg
for producing the art.
Season 2 is coming soon.
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Fungify’s Points-2-Token (P2T) Farming is now live. When you borrow and lend on Pools, you earn Caps {🍄}, which are converted to FUNG tokens every week. Full article at end of thread 👇
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This week saw an influx of over half a million Honey Combs (
@0xhoneyjar
) into Fungify Pools.
Beras up to something 🧐📝🍯
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Official Links🔗
Fungify Token ($FUNG) - Token is LIVE
🦄Uniswap:
🍄$FUNG Contract Address: 0x0e4e7F2AecF408AFF4f82f067677050239bdC58A
🚨 The FUNG token has launched on Uniswap v3 🚨
Please check our Discord for the official links to the contract and pool. You can find the link in our bio.
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They audit, we publish. The report from Hexens is now public on their site and our blog.
Fungify Pools launches on Jan 4th. Read the latest audits as they are released.
Audit 1: Hexens ✅
Audit 2: Least Authority
Audit 3: Zach Obront
Hexens is delighted to announce the finishing of
@FungifyNFT
's security review.
2 weeks of a comprehensive audit resulted from 2 critical vulnerabilities, 2 high findings, various code optimizations, and other issues.
Read the full report by the link:
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The Mint is TOMORROW @ 5PM UTC.
(1) Mint an NFT with 210,000 FUNG.
(2) Get it back at any time.
(3) But the NFT is permanently burned.
Two uncorrelated payoffs, one bet.
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🚨 SOLD OUT! 🚨
The Fungify Collection Mint has concluded. All 75 were minted out within seconds. Stay tuned if you were not able to mint - there will be a Season 2.
Guess who the next collaboration will be? 👇
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Thanks to our new users and The Great Fill, we are happy to announce that Fungify Pools has already eclipsed 1mm in TVL 🥳
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Read all of the details here:
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We were so impressed with the last Hexens audit that we doubled up and immediately commissioned a second one. That brings us to five weeks of auditing by Hexens alone.
We look forward to continuing to release our audit reports as they arrive, in anticipation of Jan 4th.
Hexens is delighted to announce broadening its security partnership with
@FungifyNFT
.
During the security review, our engineering teams identified 2 issues, critical and medium severities.
We can confidently say that overall code quality and security increased after the audit.…
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Details here:
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We're going live, join our discord AMA. Attendance will be noted 👀
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The Pools product is launching next week. Tomorrow at 5:00PM UTC we are kicking off the public portion of The Great Fill, where you can buy tokens, own part of the network, and bootstrap the protocol’s liquidity. Read more below 👇
1/ The days of holding NFTs that earn you 0 interest are over. Imagine if you could:
🌽 Earn interest on your NFTs
🎨 Borrow against your NFTs
📉 Short-sell NFTs
🏦 Leverage trade NFTs
☯️ Pair trade NFTs
@FungifyNFT
is making it all happen with their pools product 🧵
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We're releasing all the details, all the dates, and all the numbers you need to participate in The Great Fill. {🍄}
The Protocol Owned Liquidity generation event for the Fungify Pools mainnet launch is coming this Jan 4th.
Read the article below 👇
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The first official Fungify AMA is now available on YouTube. There were over 50 participants (!) asking their most penetrating questions. Humbled to have so many deep DeFi minds in one place.
🔊} Here's a snippet. Full link in the tweet below 👇
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We've had an ace up our sleeve -- a zero to one advance for DeFi + NFT. We want to show you.
Join us for the next community call, where we will unveil 𝙿𝚘𝚘𝚕𝚜.
Set your calendar:
🗓️Tuesday, August 15th @ 5:00PM UTC
🗺️Location: The Fungify Discord
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2/ We’ll be releasing a series of substack articles breaking down the system design for wider consumption. For now read the docs.
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Take notes, Beras. This man is getting paid to double down on the ecosystem 🍄💰🐻
just used sum HCs as collateral on
@FungifyNFT
borrowed USDC and bought more $PLUG
earning FUNG + 17% net APY payed in USDC while being long HCs and the first Berachain eco ERC-20
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{🍄} We’ve accepted the first batch of applicants. You can now dive into the app to see how it works. We’ve pre-loaded your address with assets and NFTs.
It’s not too late to sign up. Join our Discord to get access 🤝
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We’re announcing collateral-only markets. This means you can borrow against your NFT and be guaranteed to get it back once you withdraw. Details below 👇
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The trading competition has officially started. Participants can win over $100,000 in prizes, including NFTs like MAYC, Pudgy Penguins, and Miladys.
Late registrations remain open, but with very few spots remaining. Join us on Discord to get involved.
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2/ Please, please, please read this. I worked so hard on it. If you don’t, there’s the cliff notes in this tweet thread.
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The Least Authority audit has been published. This is third audit report we have published for Pools. It was a pleasure working with LA.
Stay tuned for the imminent launch of Fungify Pools.
Our team recently completed a
#securityaudit
of the
@FungifyNFT
Smart Contracts. You can read the full report, including our findings, here:
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The Fungify NFT collection becomes available to mint in one hour. You must have 210,000 FUNG in your wallet to mint. There are only 75 available this season.
Participate now at
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The following collections will be included in the mainnet launch of Fungify Pools:
Collateral:
@cryptopunksnfts
@BoredApeYC
MAYC
@pudgypenguins
@Azuki
Non-Collateral (Yield Pools):
@doodles
CloneX (
@RTFKT
)
@coolcats
@BEANZOfficial
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🚀Hop on our Discord community call as we delve into the upcoming Fungify Competiton and a few other extra tidbits🤫
Word has it, attendees get a leg up on reserving a spot.
Happening now, see you there👇
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We just launched such a protocol on Goerli today.
{🍄}
This is how you make money on NFTs. Someone make a platform to short sell.
#nft
#ShortSellers
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In this edition of Fungify Sleuths, we profile a recent user who shorted both
@pudgypenguins
and Lil Pudgys🔍
They took out a loan yesterday against ETH collateral, borrowed the Pudgys, and sold them on
@blur_io
Since then, the price of both have moved upwards, leading them to…
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6/ Tomorrow we will announce the project we’re working with for Season 1. This goes beyond a collaboration – it’s a true union that introduces deeper alignment than anything we’ve seen before. With our vision, the worlds of DeFis and NFTs will grow together, not in parallel.
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8/ Liquidations require oracles. For Fungify, the solution to pricing NFTs is to use the Chainlink NFT Floor Price oracle. This allows for indefinite loans with favorable loan terms.
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We’ve received over 1,000 signups for the testnet. In the last five waves we admitted 70 of those. Wave six is the biggest yet, as big as all prior waves combined.
The funnel is widening. Join the Discord for a chance at being in the next wave. 🌊
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The Fungify Collection x
@AnataNFT
NFT art reveal occurs on March 28th 👀
Each piece in this inaugural season is a unique, one-of-a-kind creation, with a total of 100 NFTs.
Teasers below 👇
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📢
@LilPudgys
been added as a collection to Pools. You can now borrow against them, or supply them to earn yield. Even better, you can do both at the same time: earn yield while borrowing against them. Earn 36% in USDC for Supplying! Borrow USDC for just 8% 🐧🤝 🍄
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5/ The art is being led by the Anatas art team in collaboration with
@FroggyCyborg
, who is known for his work on
@pudgypenguins
,
@KanpaiPandas
, and
@chubbiverse
.
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2/ The idea, inspired by
@pandora_ERC404
, involves minting an NFT by achieving a threshold balance of our ERC20 FUNG token. When you place this balance into the NFT minter contract, you get an NFT. This Season, only 75 NFTs are available for mint.
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2/ Fungify DAO is acquiring 75 Anatas and placing them in its treasury. This makes Fungify the largest governance entity in the Anata DAO, granting substantial influence in the use of the 5MM Anata treasury.
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This is a thoroughly researched thread on why you’re going to want to hold Fungify’s NFT index 👏
1/ When money rotates into NFTs again, I won't be stuck holding individual illiquid NFTs that earn me zero yield.
I'll be holding $NFT – an innovative ERC20 NFT index token developed by
@FungifyNFT
that passively earns me yield.
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3/ We asked: what if we put all the blue chip NFTs in a single vault and wrapped an ERC-20 token around it? This is already a killer app. But we wanted to make it even more killer 🔫. We wanted collectors to have the option to maintain their claim to the NFTs inside the vault.
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You think the Fungify testnet is a game?
Well, it’s about to be.
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Thanks Tytan for an insightful summary of what we're doing here with Fungify Pools. It's been just a day and we're already seeing users stream in, excited to share in our mission of bringing NFTs to parity with other assets in DeFi.
{🍄}
1/ NFTFi Liquidity Update: The landscape is evolving.
Enter
@FungifyNFT
, akin to Compound but for NFTs. Here, it's not just about borrowing against your NFTs; it's about earning yield on them.
Let's dive in 👇
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🎄 Merry Christmas and Happy Holidays
#FungiFam
{🍄}
2023 will be a huge year, so be on the lookout for our big announcements! 👀
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🚀 Kudos to Spores of Wall Street for dominating Season 1 of Fungify Trading with a $12M PnL! Over 30K transactions in a fierce month-long battle.
🏆 Top winners:
@cryptolinlin12
,
@x_capacity
,
@jpegswag01
- bagging prizes like MAYC, Pudgy Penguins, Miladies, and Lil Pudgies.
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We are thrilled to announce the successful onboarding of our inaugural group of Testnet Testooors, who are already providing us with valuable and enthusiastic feedback. Join us in Discord and discover just how effortless we've made it for users to access liquidity.
The…
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6/ We’ll be announcing a new type of farming program shortly, a hybrid between points and token mining, something we call P2T. This will happen before our token release on Feb 21st. Join our Discord to learn more if you haven’t already.
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The Great Fill: Phase 1 takes place in less than 30 minutes. Join our Discord to get the link and participate. Follow the instructions in the
#announcement
channel.
{🍄}
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🤝
The Polygon mainnet is a production-grade environment to test Fungify, with more predictable gas costs than Goerli.
Join us as we gear up for our official launch on the Ethereum mainnet. Read more👇
Fungify has been deployed on the Polygon PoS mainnet🥂
@FungifyNFT
allows users to get Blue Chip NFT exposure & borrow against NFTs like
@y00tsNFT
Join the Fungify discord to get started and learn about upcoming events.
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