Salvor, a peer-to-peer (P2P) NFT and memecoin lending platform, has joined the Avalanche Rush Program and received up to $1 million in $AVAX from the Avalanche Foundation.
Salvor operates on the Avalanche C-Chain and offers a dynamic lending and borrowing facility marketplace where participants can use their NFTs and memecoins as collateral, increasing liquidity and financial flexibility within the Avalanche network.
The Avalanche Rush Program – a liquidity mining initiative active since 2021 – has significantly strengthened Avalanche’s DeFi ecosystem by improving accessibility, decentralization, and cost-efficiency.
Through this initiative, Salvor participants can earn points for tasks such as creating loan offers, borrowing and trading. These points can be redeemed for rewards in $AVAX or Salvor’s $ART token.
Source: X (Savior)Salvor’s specialized tactics in NFT lending
Since launching in November 2022, Salvor, with over 800 NFT collections including household names like Dokyo, MadSkullz and Chikn has shifted from an art-focused platform to one important NFT trading and lending center.
The platform simplifies lending by allowing users to secure $AVAX loans using their NFT assets as collateral, with lenders earning interest on short-term loans.
Additionally, Salvor streamlines trading with bulk promotions in one transaction to save time and reduce gas costs And contains a special pool balance for managing bids, offers and loans.
It also offers property-specific bidding for strategic control, lower interest rates for timely repayments to reduce financing costs, and the lending of fungible tokens for diversified investment opportunities.
Every feature of Salvor is designed to improve both efficiency and flexibility for traders dealing with large amounts of digital assets.
Participation in the Avalanche Rush program underlines its commitment to promoting NFT and memecoin trading and lending on the vibrant Avalanche network.
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