Relite Finance, a decentralized cross-chain lending protocol, has shared an open call for NFT artists to assist in designing NFTs, which are set to unlock additional utility on the Relite platform. The team behind the project is calling on NFT Artists and graphic designers to collaborate on the unique NFT design for the upcoming NFT release.
As stated on their website, the public part of the competition will last from 10th to 16th August 2021. Artists looking to apply are invited to submit their applications through a form. In the second phase, the selected artists will submit their entries, while the winner will get a 5,000 USDT prize alongside contributing to the design of the upcoming NFTs..
The selected NFTs created in this contest will have lifelong functionality within the Relite protocol, adding yield multiplier bonuses for their owners. As the NFT distribution details are yet to be announced, it’s stated that there will be 3 types of NFTs serving as a key that unlocks yield multipliers: Gold, Silver, and Regular. Based on the type, the “NFT-key” will grant its holder “superpowers” on the Relite platform, including increased staking APY, better borrowing rates, and some yet undisclosed utilities.
George Groshkov, CEO and Founder of Relite, has warmly welcomed the participants and highlighted the significant role that the NFTs will play within the up and coming Relite ecoystem:
“The Relite NFT contest is mind-blowing, as we are mixing banking instruments with art and wrapping them both into DeFi. Months ago, Relite announced its ambitious plans to build cutting-edge lending infrastructure, using NFTs as loan collateral among the product features. Today we are about to make another significant step on that journey by releasing an NFT series with vast functionality! We’re thrilled to invite the artists to join the competition and unveil the potential utility of NFTs”.
About Relite Finance
Relite Finance is a cross-chain DeFi money market protocol that enables users to lend, borrow, and stake all crypto assets in one interface by utilizing Polkadot’s Moonbeam Parachain, bridges, and a unique reserve fund module. Relite plans on creating interoperability with Bitcoin, Ethereum, BSC, and other blockchains. In addition, Relite plans to implement collateralization of NFTs with better fees and usability than other protocols can offer. Follow Relite on Twitter and Telegram.
