• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Sunday, October 26, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

Avalanche invested $1 million in NFT lending platform

Jordan Avery by Jordan Avery
May 12, 2024
in News
Reading Time: 3 mins read
0
Avalanche DeFi boost NFT lending Salvor 1
Share on TwitterShare on Facebook

Avalanche’s commitment to decentralized finance (DeFi) has received a major boost with a $1 million grant to pioneering NFT platform Salvor. In addition, the Salvor’s innovative lending system allows NFTs to be used as collateral for AVAX loans, providing Avalanche C-Chain with increased liquidity and financial flexibility.

Avalanche will support NFT platform Salvor

As part of the Avalanche Rush program, Salvor incentivizes users to participate in various activities on its lending platform. Members can earn rewards in AVAX or ART token by creating credit offers, borrowing, listing, bidding and trading. In addition, progress and rankings are displayed on the Salvor leaderboard in real time.

By encouraging loans against NFTs, Salvor provides an alternative to selling valuable assets. Lenders benefit from interest income on short-term loans, and borrowers benefit from immediate liquidity for new investments. However, the platform supports over 800 NFT collections, including Dokyo, MadSkullz, Chikn and Steady. Thus, the integration strengthens the accessibility and attractiveness of the Avalanche ecosystem to a wider range of participants.

Avalanche invested $1 million in NFT lending platform salvor
X

Despite the recent downturn in the NFT market, Avalanche’s partnership with Salvor could breathe new life into the sector. “We started as an NFT marketplace to make trading easier for our users. By introducing P2P NFT lending, users can borrow against their NFTs without having to sell them. We are confident that this will play a key role in supporting healthy ecosystems. Our main focus is to make NFTs more liquid,” said Utku, founder of Salvor.

About AVAX

Avalanche is a platform designed to launch DeFi applications and deploy enterprise blockchain networks in a scalable, unified ecosystem. However, it supports all the same development tools that Ethereum supports. Moreover, transactions on the network are confirmed in one second.

avalanche-avax 1

Avalanche is clearly created as a competitor to Ethereum, or more precisely to the upcoming Ethereum 2.0. Immediately after listing on the exchange, the rate of its token soared by 650% (from $0.85 to $5.55). The Avalanche mainnet blockchain network has been launched. On the other hand, developers currently estimate the network throughput at 4,500 transactions per second.

In addition, Avalanche has virtual machines – this is special code that creates databases using consensus. The database can be any structure that needs to be synchronized across multiple computers, be it a DAG, blockchain, etc. The logic of each virtual machine can be deployed multiple times on separate subnets. Each instance of a virtual machine is a blockchain. Meanwhile, It has a ChainID and can only belong to one subnet. However, the blockchain can be deployed as many times as desired within a subnet.

Tags: avalancheDeFi boostNFT lendingNFT loansNFT marketRush incentivesSalvor partnership
Previous Post

Satoshi-Era Bitcoin Whales Revive, Turning $63K to $30 Million Each

Next Post

TokensFarm: Exploring the Power of Yield Farming in DEXs and LP Farms

Related Posts

Bitcoin Steadies Near $110K Despite CPI Uptick, Signaling Market Maturity
News

Bitcoin Steadies Near $110K Despite CPI Uptick, Signaling Market Maturity

October 24, 2025
Featured

Cardano Slips After NIGHT Token Event

October 22, 2025
Binance Beats SEC—Crypto Cheers the Legal Victory
Featured

BNB Price Rises After Robinhood Listing

October 22, 2025
Featured

Trump Envoy in Senate Crypto Probe

October 22, 2025
Solana ETF With Built-In Staking Is About to Go Live , Here’s What It Means
Featured

Solana Treasury at Core of Mercer Cube

October 22, 2025
Featured

Fed Proposal May Free Crypto From Banks

October 22, 2025

Press Releases

Bitcoin Miners Outperform BTC by 500% as AI Integration Redefines the Sector
News

Bitcoin Miners Outperform BTC by 500% as AI Integration Redefines the Sector

by Jordan Avery
October 19, 2025

Bitcoin miners have outpaced BTC’s performance in 2025, recording gains of up to 500% as artificial intelligence (AI) reshapes the...

Read more
Bitcoin Falls as $100K Support Faces Pressure After Market Sell-Off

Bitcoin Falls as $100K Support Faces Pressure After Market Sell-Off

October 11, 2025
NFT Market Sees $129M Weekly Sales as BNB Chain Surges

NFT Market Sees $129M Weekly Sales as BNB Chain Surges

September 28, 2025
Ethereum Can Outshine Google Says Vitalik Buterin – Here’s How

Ethereum Can Outshine Google Says Vitalik Buterin – Here’s How

September 21, 2025
XRP Aims for $4 as ETF Buzz Heats Up: Can the Hype Hold?

XRP Aims for $4 as ETF Buzz Heats Up: Can the Hype Hold?

September 10, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier