Wasabi Protocol’s ‘Wasabi Perps’: Revolutionizing NFT Derivatives Trading

Wasabi Protocol, an innovative player in the decentralized finance (DeFi) space, has broken new ground with the launch of ‘Wasabi Perps,’ a pioneering non-fungible token (NFT) perpetual product on the Ethereum mainnet. This inventive offering ushers in a new era of NFT derivatives trading, with positions collateralized by the underlying tokens themselves. The move is designed to establish a more fluid settlement layer and drastically reduce counterparty risk for those participating in NFT derivatives trading.

A Leap Forward in NFT and DeFi Space

The advent of Wasabi Perps marks a monumental stride in the NFT and DeFi sectors, equipping NFT holders and investors with a new financial instrument to leverage their digital assets. The product’s introduction comes at a time when the NFT marketplace is experiencing unprecedented growth and recognition, further amplifying its significance.

Assets Supported by Wasabi Perps

At the time of the announcement, the assets bolstered by Wasabi Perps encompass tokenized versions of several popular NFT collections, including uBAYC, uPPG, uAZUKI, uJeerGirl, uDEGODS, and uMOONBIRD. This broad spectrum of support demonstrates Wasabi Protocol’s commitment to catering to a wide range of preferences in the burgeoning NFT market.

The Potential Impact on NFT Pricing

The inception of a public and liquid perps market could have notable implications for NFT pricing. Traders can wield direct market influence and buy or sell utokens with leverage, potentially affecting the price of NFTs in the market. In addition, users can generate yield through the Wasabi Vault and partake in the Season Two Points System, adding another layer of functionality to this versatile product.