Sharky

Usage and Applications

Sharky’s primary use case is NFT lending, where users can borrow liquidity against their NFTs without selling them. This creates liquidity for NFT holders while still allowing them to retain ownership of their assets. Lenders, on the other hand, can offer loans to NFT holders and earn interest, making Sharky a two-sided marketplace for NFT-backed loans.

The tokenized ecosystem adds another layer to Sharky’s platform. Users can earn $FISHY tokens by participating in various platform activities, such as lending, borrowing, or staking. $SHARX tokens allow users to engage with the platform’s governance system and stake their tokens for higher rewards and bonuses.

Additionally, Sharky’s gamification strategies, such as tasks and achievements, enhance user engagement and create a dynamic, interactive experience for participants, making it more than just a standard DeFi lending platform.

Governance Token

The $SHARX token serves as Sharky’s governance token. It allows users to vote on platform upgrades, protocol changes, and new feature implementations. Holders of $SHARX can stake their tokens to participate in the governance process and earn additional rewards from the protocol’s revenue streams.

Tokenomics of $SHARX are designed to reward long-term engagement, with staking incentives and governance rewards encouraging active participation in decision-making. In contrast, $FISHY tokens are used for in-game mechanics and offer rewards for completing tasks within the Sharky platform.

Notable Events

• Launch of NFT Lending Protocol: Sharky introduced its NFT-based lending system, allowing users to borrow and lend NFTs as collateral for loans.
• Introduction of $FISHY and $SHARX Tokens: Sharky gamified its platform with the introduction of these tokens, creating an interactive and incentivized experience for users.
• Gamified Staking and Rewards System: The platform added gamification elements, enabling users to earn rewards for completing tasks and staking $SHARX tokens.

Relevant Metrics and Data

• Total Value Locked (TVL): Sharky’s NFT lending protocol has seen a steady increase in TVL, reflecting user engagement with the platform’s liquidity options.
• Token Staking: A significant portion of $SHARX tokens are staked within the platform, contributing to governance and reward mechanisms.
• Loan Volume: The platform has facilitated numerous NFT-backed loans, providing liquidity options for NFT holders while creating opportunities for lenders to earn interest.