Decentralised finance (DeFi) is on everyone’s lips and is generating both interest and scepticism. Launched at the end of 2021, GooseFX is a DeFi platform that aims to offer the most complete functionalities possible to address some of the inefficiencies of the current market. Zoom on what GooseFX is offering, as it aims to become a key player in this new finance on Solana (SOL).
Presentation of GooseFX
GooseFX is a fairly complete platform that allows the exchange of many financial products that we will discuss below. It is built on the Solana blockchain and the decentralised Serum exchange (Serum DEX), which allows the platform to take advantage of the network’s benefits, namely fast and low-cost transactions.
The team behind the project, consisting of many engineers, is very confident in the future of DeFi. Their goal is to be one of the leaders in the field within a few years by offering everything a decentralised finance user could need. So it is a total DeFi experience on Solana that GooseFX is offering.
The particularity of this new platform lies in the number of financial products and options offered. Indeed, it is possible to trade crypto-currencies, in a classic way (spot) but also via a system of futures contracts. A swap system will soon be available in order to switch quickly and easily from one crypto to another.
You will be able to trade tokenized shares like Apple (AAPL) or Google (GOOGL) in the form of SPLs (Solana token standard). It will be easy to create, sell or bid on non-fungible tokens (NFTs), through a dedicated marketplace, as well as their derivative counterparts in the form of synthetic assets.
Synthetic assets are derivatives of financial products based on the blockchain. They are similar to traditional derivatives, the difference being that the tokenisation of the derivative asset links it to the underlying asset. In this way, it is possible to speculate on stocks and cryptocurrencies on the upside or downside.
Overview of synthetic assets on GooseFX
It should be noted that in order to use a synthetic asset on the platform, GOFX, GooseFX’s native cryptocurrency, must be allocated as collateral. This mechanism allows the synthetic asset in question to be minted in the form of gtoken and given value.
There is also a yield farming system. You can deposit different crypto-assets in these pools and will be rewarded with SRM and GOFX, for example, at attractive interest rates.
The Goose Nest, GooseFX’s new NFT marketplace
This is the next step for GooseFX, the release of its non-fungible token (NFTs) marketplace called The Goose Nest.
Scheduled for release in the coming weeks, the marketplace will use Metaplex, Solana’s protocol that allows creators to simply mint an NFT and auction it.
At the launch of The Goose Nest, it will be possible for designers to register and get verified, for users to filter their searches by collections, attributes, designers, prices and more. Also available will be registration and listing for NFT collections as well as the ability to bid on listed and unlisted NFTs.
The Goose Nest, an overview of the GooseFX NFT marketplace
Later in 2022 it will be possible to make loans secured by NFTs. By allocating an NFT as collateral on the platform, an NFT owner will be able to unlock capital through GooseFX, which will match lenders with NFT owners.
Another feature that The Goose Nest will support is cross-chain support for NFTs, allowing NFT owners from other networks to take advantage of the very low fees offered by the Solana blockchain.
The Goose Nest will introduce the possibility of acquiring a portion of an NFT, this notion of divisibility opens the door to decentralised autonomous organisations (DAOs) of NFTs as well as multiple owners of a digital object.
This new marketplace for non-fungible tokens is therefore ambitious, offering numerous functionalities while being user friendly, just like their DeFi platform.
As you can see, GooseFX has ambitious plans to become a reference platform for DeFi and NFT. Decentralised finance services are already available for those who want to get started and benefit from the advantages of the Solana blockchain
