Round Robin launches Korea’s first bond-type NFT product ‘Farming NFT’


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[Blockchain Today Reporter Park Yo-han] A ‘bond-type NFT’ product that utilizes the unique characteristics of non-fungible tokens (NFTs) has been launched in Korea. Round Robin, the AMM-based DeFi platform, officially launched the service on the 17th (Mon) and commercialized the first domestic ‘farming NFT’ product, which pays a fixed interest equivalent to 150-250% of the annual interest rate to the purchase amount when the maturity is reached.

‘Farming NFT’ is an NFT product that can be purchased with Round Robin Token (RRT), Round Robin’s reward token. If you purchase at RRT 50 to 100,000, after reaching the maturity specified for each product, interest equal to 150 to 250% of the annual interest rate is added to the purchase amount and refunded at once.

Round Robin will also support free external transmission of ‘farming NFT’ in the near future. Even if the expiration date has not arrived, buyers can pre-trade ‘Farming NFT’ in other NFT markets that support peer-to-peer (P2P) trading or NFT sales. However, the sales function within the Round Robin platform is not supported.

For example, if it is a ‘farming NFT’ where you can pay 5,000 RRT and get a refund of 7,500 RRT after the expiration of 60 days, it is about 6,000 to 7,000 RRT, which is slightly discounted from the maturity amount in other NFT markets depending on the needs of the buyer. Pre-sale is also possible.

‘Farming NFT’ is a new type of blockchain bond that utilizes the characteristics of NFT. NFT has a unique identifier (unique information) for each token. Based on this unique information, users who have purchased can freely trade by transacting between external platforms or personal wallets (smart contracts) rather than round robin.

When the expiration date arrives, Round Robin pays the refund amount only to the ‘list of holders’ who have the corresponding token.

Round Robin’s ‘Farming NFT’ is a business model (BM) that can use NFTs as ‘bonds’ in a form that minimizes separate management processes by taking full advantage of the characteristics of blockchain that can clearly check token transaction details and holding information. ) has been commercialized.

The introduction of ‘bond-type NFT’ is a business model (BM) that attracts attention regardless of inside or outside the blockchain industry. Recently, some political circles have announced their plans to issue political donation receipts as NFTs and use this unique information to process refunds after the election.

A Round Robin official said, “Commercialization of Round Robin’s ‘bond-type NFT’ It is meaningful in that it actually presented a commercialized model of the ‘bond-type NFT’, which is being discussed for introduction both domestically and internationally. We will continue to strive to present a new paradigm for NFT utilization, such as launching additional ‘bond-type NFT’ products through cooperation in various ways.”

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