Bridgesplit Airdrop Review: Make Swaps on The Platform.

About Bridgesplit Airdrop

Bridgesplit is a protocol that enables everyday users and institutions to earn yield and get liquidity for non-fungible tokens via lending, indexes, fractionalization, derivatives and more. Bridgesplit doesn’t have an own token and could launch one in the future. Buying NFTs, providing liquidity or making swaps may make you eligible for an airdrop if they launch an own token.

Composability for unique assets

The DeFi and NFT ecosystems exist in silos, causing $20B+ of value to sit idle in wallets. Today, NFTs are the cornerstone of the digital art, gaming and entertainment markets, tomorrow, they represent all unique value, from vesting ownership in a protocol to an on-chain mortgage.

Bridgesplit enables any unique asset to become liquid and yield generative via NFT-collateralized lending, indexes, and more. Applications from marketplaces to games benefit from the Bridgesplit protocol.

Mechanics

A Floor Index has 0 tokens to start and mints 1,000 tokens for every deposited asset. Deposited assets are fractionalized prior to deposit, therefore only a full kilo-asset will mint 1,000 index tokens. Users can also deposit a portion of their dragon, receiving a proportional share of index tokens.

Index tokens may also be acquired by purchasing shares for SOL on the open market. Index tokens may be swapped for any individual asset fractions backing the index. This is the only way to acquire the underlying shares of the specific asset.https://cdn.iframe.ly/NH5RLth

Example Scenario

Consider the following scenario using Boryoku Dragonz as an example collection for a Floor Index. Alice deposits Boryoku Dragon #18 to the Boryoku Dragon Floor Index, receiving 1,000 DRAG. Bob deposits 49% of Boryoku Dragon #42 to the index, receiving 490 DRAG and 510 shares of Boryoku Dragon #42. Four more users deposit their kilo-dragons to the index (#1, #2, #3, #4). The Floor Index now has 5,490 outstanding DRAG. The assets backing the index are:

1. 1.1,000 shares of Boryoku Dragon #18
2. 2.490 shares of Boryoku Dragon #42
3. 3.1,000 shares of Boryoku Dragon #1
4. 4.1,000 shares of Boryoku Dragon #2
5. 5.1,000 shares of Boryoku Dragon #3
6. 6.1,000 shares of Boryoku Dragon #4

Fractionalization

When fractionalizing an NFT, there are multiple customizable parameters, including:

• Total supply : the number of fractions to split the NFT into. Collectors can hold as little of 0.01 fractions
• Ticker: this is the symbol for the fractions that will appear on Phantom or sites like SolScan or CoinGecko (i.e $SOL for Solana)

Upon fractionalization, there are 3 action options:

• Vote: As a holder of fractions of the NFT, the user is entitled to vote on whether or not the asset can be bought out and at what price
• Creating a market: Holders of fractions of the NFT may also create a market to trade fractions. After fractionalizing, the user has the option to create an AMM market, Orderbook, or no market. If the user elects not to create a market, any fraction holder may still create one in the future. Read more about different markets here.
• Providing Liquidity or Selling Shares: To create an AMM, the user must deposit the initial liquidity to the market.A user who only creates an orderbook has the option to sell shares on the orderbook. Read about providing liquidity here and selling shares here.