🌌What is nftperp?

Introduction to nftperp

nftperp is an open-source DeFi platform enabling users to trade on the price of NFT collections like Pudgy Penguins and CryptoPunks using perpetual futures contracts, with all transactions in ETH.

How it Works

With perpetual futures, you don’t need real NFTs as collateral. The perpetual futures contracts simply track the floor price of the underlying NFT collection, Allowing traders to come to the exchange with ETH and leave with ETH.

• Perpetual Futures: Trade on NFT prices without the actual NFTs.

• Cash-Settled: Use ETH to take positions without needing NFTs as collateral.

• No Expiry: Contracts on nftperp do not expire, facilitating uninterrupted trading.

• Funding Rate: Payments between traders maintain contract prices in line with the NFT market.

Summary

nftperp offers a platform for trading on NFT values without owning NFTs, utilizing a perpetual contract model that operates with a robust liquidity system.