What is the Bridgesplit Project? Complete set of details about the project

• Overview of the Bridgesplit . project
• What is the Bridgesplit Project?
• Highlights of the Bridgesplit . project
• Products of Bridgesplit
• Roadmap of the Bridgesplit . project
• The project's development team, investors and partners
• Development team
• Investors and partners
• Tokenomics of the Bridgesplit . project
• The future of the Bridgesplit . project
• summary

Overview of the Bridgesplit . project

What is the Bridgesplit Project?

Bridgesplit is a project designed as a financial infrastructure for cross-chain cryptocurrencies. Bridgesplit provides users with the ability to aggregate and liquidate cryptocurrencies for the next phases of the Web 3.0 platform .

At the same time, the Bridgesplit project also provides a protocol to help solve the problem for NFT whales (whales holding more than 10 million USD) that are not yet able to trade in the NFT market ; for collectors who want to collect blue-chips for sale at the 1Sol protocol; and for collections looking to expand their utility to the NFT market.

Currently, Bridgesplit is the first decentralized financial repository for NFT. The protocol of this platform is designed with 4 main functions and will develop many more additional functions in the future.

Specifically, the current 4 main functions include:

• NFT fragmentation
• NFT Group
• NFT Derivatives
• Scalable NFT – Mortgage Lending 

Highlights of the Bridgesplit . project

The Bridgesplit project has some outstanding features as follows:

Provide a decentralized financial platform for NFT

This feature sets Bridgesplit apart and solves many of the outstanding problems of the NFT ecosystem:

• Historically, NFT cryptocurrencies have been ignored by decentralized finance platforms. The reason is that the expansion of financial infrastructure for this purpose is very complicated and difficult. There are billions of dollars frozen and unused.
• On the other hand, there are many stocks that have been overvalued outside of blue-chips and cannot participate in the ecosystem. Many other stocks failed to make a profit while still being traded on the market. Liquidity and flexibility are far-fetched goals in the NFT ecosystem at the moment. 

Providing end-to-end financial infrastructure for NFT

This infrastructure includes 3 features:

• NFT fragmentation: Allows NFT holders to sell only a fraction of their assets, while also gaining access to low-cost blue-chip assets. In addition, NFT fragmentation also enables communities to grow to more than 10,000 NFTs.

• Indexes Feature: Through this feature, NFT indexes can display NFT portfolios with high authenticity. Meanwhile, DAOs and professionals can sell shares in their collection.

• Lending Feature: The NFT mortgage lending feature has opened up billions of dollars in liquidity to collectors looking to trade, earn, or spend their NFT capital.

Products of Bridgesplit

Regarding Bridgesplit products, the design team provided the corresponding product system to meet the features of this platform. Specifically: 

NFT fragmentation

When NFT fragmentation is performed, a smart contract containing new cryptocurrencies, displayed representing NFT transactions, will appear. These segmented transactions are unique to each NFT.

Transactions involving NFT fragmentation are NFT asset exchange. After forking their NFT, the owner can create a marketplace for the sale of the forked NFT portions. To implement this feature, the project needs the support of the Raydium AMM protocol on Serum. Owners of NFT shards can also provide liquidity to the AMM and recoup revenue from transaction fees or book order fees. For collectors, they can purchase NFT shards from these marketplaces and it will be displayed directly on the vault page, as long as the NFT shard has not been purchased by anyone. 

Specifically, these transactions include:

• Swap: Raydium protocol powered by AMM, allowing anyone to trade between SOL and NFT shards at a price set automatically based on supply and demand. As soon as the swap is confirmed, the trader will see the impact in terms of price. This is the difference between the price in other markets today and the desired price for a transaction. This price will be determined by the trade size, which is calculated based on the amount of liquidity in the pool. The more tokens a person buys in the pool, the higher the price will be, and the price impact will then be “adverse”.

• Advanced: In case of low liquidity, traders can switch to Advanced tab. A deal offered by the Serum order book will then appear. With this type of transaction, users can place orders in advance. They will then be replenished by other users. For example, if a user wants to sell their 100 NFT shards, they will have to place a sell order and receive SOL for the NFT segments they have placed when another user also places a buy order at the same price.

• NFT Buyout: Buyout trading will be enabled when at least 51% of token holders vote in favor of this feature. Once Buyout is enabled, all users can start bidding in 24 hours for their NFT. The auction will start at the minimum price, calculated based on the average of all users voting for the minimum Buyout price. Plus, users can purchase NFT instantly for 1.75 times the current auction price. Once the auction is started, voting will be disabled. NFT will be exhausted. However, in the event that Buyout has been enabled but the auction has not yet started and the number of “yes” votes is reduced below 51%, the Buyout will be closed. 

NFT Group

The NFT team product is currently in the process of being finalized and will be available soon.

NFT Lending

The NFT loan product is currently in the process of being finalized and will be available soon.

Roadmap of the Bridgesplit . project

Updating

The project's development team, investors and partners

Development team

This information is being updated.

Investors and partners

Investors

In the seed round, the Bridgesplit project raised $4.25 million and the investors leading this round are CoinFund and JumpCapital. In addition, Bridgesplit has also received investments from many other large institutional investors in the market such as: Coinbase Ventures, Solana Ventures, Not Boring Capital (Packy McCormick), Sfermion, Liquid2 (Joe Montana), a41 Ventures and Rucker Park Capital.

Partner

Regarding partners, Bridgesplit will cooperate with PlaygroundsDAO after successfully launching the MonkeDAO mascot segment. PlaygroundsDAO will join Bridgesplit as the Alpha launch partner in the second phase of the project.

Tokenomics of the Bridgesplit . project

This information is being updated.

The future of the Bridgesplit . project

Compared to the blockchain market in general, the Bridgesplit project is relatively new and is currently in the early stages of idea development. However, the initiative to bring a decentralized financial infrastructure to NFT is quite unique and outstanding. At the same time, the project can solve many outstanding problems in the NFT ecosystem and will bring more sources of liquidity to this ecosystem. From there, it helps NFT to be easily exchanged on the market.

With the orientation of providing the market with the aforementioned financial products and working on Solana and many other blockchains, Bridgesplit brings many differences and practical uses to market participants. current blockchain market.

summary

As the first NFT financial platform to leverage Solana, at the same time allowing NFT to be combined with DeFi and providing extensive features such as NFT segmentation, mortgage lending, etc., the Bridgesplit project is considered extremely important. important and necessary for those who own NFT and participate in crypto-asset trading activities.

Interested readers and want to learn more information about the project can watch the channels below:

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