🏘️Renting Maket

Lend & borrow play cards

Introduction

The DEGEN WAR$ renting market is a permissionless and collateral-free money market that lets people lend their DEGEN WAR$ play cards to other players. Other players can borrow these assets in order to participate in games. Depositors provide play cards to the market to earn a passive income, while borrowers are able to borrow these cards in an uncollateralized fashion. The DEGEN WAR$ renting market essentially functions as an in-game guild.

Mechanics

Depositors simply lend their cards by specifying the time / number of games they want to lend those cards out. Borrowers can simply borrow those cards without posting collateral by specifying the duration / no. of games they want to borrow those cards for.

Opposed to traditional money-markets like Aave, or Compound, borrowers do not pay a variable, or fixed borrowing fee, instead they pay a revenue share from the prize money, in case they won. Borrowing cards is not associated with any up-front borrowing costs, so you do not end up with any costs unless you win the game. In that case, you simply pay a revenue share to the card holder.

Once a card is borrowed, this card does not move into the borrower's wallet, instead it is deposited into a smart contract that takes custody of the card. Once the borrowing duration is over, the cards automatically return to the lender.