What Is FluidTokens? - A Project Born On The Cardano Blockchain

By Soberchino | CardanoChino | 3 Sep 2023

What Is FluidTokens?

If you're into NFTs and love borrowing money from friends and family then you will love this project I came across the other day, born in March 2022 on the Cardano Blockchain FluidToken (FLDT) is a DeFi NFT and Lending project, in addition they have listed on many other blockchains since their launch;

Cardano
Polygon
Abritrum
Milkomeda
SUI
Solana
Cosmos

They are actively working with our partners to ensure a smooth cross-chain experience for all the users, allowing more opportunities for all the users without sacrificing the safeness.

In December they migrated to a V2 and since then they have grown exponentially on the blockchains and are working on bringing many more utilities to the space.

FluidTokens is the first ever DeFi lending platform where borrowers can offer their most valuable NFTs as collateral to borrow cryptocurrency that can be reinvested and repaid under the requirements agreed by both parties.

FluidTokens is a series of Smart Contracts written in Plutus where the lending and borrowing logic is fully on-chain, therefore decentralized.
The only off-chain part is the frontend that allows to connect with the user wallets and to easily interact with the lending platform.

How Does It Work?

To understand how the FluidTokens loan system works please go over to the FluidTokens Whitepaper (Note: On page 4 there will be a guide and module description explaining and show how each step works).

In general, you will learn how the FluidToken loans are implemented via NFTs or Tokens, how the smart contracts are set up and the safety procedure and which software's and programs they conduct.

Here are a few points that may get you interested;

In Cardano a Smart Contract is a script that can own tokens at its address and that always checks if any user (or any other Smart Contract) is permitted to spend these tokens in a transaction. This is different from Ethereum where Smart Contracts are software's fully loaded on-chain and that support several types of imperative languages constructs such as class inheritance.
FluidTokens is a series of Smart Contracts written in Plutus where the lending and borrowing logic is fully on-chain, therefore decentralized. The only off-chain part is the frontend that allows to connect with the user wallets and to easily interact with the lending platform.

What You Can Find On Their Website

Their website is easy to follow and straight forward to the details, no messing about, you will come across their Roadmap their B2B, tokenomics and the team behind FluidTokens (I have added the teams X and one of the others LinkedIn links at the end of this article).

There is also a tab that sends you directly to their App Fluid Lending Platform this is where you can rent out your NFTs and/or loan our Tokens and NFTs vice versa and there is also a section where you can join or create liquidity pools where you can take or give out loans instantly with all your assets.

You will also come across their partners and ambassadors with links to their X (Formerly known as Twitter) accounts.