Visit to mint your Metamatician!
DeFrag will launch in phases, gradually adding features as the protocol matures.
In order to provide a frictionless borrowing experience, the protocol needs to raise liquidity which will be used to underwrite the loans. This is where Metamaticians come in.
Metamaticians are randomly generated NFTs based on famous mathematicians. By owning a Metamatician you will have a stake in the first Underwriting Pool to earn premium fees. A Metamatician NFT serves as an entry ticket into the DeFrag universe of NFT collateralized loans. During the mint, a random 8 digit number and a greek symbol associated with risk in pricing out financial instruments are generated and assigned to each Metamatician.
The 8 digit number will be used to generate unique properties on your NFT which can boost your abilities in our financial ecosystem. A few examples include - improving your collateral ratio in other words the ability to borrow more. Another example is increasing your stake in a liquidity pool. Once the protocol is live, the community will be able to vote in other interesting dynamic variables to be derived from 8 random numbers and real-world events.
All minting proceeds are automatically deposited into the DeFrag DAO Treasury. Once the community votes in the initial NFT project to be used as collateral, ETH will be converted into USDC and transferred over from the Treasury into the first underwriting pool. As borrowers begin to take out loans, the protocol will automatically lock up required USDC to underwrite put options.
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