Introduction

What is Themis?

Themis is the first protocol to bring DeFi to the booming Metaverse and GameFi economies.
Use your NFTs as collateral for loans, leverage your NFTs, and GameFi liquidity. Earn DeFi yields that are driven by playing your favorite on-chain games, not by trading.
Themis also provides leverage to liquidity providers. UNI-V3 LP’s, which are represented as NFTs, can now be leveraged to borrow stablecoins. All without giving up your original position.
In many cases, the trading fees alone may be enough to self-redeem the entire loan including the interest. A loan that pays itself back.
In addition, we’re scaling liquidity provision for market makers, launchpads, and long-term holders.
Themis is on a mission to bring liquidity to the otherwise illiquid metaverse…

How does Themis work?

Themis is a decentralized P2P lending protocol built on Ethereum. It is compatible with ERC-721/ERC-1155 assets and enables users to create anonymous lending between pools of funds and mortgagers of NFTs. Including Uniswap-V3 LP positions. Market makers can also obtain market-making benefits by forming loan settlement relationships with the capital pool to borrow crypto assets for other purposes.
Lending Pool
  • Users get interest-bearing SP-tokens by depositing assets into a pool of funds;
  • A 1:1 equivalent anchoring relationship between SP-token and deposited asset is formed.
  • The agreed interest formed between the lending pool and the deposit will be adjusted automatically according to the utilization rate of the pool;
  • Users can create Vaults to generate long-term deposits and obtain NFT certificates of deposit.

Borrowing

  • Allow users to borrow assets by collateralizing their NFTs including UNI-V3 NFTs. (mortgage rate: 0.65-0.75);
  • Uniswap’s V3 Oracles are used for quotations and can provide TWAP (time-weighted average pricing) on demand.;
  • When liquidation conditions are met, the mortgage will be liquidated to ensure the security of the loan capital pool.
  • After the user returns the principal and interest, the Protocol will charge 5% of the user's return interest.
  • Uniswap-v3-TWAP is used for quotations;
  • Liquidation occurs when (outstanding principal plus interest/collateral value) >= collateral factor (0.8);
  • Liquidators will receive governance token incentives immediately after liquidation settlement

Auction

  • A Dutch auction is initiated for liquidated assets with a 5% reduction every four hours;
  • The liquidator must bid at least 80% of the NFT's collateral value.
  • After liquidation, the principal and interest will be repaid and the remaining assets are moved to Themis’ treasury.
  • NFT avatars represent a user's VIP status;
  • A user’s address with permissible NFT signature binding enables a higher mortgage rate option for borrowing;
  • When the user exercises this privilege, the contract will verify the balance of the NFTs contained in the borrower’s address.

Advantages

Unlike most DeFi protocols that allow only the lending of ERC20 assets, Themis utilizes assets spanning multiple chains. This makes it the ultimate money lego because the usage scenarios are endless.
  • High efficient funds pool model
  • ERC721/ERC1155 compatible
  • Organic revenue
  • Easy to use
Themis Competition Pattern

Utilization

  • Manage your assets to earn interest.
  • Use the liquidity of SP-tokens to create derivatives;
  • Use SP-Token as collateral;
  • Market makers can increase capital leverage;
  • Market makers can unlock liquidity;
  • Market makers with multiple liquidity-focused positions have the ability to rebalance;
Themis-Protocol
GitHub
Last modified 5mo ago