iZUMi is a decentralized, peer-to-peer marketplace with its own cryptocurrency, izumiCoin. The team came together to create the iZUMi platform after realizing that their previous project in crypto had failed because of lack of scalability and liquidity. They believe this new approach will incentivize people not just to trade but also invest as well, leading to a more sustainable model for blockchain growth.

iZUMi Collaborate With HOURAI in Innovative NFT-Meets-DeFi Recipe

Despite its capacity to expand and boost the usability of NFTs, combining NFTs with DeFi remains a largely untouched sector of Web3 investigation. With this in mind, iZUMi Finance, a leading DeFi protocol and supplier of programmable liquidity on Uniswap V3 multi-chains, has partnered with the HOURAI NFT project to establish a new NFT series that will benefit from iZUMi’s DeFi derivatives.

The HOURAI NFT drop will take place on April 6th, only a few days after the iZUMi DAO veNFT drop on March 21st (which will also include the beginning of staking rewards distribution). Each HOURAI NFT is valued 0.1 ETH ($302 approx.) and may be exchanged for an iZUMi DAO veNFT, which is worth 0.2 ETH ($604 approx.) and includes locked $IZI tokens. 

The iZUMi DAO veNFTs are a one-of-a-kind DeFi governance innovation that aims to address the inherent nature of current DeFi structures, which require that wealth is directly proportional to power. To do so, they exercise governance by being locked to iZi tokens, which may then be used to produce quadratic voting, which is a more democratic method of vote-counting.

veNFT’s voting power is determined by multiplying its locked quantity of iZi tokens by the ‘locked time remaining’. By default, owning a veNFT enables you to participation in the iZUMi DAO, as well as staking and boosting privileges. 

The HOURAI NFT series, on the other hand, is a collection of anime-style characters, each inspired by the enigmatic and Stoic characteristics of Asian cultures. By incorporating an undisclosed DeFi initiative sponsored by significant industry players, they’ll be able to add value to their floor pricing. 

“Collaborating with iZUMi is a win-win for both initiatives,” Leo Lee, co-founder of HOURAI, said of the relationship. Our NFT holders get more value supported by DeFi derivatives, as well as the opportunity to join in a new initiative, while iZUMi gains more long-term DAO members.”