Richard Li

Consumer crypto is poised for a major breakout this cycle. What have recent infra advancements unlocked, and what apps should you look out for in 2024? My new article for @Collab_Currency. @amanda0x/consumer-cryptos-breakout-cycle-2a212f2d1f4b" target="_blank" rel="nofollow noopener">medium.com/@amanda0x/cons…

@Crypto_Alita @4KProtocol @Walter82177936 @CirrusNFT @LucaNetz Lol

@4KProtocol @Walter82177936 @CirrusNFT @LucaNetz @Megatron The alpha vault

I just gave a $50,000 loan at 15% APR against an NFT that legally represents ownership of this Richard Millie I saw the listing, placed an offer I was comfortable with, and the borrower accepted. No paperwork, no credit checks, nothing... its that simple I don't know the borrower, but I do know that in 60 days I'll either earn $1,232 of interest or I'll be able to burn the NFT and have a cool new watch shipped to me The watch was authenticated, stored, and tokenized by the most trusted escrow for Real World Assets (RWAs) in crypto and as always the loan was facilitated on Arcade

@Olumide_Gbenro @CirrusNFT @LucaNetz @4KProtocol We offer live audits. You can schedule a zoom call with us anytime (for $5) and we will physically pull the asset out of the vault live.

@CirrusNFT @LucaNetz @4KProtocol @Megatron How do we know we can TRUST the platform??

@defitoast @LucaNetz @CirrusNFT @4KProtocol Let’s do it! If someone wants to, we will do it for free

@LucaNetz @CirrusNFT Someone should vault a pudgy vinyl with @4KProtocol 🐧

@YouBoredCoffee @CirrusNFT @LucaNetz @4KProtocol For the loan specifically? None for 4k

@white_house_eth @4KProtocol @Walter82177936 @CirrusNFT @LucaNetz The person redeeming for the physical asset is responsible for shipping/import tax and shipping insurance. Though we make it super easy through our redemption portal.

@4KProtocol @Walter82177936 @CirrusNFT @LucaNetz @Megatron Are you (the loaner/ receiver) responsible for shipping/ import tax and postal insurance?

Crypto is just an MLM for young men

@haydenzadams @4KProtocol will be vamp attacking web2 real soon ;)

I want more crypto projects that try to disrupt popular web2 apps using crypto superpowers to discover new use cases rather than building marginal improvements on the few existing use cases (AMMs, lending, etc) Vampire attack web2, not uniswap for the 5000th time

Meow DAO and the $1million dollar cat? Onlyfans and tokenized merch? No filter and it will be epic!

@captain6171 @CirrusNFT Oh wow i didnt even notice. I got a brass movement too ;) this the only piece I have ever purchased on the secondary.

@Megatron @CirrusNFT It’s a brass movement (super early) reserve de marche… good eye! And gorgeous piece you have there

Coolest thing I saw on chain this week was a lender giving a stranger a $35,000 loan at 12% APR using a Patek Phillipe as collateral Borrower sent the watch to an escrow company who then sent back an NFT that represents ownership of the watch Borrower then listed the NFT on Arcade, accepted the best loan offer on it, and then the NFT was transferred to an escrow wallet until the term is up or the borrower repays The only way to get the watch back is by burning the NFT so if the borrower defaults the lender can claim the watch Lender doesn't even have to know the borrowers name, they just have to know that they are the rightful owner of the watch - which is what the NFT does Sure, you can just go get a loan at your local pawnshop, but tapping into global liquidity versus local liquidity will always eventually land you at the best rate (This market is young so we aren't there yet) Just the tip of the iceberg for whats to come for proving ownership of Real World Assets using NFTs

@captain6171 @CirrusNFT Actually I mentally (delusioal) saw the moon phase but its just Automatique.

@captain6171 @CirrusNFT Love the lune, I want one in RG + salmon and full bracelet. Got this Journe recently!

Hi, We have an actual lab and its modeled after the top lab in the world. We only take recent years, most popular brands, excellent/very good condition only and full boxes & papers. Additionally, we have the best fakes in the world as training sets. Honestly, I could train you to authenticate watches in about 10 minutes. Fakes are only meant to fool the naked eye but once you apply scientific precision tooling, there is extremely small chance. Little more info: docs.4k.com/the-4k-alpha-v…

@CirrusNFT Hey Cirrus, Interesting thread, thanks for it. Dumb question maybe: Who is the 3rd party that / or any other neutral party that actually verifies that the watch is original / not fake? Or what type of automated mechanism is their in place to avoid scams of that sort? ty

We have an actual lab and its modeled after the top lab in the world. We only take recent years, most popular brands, excellent/very good condition only and full boxes & papers. Additionally, we have the best fakes in the world as training sets. Honestly, I could train you to authenticate watches in about 10 minutes. Fakes are only meant to fool the naked eye but once you apply scientific precision tooling, there is extremely small chance. Little more info: docs.4k.com/the-4k-alpha-v…

Fun idea - "Meow DAO" 1. Rescue 50 cats 2. Build a cat sanctuary and live stream is 24/7 to twitch 3. Integrate @4KProtocol and join as a Guardian 4. Tokenize each Cat 5. Work out a deal with game like Axie 6. Integrate cat into game so they can produce offspring 7. Cause economic mayhem when cat dies IRL First $1million dollar cat

@CirrusNFT @Jarjarbrinxs can i put my house as collateral? what about my cat? he’s old but easy to get along with

I mean there are many reasons, heres a few: 1. Marketplace - Chrono24 vs Opensea. 6.5% on buyer + ~8% sales tax. 7.5% for seller vs Buyer pays gas cost. 2.5% for seller. 2. Trad world - fixed duration, origination fees, massive paperwork, forced localities, predatory APRs (200% for pawnshops), takes weeks. vs. On-chain, transparent, instant, low/no fees, payback anytime.

We do have contingencies in place in event of the exact scenario you brought up. It will be up to the DAO on how to handle specific cases and slashing as well. If for example nothing is done. Someone still has to pay for the Vaulting + Insurance of the asset on-chain. If not, it will be auctioned (exactly like a MakerDAO CDP).

@CirrusNFT Fair, but then that watch is owned by no one? No one would be able to claim it

@brownie @CirrusNFT Yes just shipping address. ID verification dependent on level of shipping insurance.

@CirrusNFT Is any KYC involved for lenders when liquidating defaults?

@matt_barrie @rkmasiello @CirrusNFT Yes correct.

@Megatron @rkmasiello @CirrusNFT It’s at UOVO right?