GumBall Protocol goes live on Arbitrum

GumBall Protocol has gone live on Arbitrum. The news was shared by GumBall Protocol on Twitter, adding that more information will be shared on the official Discord channel. Meanwhile, followers can retweet the announcement to claim one free LiquiCat, an NFT collection that is currently in the minting process.

Followers have welcomed the update by calling it good news and sharing their excitement by replying so hyped.

Arbitrum is leading the charge to offer the best Web3 experience. Projects are coming on board to leverage a suite of Ethereum scaling solutions. What makes its offerings the best in the market is a set of advantages that include faster transactions, an added layer of security, and EVM compatibility. Users also enjoy an economical factor through Arbitrum.

Off-chain Labs is behind the creation of Arbitrum. It is a team of professionals who come from different backgrounds: research, engineering, and the Ethereum community.

GumBall Protocol, audited by Zokyo & Peckshield, enables its users to explore the power of DeFi non-fungible tokens. The protocol is a Liquid NFT creation and a trading hub. It creates a corresponding amount of ERC20 tokens that are specific to the collection.

ERC20 tokens created are then sold on a bonding curve, allowing users to conveniently swap the GumBall NFT positions, stake their positions, and do a lot more.

The collaboration of GumBall Protocol and LiquiCats goes a bit back to the current development. For instance, LiquiCats recently announced 900 ETH volume in the first two days of being on the protocol. GumBall Protocol also gave away 1 LiquiCat along with $tcap to the winner of the free poker event. It was organized in association with Cryptex Finance this Wednesday at 9 pm EST.

The objective was to better build the community, let users connect for the purpose of networking, and learn more about the future projects of GumBall Protocol & Cryptex Finance. Over $175 in LiquiCat NFT and one $TCAP has been given to the winner of the poker night.

Appreciated for its novel approach, GumBall Protocol resolves the issue of non-fungible tokens lacking liquidity. Exiting a position in the NFT market could be a challenge as it requires the presence of a potential buyer on OpenSea or other NFT platforms. Market value takes a hit, too, not allowing the NFT to be leveraged as collateral. GumBall brings the power of decentralized finance to the NFT segment through its native liquidity and the creation of an incentive-driven ecosystem where users can utilize their digital holding of non-fungible tokens.

According to the roadmap drawn by GumBall Protocol on its official website, the venture is set to release V2 in the first quarter of 2023. It will also obtain funds to expand in terms of hiring more employees and take its protocol forward. Collection holders can expect to receive voting powers that can be used to influence decisions regarding collection liquidity and vesting.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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