Vaults & Stash

Vaults

Vaults allow users to bundle multiple assets and borrow against them as a single loan. The vault itself becomes an NFT that represents ownership of the bundled assets.

What Can Go in Vaults

  • ERC-721 NFTs: From any supported collection

  • ERC-1155 tokens: From supported collections (see appendix for list)

  • ERC-20 tokens: From supported collections (see appendix for list)

  • Mixed combinations: Any combination of the above token types

Vault Requirements

ERC-1155 Support: ERC-1155 tokens cannot be used as direct collateral and must be placed in vaults to receive loan offers.

Legacy SuperRare Support: Old SuperRare ERC-721 tokens must be wrapped using GONDI's "Stash" wrapper before use in vaults or individual loans.

Creating and Managing Vaults

Creation: Anyone can mint a vault (requires gas fees)

  • Add desired assets during creation

  • No minimum or maximum asset limits

  • Vault becomes an NFT representing the bundle

Modification Restrictions: Once created, vaults cannot be modified

  • Cannot add new assets to existing vaults

  • Cannot remove individual assets from vaults

  • To change contents: repay any loans, burn vault, withdraw assets, create new vault

Vault Loans

Offer Process: Lenders can see all assets within a vault when making offers

  • Only item-specific offers available for vaults

  • Collection offers do not apply to vaults

  • Borrowers receive offers based on the entire vault's value

Active Loan Restriction: Vaults with active loans cannot be modified

  • Must repay loan in full before making any changes

  • Burning vault with active loan is not permitted

Benefits of Vaults

  • Higher borrowing limits: Combined asset value may qualify for larger loans

  • Better terms: Bundled assets can attract more competitive offers

  • Simplified management: One loan instead of multiple individual loans

  • Cost efficiency: Fewer transactions and reduced gas fees

  • Flexibility: Support for multiple token standards in one bundle

Technical Notes

  • Vault is an NFT that holds the bundled assets

  • Buyers/bidders can inspect vault contents before purchase

  • During liquidation, winners receive the vault NFT

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