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Wolves of Wall Street (WOWS) Partners with Cover to Bring Insurance Coverage to Staked Liquidity Value NFTs

coingape.com 16 April 2021 12:53, UTC
Reading time: ~3 m

Decentralized finance (DeFi) project Wolves of Wall Street (WOWS) has inked a partnership with the Cover Protocol, an insurance startup seeking to cater to the needs of the cryptocurrency ecosystem. Per the partnership as highlighted in a press release shared with Coingape, the partnership will allow users and investors of WOWS to insure their staked liquidity value Non-Fungible Token (NFT) in a bid to make WOWS C-Folios a productive and appealing tool for users and investors alike.

The Wolves of Wall Street is a DeFi project that is striving to expand the use of Semi Fungible Tokens (SFTs) to enable anyone to deploy one character card as its own mini DAO to trade in legitimate profit-seeking strategies and earn higher returns through gamification. The WOWS ecosystem is powered by the WOWS token, and the project seeks to rake in more value for the investor through a token that acts as a portfolio of crypto assets and an automated financial portfolio that earns whilst resident in your cold wallet.

In achieving its aim, the protocol will enter a series of partnerships in the near term and it has fully implemented important provisions of Uniswap’s V3 upgrade to power its operations. 

The WOWS Uniswap V3 Integration Brings Improved NFT-Backed Offerings

One of the many product offerings of WOWS is the ability to help NFT holders generate returns with their assets through a direct purchase of its C-Folio product. Once this is done, users can then “put their NFTs into it to generate returns. WOWS have created a multi-use case C-Folio to be used as a DeFi tool. This means profit performance can be enhanced by adding gamified upgrade NFTs, a C-Folio for curated NFT ART,” according to the press release.

This offering is now better enhanced with the implementation of the NFT-backed Uniswap V3 upgrades. One of the major upgrades designed by the UNISWAP V.3 is that they will now be returning Liquidity Pool tokens as an ERC721 NFT token type and not as the more common ERC20 token, a provision that will generally improve the use cases for NFTs.

WOWS has already implemented this upgrade in its DApp and will be launching with the farming staking DeFi launch within four weeks, giving the entire project a headstart in the NFT metaverse.

The Dubai DeFi Summit Schedule

Wolves of Wall Street will be making its first appearance at the Dubai DeFi Summit scheduled to hold on the 2nd and 3rd of June 2021. This meeting, which largely recognizes the creative work of the WOWS team will feature a 20-minute presentation and pitch by project lead Tristan and Marketing lead Mateen.

Besides the global exposure the Dubai DeFi Summit will open the WOWS project and ecosystem to, it will also allow a high profile networking with DeFi investors who may be looking to back the project’s futuristic product offerings.

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