Burnt Finance provides an intuitive interface for minting new assets. These assets can be synthetics, NFTs, and even new digital assets.
Synthetics: Burnt Assets (bAssets)
A diverse array of synthetic assets can be minted on Burnt Finance which are termed Burnt Assets (bAssets).
bAssets can include synthetic versions of real world stocks, commodities, indices, etc. Given Solana's exceptional transaction times and negligible fees, the minting of new bAssets is entirely seamless.
Collateralization of bAssets
Both stablecoins such as USDC and the native BURNT token can be utilized as collateral for the minting of bAssets. A collateral ratio of 150% is used for stablecoins while a collateral ratio of 300% is used when the BURNT token is used as collateral.
If the value of an asset rises above the collateralization threshold, the collateral is liquidated to retain solvency. The bAssets must be burned in order to redeem the initial collateral.
Note: bAsset prices are determined by the utilization of decentralized price oracles.
Non-Fungible Tokens (NFTs)
Burnt Finance offers the ability to mint a wide array of NFTs.
Minting New NFTs
NFTs can be created from any media of the user's choice (images, videos, GIFs, etc). The process is simple given Burnt Finance's interface.
The creator can select a name of the NFT and dictate specific properties such as the item description. Lastly, the user can select a desired future royalty.
The Burnt Finance Marketplace
Both creators and buyers are provided with an unmatched marketplace for NFTs and synthetics.
Buyers are able to make purchases without the typical exorbitant gas fees prevalent on other NFT marketplaces. Issues such as bid manipulation and front-running are also dramatically diminished given our unique Solana based architecture.
New Digital Assets
Users can mint new digital assets on the Solana blockchain through the Burnt Finance interface. Given the existence of Wormhole (the bridge connecting Solana to Ethereum), anyone can easily bring over their Ethereum-based assets over to Solana.
Users can also fundraise for new projects through a variety of different auction types (described further in the Auctions section).