How many different actors are interacting with a Spot pool?

  1. Pool creator sets the configurations (NFTs in the pool, tranche size, collateral slots,

epoch length, interest rate, and risk parameters); doesn't need to own the NFTs he

creates the pool(s) for.

  1. Appraiser = the one who puts ETH into the pool to price the NFT

  2. Owner = the one who has an NFT in a pool filled with ETH

  3. Lender =Here Abacus, takes custody of the NFT, and gives out the loan.

Abacus as a Pool creator

Creating a pool for Abacus has no particular advantages for the pool creator. Pools can be created by anyone. Pools can consist of single NFTs, multiple NFTs and combinations of multiple different NFTs (and collections). Pool creators decide on the NFT(s) they put into the pool, the interest rate and the number of collateral slots. Collateral slots = how many NFTs in that pool can profit from liquidity at the same time

(a pool with 3 NFTs and 2 collateral slots, means that 2 owners can take out a loan at the same time. Total ETH value locked in pool / Collateral slot = Liquidity each of the 2 owners can use for the loan. Imagine 10 ETH is locked with 2 collateral slots, each owner has 5 ETH worth of liquidity).

Abacus as an Appraiser

Why appraise? Earn from interest rate and eventual auction proceeds

How appraise? Think Pool value under NFT value? Put in ETH. Think pool value over NFT value? Skip pool. Ask the same questions on another pool.

Abacus as an Owner

What can owners do? Trade NFT for liquidity in the pool / use the liquidity to get a loan.

How is payout determined? Liquidity locked / collateral slots = Pay out per slot. 30E liquidity and 1 slot = receive 30E. 30E liquidity & 2 slots = Receive 15 ETH/slot.

What happens if the owner sells the NFT to appraisers? Immediately receives the liquidity locked, NFT goes into 48h auction. Appraisers get auction proceeds.

What happens if the owner trades/sells the NFT somewhere else? Nothing, the pool stays open and the new owner has access to it.

Abacus as the Lender