“Slash Vaults” Beta Released, Expanding NFT Use Cases

Beta release of Slash Vaults

Slash Fintech Limited, the developer of crypto asset (virtual currency) payment service “Slash Web3 Payments”, announced on the 5th a new service “Slash Vaults”. A beta release is planned for this month.

Slash Vaults LP has been released! https://t.co/2gZKFpeIFs

Slash Vaults consists of two apps, Vault App and Airdrop App. Vault App is an app that can be used if you have an ERC721 NFT and you can use your own NFT like a wallet, and Airdrop App is an app that allows you to airdrop to other people’s NFT wallets. pic.twitter.com/Ahzmh8RPrN

— yagi / CTO @ Slash (@yagi_slash) July 5, 2023

“Slash Vaults” is a platform that uses NFTs (Non-Fungible Tokens) as access keys to enable various FT (Fungible Tokens) deposits, withdrawals, timed locks, and investments.

According to Slash CTO Tatsuya Yagi, Slash Vaults consists of two main components: the Vault App and the Airdrop App. The Vault App is an app that can be used if you have an ERC-721 NFT and you can use your NFT like a wallet, and the Airdrop App is an app that allows you to airdrop to someone else’s NFT wallet.

At the beginning of the July release, Slash Vault (beta) will support Ethereum and only allow NFTs on the allowlist. It is planned to support Polygon in the near future.

Source: Slash

NFT owners can connect their Web3 wallets to the Slash Vaults platform and access vaults for each NFT they own. It will be useful to store the FT issued by the NFT project and to eliminate the complexity of asset management.

In addition, assets deposited in “Slash Vaults” can be used for various settlements through “Slash Vaults Pay” and can also be used to pay gas charges (network fees). This will provide a “gasless payment” that enables token remittance even if there is no native token such as ETH.

Slash Vaults present additional use cases for NFTs that have traditionally been owned and sold. Going forward, we aim to expand the scope of cryptocurrency payments through the implementation of utilities such as NFT payments (NFT Pay), gasless pay, and interoperability protocols.

connection:Cryptocurrency payment service “Slash” partners with domestic cryptocurrency exchange Zaif

What is Slash

“Slash” is a decentralized payment protocol that connects diverse Web3 wallets to third-party decentralized finance (DeFi) dApps via smart contracts to automatically complete payments, primarily using FTs and NFTs. A project that aims to develop

Slash is currently building its own ecosystem. In early June, we released plans to issue the Slash Vision Labs Token (SVL), which is related to governance tokens. On June 30th, we started selling our own NFT collection “Alice by Slash”.

“Slash Vaults” plans to develop new launchpads for FT and NFT in the future. This will incorporate a MINT (issuance) function for FT and a MINT event function for NFTs, allowing NFT projects to issue their own FTs and achieve a fair launch.

connection:Cryptocurrency payment service Slash partners with Softbank subsidiary and Zaif