Mimicry provides a platform for speculators to engage in long and short positions on NFT markets using on-chain price oracles to ensure fraud resistance and reproducibility. The startup addresses the lack of protection for everyday investors in illiquid markets, allowing them to make informed predictions on market capitalization trends without incurring platform fees until the community decides otherwise.
Funding
Funding not disclosed
Founders
Product
Problem
Existing frameworks for trading NFTs often fail to adequately protect everyday investors, particularly in volatile and illiquid markets. These investors lack access to tools that allow them to speculate on NFT market capitalization trends without incurring excessive platform fees or risking price manipulation.
Solution
Mimicry provides a decentralized platform that enables users to take long or short positions on NFT markets. The platform uses on-chain price oracles to ensure fraud resistance and reproducibility, creating a transparent and secure trading environment. Users can predict whether the total market capitalization of selected NFT collections will increase or decrease, depositing tokens to open positions. Mimicry aims to protect everyday investors by offering a simplified UI, easy-to-understand odds, and the ability to open positions with various fungible tokens.
Target Audience
The primary target audience is everyday investors and speculators interested in participating in NFT markets, particularly those seeking a safer and more transparent trading environment.
Features
- On-chain price oracles for fraud-resistant and deterministically reproducible price feeds
- Support for long and short positions on a variety of NFT collections and macro markets
- Simplified user interface for easy navigation and trading
- Ability to deposit various fungible tokens, including WETH and USDC
- Community-governed fee structure, with no platform fees until the community decides otherwise
- Audited by CertiK and 0xMacro to ensure contract security