DeFi Digest: Zora, uVOL, Ruler Protocol, and Ribbon Finance

Zora, the startup behind the Saint Fame tokenized t-shirts, recently published a white paper detailing how its protocol works. For those that haven’t followed Zora’s development, the startup is creating a non-fungible token (NFT) protocol that enables users to mint, buy, and sell various NFTs on the Ethereum blockchain.

A unique selling point for Zora is that every single one of the NFTs will have the capacity to support a built-in marketplace that follows the NFT wherever it goes. Each NFT on Zora will enable bidders to contribute bids to a buy-side liquidity pool that the owner can act on. This liquidity pool is uniquely tied to the NFT and can accept any ERC-20 tokens as a bid.