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How does it work ?

The KUMA Protocol accepts to swap regulated NFTs (KUMA NFTs) backed by bonds in exchange of composable interest-bearing tokens (KIBT) based on the metadata of the NFT. A fixed number of KIBT will be minted with parameterized interest rates. The KIBT interest rate can be updated by having a user exchanging its NFT from the same risk category, or when central bank rates decrease.
The KIBT are ERC-20 Interest Bearing Tokens (tokens that pay). They can be used across the broader blockchain ecosystems such as DeFi, GameFi or NFT platforms.
KUMA Protocol Overview