Creating time-locked vaults for ERC-721 & 1155 products

Hi Frens,

I met a guy at an Ethereum conference a few weeks ago who runs a project called revest.finance. The idea is that you can use an ERC-721 as a vault that can lock up ERC-20 tokens for a defined time period (expiry date), value point (say x amnt of ghst), etc.

So for example: I lock up a closed portal set it for X weeks to unlock, sell it for a set value I think it’s future value will be. Someone then had the option either trade it again (like you would anything else), or wait for the unlock period to expire. Once unlocked, the difference between initial price and current price can be a profit or loss. (Hopefully all that makes sense)

pros:

  • more portal price discovery, this time around future-like products.
  • liquidity. These are tradable 721s just like what we currently exchange on the bazaar.
  • adaptable to 1155s? Wearables could get really interesting. It could also be highly useful for future wearables options, like when/if the wearables generator ever gets created.
  • creates a product that is deliberately tradable for future value

Cons:

  • increased portal speculation around a main player point entry for players. This could detract from the idea that gotchis should be accessible to a wider audience if prices spiral out of control. (Although this can always be alleviated with additional haunts)
  • unknown effects on the $GHST ecosystem
  • whatever else I can’t think of

I am not sure about the project’s feasibility in locking up 721s or 1155s in the vault, but if we had something similar or were to find a paartner solution I think it’d be a unique app feature.

What do you guys think?

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