Rentfuse has launched on the Neo N3 TestNet with a demo release of Fusekind Bits NFTs, and is hosting a contest to test the protocol. The contest began at 9:00 p.m. (UTC) on Sunday, Feb. 27, and the goal is for users to complete a lend and borrow cycle using the Rentfuse protocol.
Rentfuse is a protocol that enables NFT owners on Neo N3 to rent out their assets while maintaining ownership control. It allows borrowers to use an NFT for a predetermined period of time in exchange for GAS, without the owner relinquishing custody of the asset.
To participate in the contest, users must connect their NeoLine, O3 Wallet, OneGate, or Neon Wallet to the Neo N3 TestNet, and then obtain TestNet GAS from the Neowish N3 NEO and GAS faucet. Users can then visit www.fusekind.com to mint one of three Bits NFTs: Hopper, Dreamer, or Keeper.
Rentfuse is a protocol that enables NFT owners on Neo N3 to rent out their assets while maintaining ownership control. It allows borrowers to use an NFT for a predetermined period of time in exchange for GAS, without the owner relinquishing custody of the asset.
To participate in the contest, users must connect their NeoLine, O3 Wallet, OneGate, or Neon Wallet to the Neo N3 TestNet, and then obtain TestNet GAS from the Neowish N3 NEO and GAS faucet. Users can then visit www.fusekind.com to mint one of three Bits NFTs: Hopper, Dreamer, or Keeper.
When a participant either rents or lends a Bits NFT, they will receive one of three Bits in return. Users can choose to rent or lend NFTs for as long as they please, with a minimum time frame of one minute.
To rent or lend the Bits NFTs, the participant must then visit www.rentfuse.com and log in with the wallet that was used to mint the initial Bit NFT. Then, select the "Lend" button, input the NFT token ID that can be copied from the Bit NFT after it is minted, and input the rent amount, duration, and collateral amount.
The more cycles that participants complete, the higher their "Bits score," tallied according to the number of Bits NFTs owned. Bits scores at the end of the event will determine the winners, with the total Bits supply limited to one million.
The contest is tentatively planned to run for two weeks, although there is no defined end date at time of press.
