Non Fungible Vaults

At Open Dollar, we created a new primitive called NFV, or Non-Fungible Vaults. By using NFTs as proxies for locked collateral, vaults became transferable and no longer tied to a single account. This also allowed users to transfer their vaults via any NFT marketplace, not just our protocol interface.

To highlight the potential value of these vaults—which could hold large sums of money—we designed an interactive SVG that dynamically displayed vault contents, parameters, and the current over-collateralization amount and risk level! Since it was an image, it worked seamlessly across marketplaces, just like any other NFT.

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