Vera is a decentralized protocol built on top of major blockchains that allows essential financial services for NFTs such as renting, lending, and mortgages. Decentralized protocols are non-custodial, meaning the services never rely on the custody of any middleman or intermediary. $VERA is the original utility token for the Vera network and entered the market on September 23, 2021 as both an ERC-20 and BEP-20 token. $VERA will be used to govern Vera's system of NFT rental/lending and financing/mortgage pools sometime after its mainnet goes live. Users can post $VERA tokens as collateral to raise their borrowing limits for NFT financing/mortgage loans. Those who borrow $VERA or rent $VERA-verified NFTs can also bypass the borrowing/rental fees and get a discount on fees if they post it as collateral. Fees collected by the Vera platform are also used to burn $VERA. The remaining fees are used to pay lenders.
