Concepts

Core concepts explained in a simple manner

Summary

• Users - who's involved: service providers, asset owners, and renters.
• Warpers - create a rentable copy of an Original Asset (called a Warped Asset), that needs to be integrated into your service. They are also in control over renting business logic.
• IQVerse - represents your service in IQ Protocol. As an IQVerse owner you have the associated IQVerse NFT, that allows to alter its parameters.
• Trustless & riskless renting - the approach where a renter does not need to
  • provide any collateral to get the asset rented;
  • and return the rented asset once it expires, since it works automatically without a blockchain transaction.
• Rental fees - whenever a user rents an asset, the payment costs are split into 3 parts: a part goes to the Original Asset owner who listed it, another part to the IQVerse and the last one to the IQ Protocol.

For basic integration scenario, see steps in integration overview.