DeFiLlama founder launches NFT lending protocol LlamaLend

2022-10-28 13:26:43

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ChainCatcher news, the anonymous founder of the DeFi data website DeFiLlama, 0xngmi, announced the official launch of the NFT lending protocol LlamaLend, which allows borrowers to collateralize NFTs and obtain instant loans in ETH at a fixed interest rate.

Lenders can choose any NFT collection as their accepted collateral, create a liquidity pool, and select the LTV, maximum loan term, and interest rate. Borrowers can choose the loan duration and borrow ETH equivalent to the lowest floor price of the NFT over the past 7 days. To retrieve the NFT, they must repay the ETH before the due date. If the borrower fails to repay the loan on time, the lender can claim the NFT.

It is reported that LlamaLend is primarily used for NFT collateralized loans in the long-tail market, targeting small collectibles, featuring no liquidation, pay-as-you-go, and fixed rates based on pool utilization. (source link)

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DeFiLlama NFT LlamaLend

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