Introduction to JPEG'd: Revolutionizing NFT Collateral Loans
JPEG’d stands out as a pioneering decentralized lending protocol that enables users to secure loans by using Non-Fungible Tokens (NFTs) as collateral. This platform supports borrowing in two forms of synthetic assets: pETH (an Ether-based synthetic) and PUSd (a stable synthetic), both of which are proprietary to JPEG’d. The protocol allows a maximum loan-to-value (LTV) ratio of up to 70%, including additional boosts, providing a robust solution for NFT owners to access liquidity without the need to sell their assets.
Controlled by its native $JPEG token, the protocol ensures a decentralized governance structure that manages, adjusts, and sets its parameters. This ensures that JPEG’d remains fully decentralized and independent, free from the influence of any central authority. The overarching goal of JPEG’d is to seamlessly connect the realms of Decentralized Finance (DeFi) and NFTs, ultimately granting credit lines to holders of various NFT collections.
JPEG’d introduces a unique Peer to Protocol lending model, drawing parallels with systems like Maker DAO and DAI. This model facilitates immediate borrowing capabilities and opens up novel avenues for earning yields, specifically tailored for NFT owners.
Seamless Borrowing Experience with JPEG'd
JPEG’d redefines interaction with NFTs by offering an array of user benefits that enhance the borrowing experience:
- Instant Access to Funds: Borrowers can immediately access pETH or PUSd using their NFTs as collateral, eliminating the wait typically associated with asset pairing.
- Consistent Loan Terms: The platform offers perpetual fixed-term loans, ensuring stability and predictability in borrowing conditions.
- Competitive Borrowing Rates: Starting at an annual rate of just 2%, JPEG’d offers some of the most attractive borrowing rates in the NFT lending space.
- Specialized Valuation: Certain NFT collections with unique rare traits are eligible for specialized valuation, enhancing the borrowing power of these assets.
- Robust Security Features: Borrowers benefit from features such as liquidation insurance, which adds an extra layer of security to their investments.
- Optimized User Experience: The platform is tailored for large NFT holders, offering an optimized and streamlined user experience.
- Yield Earning Opportunities: Users can participate in unique yield opportunities through pETH/WETH and PUSd/3CRV Curve pools.
- Real-Time Notifications: A Telegram bot is available to provide users with timely updates on their loan positions.
- Reliable Pricing Mechanisms: The integration of Chainlink oracles ensures that all loans are priced accurately and transparently.
How JPEG'd Works: A Simple Guide to Unlocking Your NFT's Value
- Selecting a Vault: Users start by choosing a vault from a list of supported NFT collections.
- Asset Borrowing and Minting: Borrowers can then mint the synthetic asset of their choice, either pETH or PUSd.
- Asset Conversion or Liquidity Provision: These assets can be swapped for other cryptocurrencies or used to provide liquidity in Curve pools, enabling users to earn yields.
- Peace of Mind: With the pricing of positions securely managed by Chainlink oracles, users can rest easy knowing their investments are safe.
Why Choose JPEG'd?
Choosing JPEG’d means opting for a capital-efficient, worry-free, and convenient borrowing solution that leverages the power of NFTs to unlock new financial opportunities. With its unique blend of features and user-centric benefits, JPEG’d is setting new standards in how we perceive and utilize NFTs in the broader financial landscape.
