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NFT lending is a growing sector in crypto.
The recent launch of Blend, a P2P perpetual lending platform by @blur_io may lead to innovation in the market: 🧵 (thread)
The recent launch of Blend, a P2P perpetual lending platform by @blur_io may lead to innovation in the market: 🧵 (thread)
❇️ On May 1st, Blur partnered with @paradigm to launch Blend, a P2P perpetual lending protocol that supports NFT collateral lending.
Blend offers two products: NFT "collateralized lending" and "buy now, pay later."
The platform doesn't require an oracle, has no expiration date, is liquidatable, and its interest rate is market-driven.
The platform doesn't require an oracle, has no expiration date, is liquidatable, and its interest rate is market-driven.
Borrowers and lenders don't have to pay any fees to Blur, and Blend's fees are controlled by BLUR holders which can be activated after 180 days.
Blend has some advantages over traditional P2P NFT lending platforms.
The platform allows lending relationships to migrate internally, which enhances efficiency and satisfies user demands through market competition.
The platform allows lending relationships to migrate internally, which enhances efficiency and satisfies user demands through market competition.
Additionally, Blend uses a perpetual flexible model, which improves the liquidity problem for borrowers.
As for user base requirements, P2P lending has a high threshold, but for a major project like Blur, with 2k-20k Blur Daily Traders, it's a perfect match.
As for user base requirements, P2P lending has a high threshold, but for a major project like Blur, with 2k-20k Blur Daily Traders, it's a perfect match.
Data from the platform since launch is impressive, with Blend snatching up over 80% of the market share on its first day, surpassing BendDAO, NFTFi, X2Y2, and other well-established NFT lending platforms.
This bodes well for Blend, as it has the potential to bring lasting attention to the market.
As of May 4th, Blend has already loaned out a total of 15,611 ETH, with 1,233 loan deals in total.
As of May 4th, Blend has already loaned out a total of 15,611 ETH, with 1,233 loan deals in total.
The potential for Blend to boost the BLUR token's value and empower it is great.
While the platform has yet to implement much for BLUR holders, Blend's continued growth could potentially lead to great innovation in the NFT lending market.
While the platform has yet to implement much for BLUR holders, Blend's continued growth could potentially lead to great innovation in the NFT lending market.
Currently, the primary projects in this area are BLUR, LOOKS, X2Y2, and BEND, all of which are already listed on #Bitget @bitgetglobal
Traderse can keep an eye on Blend's progress and have a first-mover advantage on Bitget should the NFT lending market perform well.
Traderse can keep an eye on Blend's progress and have a first-mover advantage on Bitget should the NFT lending market perform well.
❇️ With the launch of Blend, NFT lending may be headed for great innovation.
Bitget already offers trading in the latest NFT lending projects.
It's worth keeping an eye on Blend's progress to take advantage of an NFT lending boom if it occurs.
Bitget already offers trading in the latest NFT lending projects.
It's worth keeping an eye on Blend's progress to take advantage of an NFT lending boom if it occurs.
Bitget offers BLUR trading and other NFT Lending projects.
✅ Stay ahead of the curve and trade with Bitget. bitget.com/en/register?ut…
✅ Stay ahead of the curve and trade with Bitget. bitget.com/en/register?ut…
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