Insrt Finance opened The Fractionalized BAYC ShardVault for everyone and prepare to launch Squiggle Vault
Insrt Finance is a NFTFi protocol that enables users to earn returns from NFT assets, without directly holding the assets.
ShardVaults are Insrt's product that enables users to invest in Bluechip NFTs at a low entry price and receive yield in return. ShardVaults provides exposure to the underlying bluechip NFT collection's spot price movement and earn yield from NFTs.
The BAYC Vault allows users to hold Bored Ape Yacht Club (BAYC) tokens and generate yield over time.
Next week, on March 28th, Insrt Finance will launch the Squiggle Vault, which is the their first multi-asset vault.
Taker Protocol opens NFT Empowerment Program
Taker Protocol provides a marketplace and tools for members to lease NFTs without collateral and lend NFTs without risk. This ultimately enables members to build liquidity pools and access instant liquidity against their NFTs.
Users or projects who are interested can fill out this form:
BendDAO enable KODA for borrowing
Leading NFT lending protocol BendDAO added Koda ( Otherdeed ) as a new collateral for borrowing.
Furion prepares to release their testnet V2
Furion is an all-in-one NFT liquidity platform that creates separate & aggregated liquidity pools.
In its testnet V2, users can use leverage NFT lending/borrowing as well as short NFT.
ParaSpace release post mortem for the protocol attack
On 17th March, a hacker tried to launch an attack on ParaSpace - the leading NFT lending platform with over 130m on TVL. The exploit was prevented with the collaboration between the team and BlockSec team with ~2.9k ETH saved.
After this attack, ParaSpace has temporarily paused the platform and will undergo a phased reopening over the next week, prioritizing repayment, supply, liquidation, and then borrowing and withdrawal. The first phase with repay functionality is now live.
First Ordinals Bitcoin collections loan on Arcade
There has been an interesting cross-over between Bitcoin NFTs and Ethereum NFTFi happening over the week - a user used Emblem Vault to bring an Ordinal Punks to Ethereum network and used Arcade to borrow against ETH. This is the first Emblem vault collateral on Arcade.
Spice Finance launch Prologue Leverage
Prologue NFT holders can now get access to Prologue Leverage - whereby users can take a loan with their Prologue NFT and increase leverage all in one transaction.
To do this, Spice Finance introduces Prologue Leverage Vault where yield farmers can deposit funds and satisfy leverage requests from Prologue Holders while earning yield.
Introducing Sodium - Hybrid liquidity NFT lending protocol
Sodium is a new hybrid liquidity lending protocol that uses NFTs as collaterals. It offers instant liquidity and fair valuation for efficient loan fullfillment and high LTV ratio through 3 mechanics:
- Advanced Loan matching mechanic putting lender's request on a queue, allow them to offer with isolated terms for valuation & APR. The open loan request APR increases over time, offering efficient price discovery.
- Cross-collection Lending Pools allows lenders to freely create their own multi-collections pool with their own parameters - similar to Rari Capital's Fuse.
- NFT Lending AMM leverages on both Advanced Loan matching and Cross-collection Lending Pools to provides the most efficient liquidity combination to the borrower.
Reservoir now support Polygon
Reservoir is an NFT marketplace engine, which is essentially a framework that simplifies the NFT market into a comprehensive suite of tools. This grants you the flexibility to harness marketplace functionality and construct cutting-edge NFT applications with ease.
With the latest Polygon support, Reservoir will be able to tap in a thriving NFT ecosystem with big names such as Reddit and MapleStory building on it.
Governance Voting is live on Pine Protocol
Pine Protocol is a two-sided decentralized, non-custodial protocol that facilitates NFT asset-backed loan transactions between lenders and borrowers. Currently there are 44 active pools in the protocol with TVL of ~250 ETH. Pine token went live in February.
With the latest update, Pine holders can now submit, vote on proposals and have their say on the running of the protocol.
Introducing Protectorate - a protocol that provides deep liquidity for NFTs and NFTFi projects
Protectorate Protocol is a Yield Aggregation and Liquidity Routing Platform that aims to deliver the highest possible yield by investing deposited assets into various strategies across NFTFi Protocols.
Protectorate will be built on top of marketplaces, money markets, NFT AMMs, and other NFTFi Protocols. It will enable collectors to turn their NFTs into productive assets. The protocol will abstract away the complexity of DeFi and make the experience far more seamless. Deposited assets will be automatically invested in various strategies to generate the highest possible yield for users.