Fungify
Curated by SignalCrypto P2P lending platform enabling NFT lending and borrowing opportunities.
Overview
Fungify operates in the cryptocurrency peer-to-peer (P2P) lending sector, enabling direct lending transactions between individual borrowers and lenders through the use of blockchain technology. The platform allows users to earn yield by lending their non-fungible tokens (NFTs) and offers exposure to blue chip NFTs via a market capitalization weighted index. It targets NFT holders who are looking to generate income or borrow against their assets, addressing the demand for liquidity while allowing users to retain ownership of their NFTs. Fungify employs Chainlink price feeds to ensure accurate pricing and utilizes a hybrid liquidation model to aim for stable interest rates and mitigate risks for users. The platform is governed by a decentralized autonomous organization (DAO), which encourages community participation in its governance.
Key facts
- Founded
- 2021
- Headquarters
- Nicosia, Cyprus
- Stage
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- Industry
- Financial Technology
- Sector
- Crypto
Business model
- 7 products and services
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- Commercial model
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Contact
- Primary office
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