Overview
JPEG’d is a decentralized finance (DeFi) protocol that facilitates lending by allowing users to leverage their NFTs as collateral. By depositing NFTs from supported collections, users can borrow pETH or PUSd, thereby unlocking liquidity without selling their digital assets. The protocol is governed by the $JPEG token, which oversees and administers various parameters within the system.
Lending Mechanics
JPEG’d employs a peer-to-protocol lending mechanism, eliminating the need for direct lender-borrower matching. This model ensures that users can access loans instantly, enhancing capital efficiency. The protocol supports a maximum LTV ratio of 70%, which can be increased through specific boosts. Borrowers can choose between pETH, a synthetic Ether, and PUSd, a stablecoin, depending on their liquidity needs.
Supported NFT Collections
The protocol supports several blue-chip NFT collections, including:
- CryptoPunks
- Fidenza
- Autoglyphs
- Chromie Squiggles
- Ringers
- Bored Ape Yacht Club
