NFT
Borrowers can use the protocol to borrow for more than 300,000 NFTs with specified terms. Without any domain-specific expertise, liquidity providers can now get the best returns on their ETH.
We are excited to announce the launch of https://t.co/h44ltfyfZ6 today.
Astaria is a new NFT supported lending protocol pic.twitter.com/PFK5OcZuiP
— Astaria (@AstariaXYZ) May 25, 2023
Co-founded by former SushiSwap CTO Joseph Delong, the platform allows NFT holders to lease their assets to traders who may not be able to purchase a blue-chip NFT in a single transaction.
Astaria’s platform is distinguished by its unique three-actor paradigm including strategists, borrowers and liquidity providers. This concept is intended to separate the need for specialized NFT expertise from financial investments, making the process more accessible to those with less domain knowledge. Liquidity providers provide funds and make a profit, while strategists, who are NFT specialists, determine loan terms.
After months in beta, the NFT lending platform has seen the highs and lows of its industry rivals and plans to increase NFT market liquidity while preserving the interests of lenders and borrowers.
The public beta means greater access for all borrowers and liquidity providers. Borrowers with evaluated NFTs can now explore the numerous loan choices offered on Astaria’s website. This enhanced access is an important milestone in the platform’s progress and demonstrates Astaria’s commitment to providing accessible, innovative financial solutions to a diverse spectrum of NFT owners.
Co-founder and CEO Justin Bram stated:
“The start of our public beta is an important milestone in our journey to reshape NFT lending. We are grateful for the continued support of our community and early adopters and look forward to further refining our platform.”
Astaria is launching a pre-funded vault that will help Upshot with oversight to manage risk and reward alternatives between borrowers and lenders to manage cash flow within the protocol.
DISCLAIMER: The information on this website is intended as general market commentary and does not constitute investment advice. We recommend that you do your own research before investing.
