Builders Spotlight: Lend and borrow EGLD and other MultiversX assets in NFT-based DeFi use cases via JewelSwap.
11 May 2023, 12:33
Builders Spotlight: Lend and borrow EGLD and other MultiversX assets in NFT-based DeFi use cases via JewelSwap
JewelSwap has managed to deploy multiple products on MultiversX in a relatively short period of time, amplifying NFT utility and value and expanding DeFi opportunities available on our network.
Their important additions to our ecosystem have quickly gained traction, consequently capturing a large TVL level of over 13,000 EGLD. Their most used product allows users to supply liquidity with EGLD, popularly referred as lending, and earn interest on fees paid by loan borrowers.
They have expanded the lending protocol to include NFTs and other MultiversX tokens, which facilitated more primitives to be built on top, such as NFT Mortgage. It makes it possible to buy a non-fungible token without having to pay the full market price, borrowing the remaining amount and covering it later on.
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