NFT Lending Protocol Gondi Launches V2, Offering New Features and Enhanced Capital Efficiency
New York, USA, November 17th, 2023 – Gondi, a leading NFT lending protocol, has launched V2 of its platform, introducing a range of new features designed to improve credit options and capital efficiency for lenders and borrowers. The new features include ‘Buy Now Pay Later’, ‘Sell and Repay’, ‘Refinance Lockups’, ‘Flexible Principal’,’Gondi Vaults’, ‘Loan Extensions’, and ‘Flash Actions’.
Gondi initially launched V1 in July 2023 as a proof of concept for a more capital-efficient credit market for NFT-backed loans. Since its launch, Gondi V1 has facilitated $15M USD worth of origination, including refinancings, $6M USD of TVL, and hundreds of loans against the most valuable NFTs.
Some of the key new features of Gondi V2 include:
Buy now, pay later (BNPL), which allows the purchase of NFTs using Gondi loans across 150 marketplaces, including Cryptopunks native marketplace and Opensea.
Sell & Repay, which enables borrowers to accept buy offers made at other marketplaces or natively at Gondi, to repay the owed amount of a loan and keep the difference.
Refinancing Lock-ups, creating a more balanced approach between an incoming vs. outgoing lender on a loan. Flexible Principal, allowing borrowers to choose a partial principal amount of a loan offer.
Loan Extensions, enabling lenders to seamlessly extend a loan without making any change to the other loan terms.
Vaults, allowing borrowers to bundle multiple ERC-721s, ERC-20s, and even ETH into a vault and then borrowing against it.
Flash Actions – Delegate.cash, allowing users to delegate to a hot wallet.
In a recent statement, Seedphrase, an investor, and advisor to Gondi, highlighted the significance of the new features, stating, “These new features built on top of Gondi V1 make Gondi V2 the most capital-efficient and flexible NFT lending protocol ever deployed on mainnet.”
Gondi, a non-custodial and peer-to-peer (P2P) protocol, launched in July with $5.35 million in funding from leading Web3 investors such as Hack.vc, Foundation Capital, Dragonfly Capital, Pantera Capital, 6th Man Ventures, and others.
Additionally, Gondi has already facilitated $12 million in originations, including refinances, on blue-chip Ethereum NFT collections. These include CryptoPunks, Chromie Squiggles, Autoglyphs, and more. The protocol has also been audited by top Web3 security firms and auditors such as Quantstamp, 0xFoobar, and Trail of Bits.
From Buy Now Pay Later to Sell and Repay, Gondi’s new features are set to significantly enhance the capital efficiency and flexibility of NFT lending. The protocol continues to establish itself as a leading platform for NFT lending, paving the way for a more efficient and transparent credit market for NFTs.
For more information on the new features of Gondi V2, visit the official website https://www.gondi.xyz. Follow Gondi on Twitter for the latest updates and announcements.
❗Follow us on Twitter to get all the latest crypto news as soon as they're out! 🚀