Now it is possible to be credited on a Binance secured in the form of NFT

The marketplace of non-interchangeable tokens on the Binance has introduced the possibility of crediting cryptocurrencies secured by NFT. This was reported on the exchange site.

Details about this

Now on the marketplace, you can use collections such as Azuki, Doodles, etc. for collateral. At the same time, you can take only Ethereum on credit. However, then the list will expand, both among acceptable NFTs and cryptocurrencies.

At the moment, the interest rate on the loan reaches 3.39% per year. At the same time, the ratio of credit to the price of tokens fluctuates. It is somewhere between 40% and 60%. Payment for gas in the Ethereum network is not required at the moment.

A representative of Binance commented on this opportunity to The Block. He said that loans allow creating a new format of liquidity for owners of non-interchangeable coins. Thanks to this, they can participate in the market without selling their precious NFT.

Earlier, the crypto exchange made an announcement on the introduction of Bitcoin Ordinals, including their marketplace. Integration is expected any day now. This is done thanks to the unique and innovative capabilities of the project.

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