Market News- Blur unveils Blend, a peer-to-peer lending protocol platform.
- The protocol was created with Dan Robinson and Transmission 11.
Blur, the non-fungible token marketplace, announced the launch of the peer-to-peer lending protocol known as Blend. The woking platform made to allow traders to maximise NFT liquidity by enabling buyers to supply collateral for his or her token transactions.
The protocol developed with the paradigm’s Dan Robinson, the mind of research in the investment capital firm, and also the pseudonymous research affiliate Transmission 11.
Blur shared a tweet thread concerning the information on the projects and described the way the protocol opens possibilities for lenders and buyers. The protocol enables first time traders to go in the ecosystem who have been formerly priced from the costly NFT collections, like Bored Ape Yacht Club, Loot, and Cryptopunk NFTs.
Blur’s Protocol Enables Perpetual Lending
Based on the project’s whitepaper, it permits perpetual lending, meaning the loans do not have any expiration dates. It enables borrowing positions to stay open indefinitely until liquidated, with market-determined rates of interest.
As reported by the protocol, it enables borrowers to pay back their loans anytime they need. Simultaneously, lenders can pull from their positions by initiating the Nederlander action to locate a new loan provider in a new rate.
The NFT marketplace Blur also pointed out that Blend doesn’t charge any charges from traders and lenders. And will help with growing Blur’s brand integration in to the decentralized finance (DeFi) sector.
Blur may be the protocol, also it doesn’t have any permissions like a floating rate lending protocol. Furthermore, the Blend protocol goes live after Blur, because the season 2 airdrop reaches its finish.
