Introduction
About the JPEG'd lending protocol
JPEG'd is a decentralized lending protocol on the Ethereum blockchain that enables non-fungible token (NFT) holders to open collateralized debt positions (CDPs) using their NFTs as collateral. Users mint PUSd (the native stablecoin of the protocol) or pETH (the native Ethereum derivative of the protocol) enabling them to effectively obtain leverage on their NFTs.
The protocol is managed by a governance token, $JPEG, that oversees, administers, and changes parameters to the protocol.
JPEG'd is completely permissionless, decentralized, and is not controlled by any central entity. JPEG's aim is to bridge the gap between DeFi and NFTs and eventually allow any NFT collections, voted by governance, to obtain a line of credit using their NFTs as collateral on the protocol.
Last modified 5mo ago