Fungify Overview
- What is Fungify?
Fungify is a platform that acts as a "NFT Bank," allowing users to leverage their NFTs to obtain loans and earn yield. Users can place their NFTs in pools in exchange for pTokens.
- Main Features
- Earn yield by lending NFTsBorrow funds by using NFTs as collateralGovernance controlled by token holdersHybrid liquidation model for stable interest ratesAccurate pricing using Chainlink price feeds
- Blockchains
- Ethereum
Frequently asked questions
The hybrid liquidation model works by adjusting the liquidation price of borrowed assets based on the index price, rather than the price of ETH or USD.
Fungify allows users to sell their NFTs to the index instantly. The platform uses Chainlink price feeds to provide accurate pricing.
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