“New Features of Gondi V2“
Gondi is giving lenders and borrowers more options with the launch of V2 of its NFT lending protocol. The platform is aiming to improve capital efficiency and expand credit options with this update. New features include ‘Buy Now Pay Later’, ‘Sell and Repay’, ‘Refinance Lockups’, ‘Flexible Principal’,’Gondi Vaults’, ‘Loan Extensions’, and ‘Flash Actions’.
Since the launch of Gondi V1 in July 2023, the platform has facilitated $15M USD worth of origination including refinancings and $6M USD of TVL. Several hundred loans have been issued for the most valuable NFTs.
The new features introduced in Gondi V2 include:
– Buy now, pay later (BNPL) across 150 marketplaces
– Sell & Repay feature for borrowers to repay loans by selling NFTs
– Refinancing Lock-ups for a balanced approach between incoming vs outgoing lenders
– Flexible Principal, allowing borrowers to choose a partial principal amount of a loan offer
– Loan Extensions for lenders to extend a loan seamlessly
– Vaults for borrowers to bundle multiple ERC-721s, ERC-20s and even ETH.
– Flash Actions – Delegate.cash feature for users to delegate to a hot wallet.
“Why it Matters“
With these new features and the core functionalities of the platform, Gondi has worked to establish itself as the most borrower-friendly and efficient lending platform for NFTs. A statement from Seedphrase, an investor and advisor to Gondi, emphasized that these new features have made Gondi V2 the most capital-efficient and flexible NFT lending protocol deployed on the mainnet.
“Gondi and Funding“
Gondi is a non-custodial and peer-to-peer (P2P) protocol that launched in July with significant funding from leading Web3 investors like Hack.vc, Foundation Capital, Dragonfly Capital, Pantera Capital, and others. The $12 million in originations have been focused on blue-chip Ethereum NFT collections.
“Hot Take: Gondi’s Impact on NFT Lending“
Gondi’s V2 launch includes a host of new features designed to make NFT lending more accessible and efficient. With a strong focus on providing capital-efficient options for borrowers and allowing for flexibility in lending, Gondi’s impact on the NFT lending market is poised to be significant. The platform’s continuous underwriting, refinancing, and renegotiation of loans aims to create a transparent, open credit market for NFTs. Gondi’s position as a borrower-friendly and efficient lending platform is reinforced with the launch of V2 of its protocol.
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