latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Binance Announces New Non-Fungible Token (NFT) Borrowing Program, Binance NFT Loan

Binance Announces New Non-Fungible Token (NFT) Borrowing Program, Binance NFT Loan
The world’s largest crypto exchange by trading volume, Binance, has released a new non-fungible token (NFT) loan feature.
According to a new Binance announcement, the platform will offer zero gas fees and the ability to borrow Ethereum ( ETH ) without the need to sell assets.

The loan feature aims to cater to those who want quick access to funds but don’t want to part with their NFTs. It uses what Binance calls a “Peer to Pool” mechanism with Binance NFT acting as a loan pool, and the amount of ETH that users can borrow depends on the floor price of their NFTs. Data for the system comes from multiple sources, including oracle service Chainlink ( LINK ) and NFT marketplace OpenSea.
At time of writing, Binance’s NFT Loan feature supports just four well-known collections, but more are expected to roll out soon.
Says Binance,
“Initially available with select high-profile NFT projects such as Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Azuki, and Doodles, the innovative feature introduces the benefits of decentralized finance (DeFi) to the Binance NFT community. More collections are expected to be added in the near future.”
Binance launched its NFT platform in June of 2021 and has steadily been adding features ever since. In March, the crypto exchange launched a beta version of an artificial intelligence-based NFT image generator called “Bicasso.”
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter , Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Juan Manuel Rodriguez/WindAwake
The post Binance Announces New Non-Fungible Token (NFT) Borrowing Program, Binance NFT Loan appeared first on The Daily Hodl . shares this Contents always with License.

Thank you for Share!



Cool to know huh? Read the full Article

Read the full Article:  ⭲ Binance Announces New Non-Fungible Token (NFT) Borrowing Program, Binance NFT Loan

Search about Crypto News


The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


Today Most Popular News

Dokky Bookcase Script