TechFlow news — 0xngmi, the anonymous founder of DeFi data platform DeFiLlama, has officially launched an NFT lending protocol called LlamaLend, allowing borrowers to collateralize NFTs and receive instant ETH loans at fixed interest rates.
Lenders can select any NFT collection as acceptable collateral, create lending pools, and set loan-to-value (LTV) ratios, maximum loan durations, and interest rates. Borrowers may choose their loan duration and borrow ETH up to the lowest floor price of that NFT over the past seven days. By repaying the ETH before maturity, borrowers can reclaim their NFTs. If a borrower fails to repay the loan on time, the lender gains ownership of the NFT.
LlamaLend is primarily designed for NFT collateralized loans in long-tail markets—mainly targeting smaller collections—and features include no liquidations, pay-as-you-go terms, and fixed interest rates based on pool utilization.Source
