- It allows you to take loans secured by NFT
- This is a joint project with Dan Robinson and Transmissions
Blur Company announced about the launch of a new project that will become a “revolution in the NFT market”. This is the Blend lending platform. The name is short for Blur Lending.
The new project will allow traders to maximize NFT liquidity by allowing buyers to use collateral to purchase tokens. This should attract new buyers who previously could not afford to buy more expensive collections such as Bored Ape Yacht Club or CryptoPunk NFT.
In a press release, the company writes that Blend will deliver 10x higher returns than current DeFi protocols and opens up more liquidity to NFTs. The new feature provides an attractive opportunity for lenders and borrowers interested in entering the market.
“Any trillion dollar market depends on the scale of financialization”
Blend was developed by Dan Robinson, the inventor of Uniswap. And also a well-known crypto-businessman with the pseudonym Transmissions11. He is a researcher at Paradigm and Seaport’s lead collaborator. He made a big contribution to gas optimization in Blend.
Blend will not charge fees to sellers or lenders. This will allow Blur to quickly expand its presence in the DeFi world. But the fees will be controlled by BLUR token holders. They will appear in 180 days.