What is NiftyApes?
We're reinventing lending, borrowing, and debt markets and we're starting with your JPEGs.
NiftyApes is a system of smart contracts that enables NFT owners to access instant liquidity using the NFTs they own as collateral.
The NiftyApes smart contracts are flexible, and allow lenders to create loan offers with any combination of Principal (e.g. amount offered), Duration, and APR.
Automatic, always-on loan auctions drive towards fair market values of the assets along a risk-adjusted timeline.
Lending via the NiftyApes smart contracts is designed to be a win-win-win game.
- Borrower's Win by having access to instant liquidity and competition for their loan over the loan's lifespan.
- Lenders Win by enabling an infinite number of standing offers and accessible liquidity with minimal opportunity cost or fragmentation. Additionally, the protocol guarantees minimum profitability and originator premiums for the lenders who do the work of locking liquidity, extending open offers, and identifying a market price.
- The Ecosystem Wins with pricing data. As the NiftyApes offer-book fills up, a risk-adjusted pricing model emerges for all served assets. This data is on-chain and accessible by everyone. Additionally, NiftyApes has committed to programmatically donating 1% of protocol fees to the Regen Collective, which funnels capital to regen and public good projects in the ecosystem.
We're making debt a public good, enabling both borrowers and lenders to benefit from market competition.
Lenders can create an infinite number of lending offers, for an infinite number of assets in 2 clicks with zero liquidity fragmentation.
Plus, NiftyApes is building on top of Compound, meaning that even when your liquidity isn't earning interest in active loans, you're still earning an industry-standard APR.
Borrowers get access to instant liquidity to borrow, using their NFTs as collateral with as few as 1 transaction.
Flexibility is the ultimate luxury: these loans auto-upgrade over the entire lifetime of the loan, but borrowers can also refinance without friction or fees!