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Welcome to Honey
Borrow and lend with your NFTs
Latest news
🏦 NFT collateralisation is being tested in our πŸ§ͺalpha program​
βš—οΈ Staking is live ! Stake your NFTs to receive $HONEY
πŸ“‘ Code has been open sourced, feel free to contribute​
Honey Finance is the leading DeFi protocol for NFTs. This decentralised application (dapp) allows users to extract value from their NFTs, without having to sell them, in order to generate yield or mint more NFTs.
Borrowers use their NFTs as collateral to obtain loans, and lenders supply liquidity to earn interest and gain exposure to NFTs.
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Our goal is to bridge the gap between NFTs and DeFi, making sure that each NFT holder can be empowered with the same opportunities and yields as DeFi users.
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NFTs today have a few critical flaws which bottleneck their growth. NFTs are illiquid, lead to unrealised gains, and present their holders with a massive opportunity cost, relative to what the same capital would yield if passively invested in DeFi.
Our protocol offers liquidity solutions for NFTs, and solves the problem of opportunity cost, by allowing users to set their non-fungible assets as collateral on peer-to-contract loans.
Honey can also be used by projects to easily set up token farms. These community farms accrue fees which provide revenue to our DAO, allowing us to reduce protocol fees on lending and borrowing.
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Last modified 2mo ago