Pine Protocol (PINE)

IDO

Last updated: Nov 17, 2022

Pine Protocol – blockchain infrastructure for asset-backed loans. Pine Platform will function as a decentralized marketplace for lenders and borrowers using non-fungible tokens (NFTs) as collateral for instant permission-less loans; built on top of the Pine Protocol.

Pine Protocol raises $1.5m

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Overview

Project industry	Crowdfunding & Lending
Product type	Protocol
Whitepaper	Open

What is Pine Protocol

Pine is a lending and borrowing protocol built on multiple blockchains to facilitate asset-backed financing.

It enables users to put their assets, represented on-chain via NFTs, as collateral to borrow cryptocurrencies from lenders in real time.

An beta version is live on Ethereum Mainnet.

Support Ethereum NFTs traded on OpenSea as collateral for loans paid out in ETH
The value of NFT is calculated using min(7-day average transaction price, collection floor price) obtained from OpenSea via its API
New loan obligation can be opened only when a live price feed is available from OpenSea
Liquidation is done manually if the borrower fails to settle the loan obligation, i.e. repay the loan and accrued interest, by the end of the loan terms
Lending is only open to PineDAO and a few whitelisted institutional lenders

Features Coming Soon