Pine Protocol logo
WebsiteImpossible Finance Launchpad

Pine Protocol (PINE)

IDO

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 industryCrowdfunding & Lending
Product typeProtocol
WhitepaperPine Protocol White Paper 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

  • Loan obligation auto-rollover
  • Loans paid out in different cryptos (e.g. pledge MAYC, get USDT)

Pine Protocol has raised US$1.5 million in a seed round led by Sino Global Capital, Amber Group, and Spartan Group.

Details

IDO (Impossible Finance Launchpad): Nov 17, 2022 - Feb 08, 2023
Token supply: 200,000,000 PINE
Raised: 1,500,000 USD

Legal

Blockchain Platform: Ethereum
Registration year: 2021

Token info

Ticker: PINE
Type: Utility-token
Token standard: ERC-20
Token price in USD: 1 PINE = 0.2 BUSD

Pine Protocol Roadmap

1
Permission -less Borrowing

MainNet BETA launched Nov 2021

2
Financing and Leasing

Pine now, Pay later launched Mar 2022

3
Permission -less Lending

For liquidity providers

Project team

Ho Alex
Ho Alex
Co-founder
Ho Alex linkedin

Social media

Pine Protocol web-sitePine Protocol MediumPine Protocol TelegramPine Protocol LinkedInPine Protocol TwitterPine Protocol Discord

MVP

MVP URL

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