MultiversX, a leading decentralized and secure blockchain network, recently began a cooperation with JewelSwap, a peer-to-pool NFT lending liquidity platform. Aiming at increasing the value and utility of NFT, they have deployed several products on the platform and have succeeded in achieving considerable traction. As a result, a value locked of more than 13,000 EGLD tokens was acquired. The products include the ability to offer liquidity in the form of EGLD tokens, known as lending. This leads to the payment of interests to those providing the liquidity, determined by the fees charged by those borrowing loans from the platform. Furthermore, non-fungible tokens, as well as the rest of the MultiversX-based tokens, were included among the newly deployed products. This enabled primitives such as the NFT Mortgage to be developed, allowing the purchase of NFT without the need to pay the entire market price. Lastly, the AshSwap protocol was used by JewelSwap for yield farming. All of this demonstrates the potential of MultiversX and JewelSwap to expand the opportunities related to DeFi.
Maria Anderson
- 2023-05-11
MultiversX and JewelSwap Join Forces to Unlock NFT Opportunities
MultiversX and JewelSwap have recently entered into a cooperation, aiming to expand the options available to DeFi users. With a value locked of more than 13,000 EGLD tokens and products such as the NFT Mortgage, they have achieved considerable traction.
