Honey empowers NFT collectors to engage in decentralized finance across multiple blockchain networks.
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Honey Finance presents an innovative solution for crypto enthusiasts by enabling them to utilize their NFTs as collateral for peer-to-contract loans. Additionally, the platform offers NFT farming opportunities. DAOs leverage this protocol to establish lending markets that connect lenders and borrowers within isolated risk markets (IRMs). The protocol incorporates variable interest rates that are determined by liquidity, while maintaining a Loan-to-Value ratio of 50%. To further incentivize participation, users can mint the governance token $HONEY by staking their NFTs in the platform’s farms.
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