The JPEG'd protocol empowers users to utilize NFTs as collateral to generate synthetic stablecoin.
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The JPEG’d protocol introduces a unique feature called the Non-Fungible Debt Position (NFDP), which functions similarly to existing NFT lending protocols. Eligible collections are carefully chosen based on their liquidity and market capitalization. To participate, users deposit their NFTs into a smart contract, enabling them to mint a synthetic stablecoin known as $PUSD. This stablecoin can be utilized for various investment opportunities, all while the user’s NFT remains securely stored on the platform. Users have the option to take on a debt position of up to 32% of the collateral value.
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