StartkGuardians, the first-ever NFT collection on StarkNet, has officially launched the testnet of a new NFT lending and borrowing protocol on StarkNet. It is currently hosted on Sepolia.
🛡 As StarkGuardians, we are excited to introduce the first-ever NFT lending and borrowing protocol on Starknet!
Our testnet has been officially launched and you can explore it now 👇
Whether you’re looking to lend or borrow NFTs, we invite you to join us at:… pic.twitter.com/iAnKRLh9N2
— StarkGuardians (@StarkGuardians) September 7, 2024
Starknet is a Validity-Rollup (also known as ZK-Rollup) Layer 2 network that runs on top of Ethereum. It enables dApps to scale massively without compromising security, by bundling transactions into an off-chain computed STARK proof.
It achieves this by bundling transactions into an off-chain calculated STARK proof. This proof is then submitted to Ethereum as a single transaction, resulting in significantly higher throughput, faster processing times, and much lower fees, while maintaining the robust security of the Ethereum settlement layer.
More about the StarkGuardians and the new NFT protocol
StarkGuardians is the very first NFT collection on Starknet and is leading the way with a unique approach to reducing supply. The collection now includes 323 unique pieces. StarkGuardians are various female cyber characters developed on Starknet. They want to protect investors by overseeing NFT projects and leading the way in security innovation.
Users can now borrow and lend non-fungible tokens in exchange for cryptocurrencies or other digital assets through the new protocol developed on StarkNet. This protocol facilitates the liquidity of NFTs and unlocks the value associated with the digital assets on StarkGuardians without selling them directly.
Currently only the testnet protocol has been launched. It allows developers to test and experiment with new features without risking real funds or the main chain.