NFT
The famous non-fungible token (NFT) marketplace called X2Y2 recently unveiled an exclusive update. The company has mentioned that it is launching its version 3. In addition to the respective update, it has also hinted that it will be drafting a new protocol. The function of the latest protocol is to borrow, refinance and lend non-fungible tokens (NFTs).
X2Y2 announces the launch of a protocol specified for NFT loans
While sharing these updates on its official Twitter channel, the platform added that it has been building NFT loans for seven months. In this regard, the company has facilitated more than 11,000 NFT-based loans. The launch of the latest NFT lending protocol is another step in the same direction. The official address of the NFT lending platform is fi.x2y2.io and it has now been officially launched by the NFT marketplace.
The company gave more details about the latest project by saying that X2Y2 Fi plays the role of a proficient module that operates within the X2Y2 ecosystem. According to the platform, the respective protocol has been created in particular to provide professional financial services in the case of NFTs. Moreover, the company believes that the exclusive project will work under its fi.x2y2.io subdomain.
In addition, the company specified that the entire NFT lending, taking into account borrowing, lending and refinancing, will be conducted under the subdomain X2Y2. In the words of the company, this project offers consumers a unique way to generate value from the use of their NFTs.
The popular NFT market also announces the launch of the V3 update with several new features
With the new project and team of developers, the platform will significantly accelerate the release of the latest features. The launch of the X2Y2 Fi comes in parallel with the introduction of the new and improved version 3 of the smart contract. Most importantly in version 3 is the company’s determination to provide an unparalleled consumer experience for both borrowers and lenders.
The latest version brings forth a package of attractive features, taking into account automatic refinancing (expected soon), optimized gas costs and cancellation of loan offers without gas costs. Another feature allows lenders to make loan offers that are accepted for an adjustable loan amount.