💸 Blur Dives Into NFT Lending

GM Defiers!

Today we’re covering Blur’s foray into NFT lending, which looks to combine features from peer-to-peer and peer-to-pool models. Meanwhile, decentralized social media protocol Lens is testing a new Layer 3 scaling solution as it gears up for increased activity.

✍️ In today’s newsletter:

• Blur launches NFT lending protocol
• Lens protocol unveils ‘Momoka’ scaling solution

🙏Sponsored:

• What is Metronome?
• What is Core?

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🎬 WATCH

Watch our 5-step guide to trading new tokens safely. And check out our podcast with Nader Dabit, director of developer relations at Aave/Lens.

NFT Leverage

Blur Launches NFT Lending Protocol

TLDR Blur has launched its Blend protocol, which enables traders to buy NFTs without bearing the full cost upfront. Borrowers can either acquire the token in full once they have the funds to repay the loan, or look to sell the asset if it appreciates, pocketing the difference. The protocol also features peer-to-peer lending, allowing users to borrow against their NFTs with specific amounts and interest rates offered by individual lenders.

SO WHAT The Blend protocol marks Blur’s entry into the NFT lending space and its latest move to establish itself as the go-to platform for NFT trading. However, the protocol faces competition from other projects such as NFTfi, PWNDAO, BendDAO, and ParaSpace, which also offer forms of collateralized NFT lending.

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Take out depeg protection cover or stake your USDT today at depeg.etherisc.com

Web3 Social Media

Lens Protocol Unveils ‘Momoka’ Layer 3 Scaling Solution

TLDR Decentralized social media protocol Lens, created by the team behind Aave, has started beta-testing Momoka, a bespoke Layer 3 scaling solution. Beta testers include Lenstube, Orb and Phaver. Momoka is an optimistic Layer 3 data availability layer that processes Polygon transactions off-chain to minimize fees.

SO WHAT Momoka is a significant step for Lens, as it will allow the protocol to better compete with traditional social networks while ensuring that users retain control over their content.

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