The NFT finance sector witnessed a significant milestone as MetaStreet announced a groundbreaking $10 million loan for 60 CryptoPunks, marking the largest NFT loan in history. This loan was financed by over 5,000 lenders across two risk levels, showcasing the growing interest and participation in NFT lending. Additionally, the loan was facilitated using MetaStreet's Liquid Credit Tokens (LCTs), indicating a new phase in NFT finance, often referred to as NFT Finance 2.0. This development not only highlights the increasing liquidity and sophistication in the NFT market but also MetaStreet's role in advancing NFT lending practices, with over $15M of secondary liquidity provided through platforms like CurveFinance and Blast_L2.
MetaStreet announces Proposed Minting of $10 million of LCTs for CryptoPunks https://t.co/hlkuolHQkY
The pendle <> ethena collab is 🤯 Pendle splits up the principle from the yield They then create a marketplace so that folks can bid on the yield Here's a concrete use case: think perps funding is going to be *lower* than everyone expects? Bid up tokenized sUSDe yield (locks… https://t.co/Y2YJV7AcqC https://t.co/ZRqA2aVtP6
There are (69) Punks in escrow on @gondixyz, and (56) are available to be instantly refinanced by any lender 🥂 Current APR on @cryptopunksnfts range from ~9% APR to ~25% APR, and expected durations ranging from 30 days to 2 years Looking for Punk exposure? Take a look👇🏼 https://t.co/7LoDSI8mKd
Metastreet did an 8 figure loan for 60 Punks, financed by ~5K lenders Massive news, alongside the multiple things that happened in the last 24 hours 😅 https://t.co/rIjrOpFonl
This is now the biggest Punk loan of all time 🤯 $10M for a group of 60 CryptoPunks, financed by 5,000+ individual lenders across 2 risk tiers. MetaStreet unlocking new possibilities for NFT lending and pushing the broader NFTfi space forward. https://t.co/Il6cqap9ba
NEWS: @metastreetxyz announced a $10M+ loan for 60 CryptoPunks financed by >5,000 lenders https://t.co/ACIjz5O4DP
What happens when 60 Punks go to Metastreet? A $10 million loan from over 5,000+ lenders. Permissionlessly. It's a thing of beauty really ✨ https://t.co/g3T27uUgZx
🚨 BREAKING: MetaStreet finances $10 million CryptoPunks "mega loan" made possible by its Liquid Credit Tokens (LCTs). The loan incorporates more than 60 Punks, financed by more than 5,000 lenders at different risk levels. https://t.co/HpRmd03QE6
🥵largest NFT loan in history https://t.co/TyMHIq75T1 https://t.co/ngEJaydQUz
ANNOUNCING A $10M MEGA @CRYPTOPUNKSNFTS LOAN MADE POSSIBLE WITH METASTREET LCTs DON'T MISS THE NFT FINANCE 2.0 TRAIN 60 PUNKS, FINANCED BY >5,000 LENDERS ACROSS 2 RISK LEVELS, WITH $15M OF SECONDARY LIQUIDITY IN @CURVEFINANCE & @BLAST_L2 https://t.co/lFoJft68Sp
Yes, on the surface it might look like another casino for points But if you dig a layer deeper, you might notice @ethena_labs x @pendle_fi just created the first scalable crypto yield curve on the futures basis You can now speculate or hedge the CEX basis onchain https://t.co/smxaHzad5M
CryptoPunks remain top G. 20% of the protocol’s volume comes from Punk loans. There’s been $38m in volume to date: • $4.5m active borrow • 10% avg rate • $97k avg size • 435 total loans • 0.5% default rate https://t.co/cc0m8ggszj
CryptoPunks remain top G. 20% of the protocol’s volume comes from Punk loans. There’s been $38m in volume to date: • $4.5m active borrow • 10% avg rate • $97k avg size • 390 total loans • 0.5% default rate https://t.co/4AlLrwRo6S
And right after, he deposited it on @particle_trade This means you can get up to 38x LEVERAGE on @cryptopunksnfts denominated ETH yield #MetaStreetBets anyone? https://t.co/bHsJ5xuaCh
The second-highest @cryptopunksnfts sale happened earlier today! Want to access Punks price exposure without the high upfront cost? Hook Odyssey lets traders long or short NFTs for as little as $10. Check out the next tweet for info on how to get access to Odyssey! https://t.co/q7At7GM1qK
Over the weekend (6) @pudgypenguins loans originated on @gondixyz for a total of 77 wETH of principal ✨🐧✨ APR for each of these loans was 20%, and duration 30 days. 🥂 The Penguins are comfy! Check out offers 👇 https://t.co/l1fWfjaAtD
There is hot demand for @pudgypenguins on Gondi 🐧 Current loan offers include LTV ratios of ~50%-70%, with principal between 8.58 wETH to 10.92 wETH, and APRs as low as 20%. All with Gondi's flexibility of pro-rata interest and instant refinancing ✨ View offers 👇 https://t.co/UbGYudctxy
HAHAHAHA THEY LET US TRADE MEMES ON LEVERAGE