Description
Pawn Protocol is a decentralized finance (DeFi) platform that uses blockchain technology to offer cryptocurrency-based loans without traditional credit checks. It allows users to borrow funds by using their non-fungible tokens (NFTs) and other crypto assets as collateral. This innovative approach enables asset holders to access liquidity without selling their investments. The protocol supports a variety of digital assets as collateral, promoting diverse lending and borrowing opportunities. Transactions are secured and automated through smart contracts, ensuring transparency and reducing costs by eliminating intermediaries. Pawn Protocol is open source, non-custodial, and facilitates on-chain lending and borrowing of both fungible and non-fungible assets, contributing to financial inclusion and asset liquidity in the web3 ecosystem.
Pawn Protocol is a decentralized finance (DeFi) platform that uses blockchain technology to offer cryptocurrency-based loans without traditional credit checks. It allows users to borrow funds by using their non-fungible tokens (NFTs) and other crypto assets as collateral. This innovative approach enables asset holders to access liquidity without selling their investments. The protocol supports a variety of digital assets as collateral, promoting diverse lending and borrowing opportunities. Transactions are secured and automated through smart contracts, ensuring transparency and reducing costs by eliminating intermediaries. Pawn Protocol is open source, non-custodial, and facilitates on-chain lending and borrowing of both fungible and non-fungible assets, contributing to financial inclusion and asset liquidity in the web3 ecosystem.
