Pine is a decentralized, non-custodial protocol that facilitates NFT-backed peer-to-peer lending and borrowing, allowing users to leverage their digital assets as collateral without the risk of sudden liquidations. The platform provides on-demand liquidity with competitive loan terms, enabling NFT owners to access funds while maintaining ownership of their assets.
Funding
$4.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
TSFounders
Product
Problem
NFT holders often lack access to immediate liquidity without having to sell their valuable digital assets. Existing NFT-backed loan platforms may expose borrowers to the risk of sudden liquidations due to volatile floor prices. This creates a need for more flexible and secure financing options within the NFT ecosystem.
Solution
Pine Protocol provides a decentralized, non-custodial platform for NFT-backed peer-to-peer lending and borrowing, enabling users to leverage their NFTs as collateral to obtain loans. The protocol offers on-demand liquidity with competitive loan terms and avoids surprise liquidations, allowing NFT owners to access funds while retaining ownership of their assets. Pine's open architecture facilitates integration into various centralized and decentralized NFT platforms, creating a composable NFTfi solution. The platform's features include the flexibility to repay loans early or extend them via rollovers, as well as mortgage-like features for buying and selling NFTs on marketplaces.
Target Audience
The primary target audience includes NFT holders seeking liquidity without selling their assets, as well as lenders looking to earn yield on their capital by providing NFT-backed loans.
Features
- P2P loan marketplace connecting NFT asset owners and liquidity providers
- Support for various NFT collections, including BAYC, Pudgy Penguins, MAYC, CLONE X, and CryptoPunks
- Flexible loan rollovers, early repayments, and mortgage-like features
- Open architecture for integration into centralized and decentralized NFT platforms
- Community-owned DAO (PineDAO) focused on supporting NFT adoption and NFTFi development
- Audited smart contracts by QuantStamp and Nassec