In this announcement, we’re proud to announce that Kyoko’s P2P NFT lending platform has passed its audit by Peckshield.
Here’s what to know:
- Kyoko’s P2P NFT lending platform provides lending pools for both blue-chip and emerging NFT collections.
- Kyoko’s lending platform is more secure with safer lending parameters and a health score.
- Kyoko passed its audit by Peckshield. Report here.
- Mainnet to launch in October 2023.
- Experience Kyoko’s P2P NFT lending platform.
- Learn more about the protocol in the Kyoko Docs.
Dearest Kyokoans, we’re back with great news. In our last community AMA, many of you asked about the status of our P2P NFT lending platform. We’re excited to announce the news here first — our P2P NFT lending platform has officially completed its contract audit by Peckshield!
About Kyoko’s P2P NFT Lending Platform
Kyoko’s P2P NFT lending platform aims to bring liquidity to the traditionally illiquid NFT market. Users with NFTs on-hand may have funding needs, and they can provide their NFTs as collateral to KYOKO’s P2P lending protocol in order to access liquidity. Our upgraded protocol expands inclusivity by introducing support for emerging collections in addition to blue chip NFTs. It also boasts an improved lending risk control model that employs two key risk variables — time-based liquidation and health score liquidation — to construct an effective and diversified risk evaluation mechanism that minimizes lending risk exposure. It was built with $KYOKO token ecosystem participants in mind, and the platform relies on governance votes to add support for NFT collections, define operational and lending parameters, and offers a platform revenue share incentive.
Next Steps for Kyoko’s P2P NFT Lending Platform
Kyoko’s P2P NFT lending platform will remain in testnet for approximately one more month. Testnet can be found on our official site at https://ptpv2.kyoko.finance/. Bonus XP in our Kyoko Odyssey event can be earned by testing the platform. Follow the instructions in our P2P NFT lending platform guide.
In mid-October 2023, Kyoko’s P2P NFT lending platform will be released on mainnet. Given the current lack of liquidity in the NFT market, we will postpone our protocol launch event until market sentiment begins to return. Keep an eye out for specific details in future announcements as we get closer to the launch date.
Well, that’s it for now, Kyokoans. Bear markets are for building, and that’s exactly what we’re doing! We appreciate the support of each and every one of you.
Kyoko addresses the most challenging issues in Web3. Kyoko’s cross-chain asset lending platform solves the persistent issues limiting the GameFi market, including the rising cost of entry and siloed in-game assets across different blockchains. Kyoko’s P2P NFT lending platform expands inclusivity and access to liquidity for NFT projects and holders through its decentralized fixed-rate NFT lending protocol. The $KYOKO token launched in April 2022.
Follow Kyoko at the links below to stay up to date on upcoming events, releases, and news: