The famous non-fungible token (NFT) marketplace called X2Y2 has recently disclosed an exclusive update. The company has mentioned that it is launching its version 3. In addition to the respective update, it has also pointed out that a new protocol will be established by it. The function of the latest protocol will be the borrowing, refinancing, as well as lending of non-fungible tokens (NFTs).
X2Y2 Announces Launching a Protocol Specified for NFT Lending
While sharing these updates on its official Twitter channel, the platform added that it has been operating on building NFT loans for up to seven months. In this respect, the firm has facilitated more than 11,000 NFT-based loans. The launch of the latest NFT-lending protocol is a further step in the same direction. The official address of the NFT-lending platform is fi.x2y2.io and it has now been formally launched by the NFT marketplace.
The company provided more details about the latest project by saying that X2Y2 Fi plays the role of a proficient module that operates within the ecosystem of X2Y2. As per the platform, the respective protocol has particularly been established to provide professional financial services in the case of NFTs. Moreover, the firm is of the view that the exclusive project will operate under its subdomain fi.x2y2.io.
In addition to this, the firm specified that the entirety of the NFT loan operations, taking into account borrowing, lending as well as refinancing will be carried out under the subdomain X2Y2. In the words of the company, this project will offer a unique way for consumers to generate value with the use of their NFTs.
The Popular NFT Market also Declares Launching Its V3 Update with Several New Features
With the new project as well as its team of developers, the platform will substantially expedite the latest features’ release. The X2Y2 Fi’s launch comes in parallel to the introduction of the new and upgraded version 3 of the smart contract. The chiefly important thing in version 3 is the company’s determination to offer a matchless consumer experience for borrowers and lenders both.
The latest version brings forth a package of compelling features taking into account auto refinance (that is expected soon), optimized gas fees, and cancellation of loan offers without any gas fees. Another feature permits lenders to make loan offers to be accepted for an adjustable loan amount.