JPEG'd

The primary goal of JPEG'd is to bridge the gap between DeFi and NFTs by allowing NFT holders to obtain liquidity without selling their assets. This is achieved by enabling users to use their NFTs as collateral to mint stablecoins or Ethereum derivatives.

Users can participate by depositing supported NFTs into JPEG'd vaults to open collateralized debt positions. Additionally, holding JPEG tokens allows participation in governance decisions and access to certain protocol features.

JPEG'd differentiates itself through its peer-to-protocol lending mechanism, support for multiple high-value NFT collections, low borrowing rates, and features like liquidation insurance and trait multipliers for rare NFTs.

JPEG'd employs security measures such as Chainlink Oracles for accurate NFT pricing and offers liquidation insurance to protect users' assets. However, as with all DeFi platforms, users should conduct their own research and exercise caution.

Potential risks include market volatility affecting NFT valuations, smart contract vulnerabilities, and liquidation risks if the value of the collateral falls below certain thresholds. Users are encouraged to understand these risks and consider them before participating.