Astaria Launches Revolutionary NFT Lending Platform
Friday, June 2, 2023
NEW YORK, May 25, 2023 /PRNewswire/ -- Astaria (https://astaria.xyz) is officially launching its long-anticipated NFT lending protocol. Following an extensive closed beta period, Astaria is now public. Borrowers can use the protocol to borrow with customized terms for over 300,000 NFTs. Liquidity providers can now receive best-in-class yield on their ETH without any domain-specific knowledge.
Astaria Launches Revolutionary NFT Lending PlatformAstaria's platform stands out with its unique three-actor model that involves Strategists, Borrowers, and Liquidity Providers. This model is designed to decouple the need for specific NFT knowledge from capital investment, making the process more accessible for those without extensive domain knowledge. Liquidity providers supply the capital and earn returns, while Strategists, who are experts in the NFT space, set lending terms.
The public beta signifies a broadening of access for all borrowers and liquidity providers. Borrowers, whose NFTs have been appraised by Upshot, can now explore the various loan options available on Astaria's platform. This expanded access is an essential step in the platform's evolution and reflects Astaria's commitment to providing accessible, innovative financial solutions to a wide range of NFT owners.
Astaria is launching with a pre-funded Vault with terms supplied by Upshot that will offer a range of risk and reward options catering to users' needs and preferences. The Astaria protocol generates yield from new loans, which is distributed to liquidity providers.
"The commencement of our public beta is a major milestone in our journey to re-envision NFT lending," said co-founder and CEO Justin Bram. "We are thankful for the continued support from our community and early adopters and look forward to further refining our platform."
Astaria invites NFT owners with assets appraised by Upshot to participate in the public beta by visiting https://astaria.xyz to explore their borrowing options. Those interested in becoming liquidity providers and earning yield can also visit Astaria's website to learn more about depositing funds into an Astaria vault.
For additional information, follow Astaria on Twitter (https://twitter.com/AstariaXYZ) for the latest updates.
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SOURCE Astaria Labs
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