NFTs are increasingly being used for anything from crypto gaming to social clubs, despite values falling along with the current crypto winter. NFT lending is now profitable and well-liked as a result. signum, a decentralized peer-to-peer DeFi and lending platform for loans backed by NFTs, officially launched today to the public, enabling NFT owners — with varying skills and interests– the ability to unlock liquidity of their NFT collections on the Tezos blockchain.
signum is a peer-to-peer NFT lending platform built on the Tezos blockchain. The platform enables users to use their NFTs as collateral to get loans in XTZ. The platform went live on the Tezos mainnet on 1 October 2022 following 6 months of development.
The platform also allows lenders to use their liquidity to earn attractive premiums in short-term loans, with the added security of claiming NFTs as collateral in the case of default.
signum is led by a team of 3 well-known contributors and creators PureSpider, Matthew Tsirides, and Pierro. PureSpider is well-known for his useful tools in the Tezos ecosystem, for example his batch sender and fxhash-pfp template. He is the Main Developer/Smart Contracts of signum.
Matthew Tsirides is well-known as the creator of Ring Worlds. He is User Interface/User Experience (UI/UX) Lead at signum. Pierro, who is well-known for his People of Tezos pfp collection, handles Concept and Marketing.
Commenting on the launch, PureSpider, Main signum Developer, said:
“We’re proud of our unique service to the Tezos community, which we hope will bridge the DeFi community with the NFT art community.”
signum is a stand-alone platform that utilises a smart contract to securely coordinate loans between two parties.
Pierro, Concept, and Marketing at signum, said:
“Our product aims to provide access to DeFi loan services for people with varying skills and interests which have not previously delved into the Defi world.”
Lenders have a chance to use their idle liquidity to earn attractive premiums, and in the case of defaults, acquire valuable tokens at potentially much cheaper prices. There are no platform fees payable by lenders.
Borrowers can utilise liquidity for servicing immediate needs such as short and long term investment opportunities, real life needs, removing the need to sell a valuable token and removing the need to access funds from vaults for short term needs.
Matthew Tsirides, User Interface/User Experience (UI/UX) Lead of signum, said:
“We are excited to bring our service to the community we have been a part of for so long. It’s a great time to be launching signum.”
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