Pixels.so (PIXL)

Pixels.so (PIXL) aims to bridge the gap between decentralized finance (DeFi) and non-fungible tokens (NFTs) to unlock the full potential of digital art, real estate, and metaverse assets. The platform allows users to borrow against their NFTs by putting them up as collateral for a loan. Users can also offer loans to other users on their NFTs. The platform plans to integrate with metaverse projects and NFT marketplaces, allowing instant loan requests. It also plans to allow ERC-721 projects and metaverse-based virtual property to be used as eligible collateral.

There are two borrowing models available on Pixels.so. In the peer-to-peer borrowing model, borrowers put up their NFT as collateral and receive offers from the community. If a loan is accepted, the collateral gets locked in a smart contract, and the borrower receives funding. They can repay or pay down the loan at any time. In the instant borrowing model, users can deposit their NFT and instantly receive up to 25% of the time-weighted floor price. Repayment is flexible, and borrowers can pay down, payoff, or borrow more at any time. The loan is perpetual, but if the NFT’s loan-to-value ratio exceeds 75%, it can be claimed by repaying the loan balance in full.

Besides borrowing against NFTs, Pixels.so also offers the option for users to lend USDC and earn interest in real-time. Lenders can deposit USDC and enter into an NFT-USDC loan contract or deposit USDC in the USDC pool. At the end of the loan term, lenders can withdraw their deposited USDC, plus any earned interest. The platform plans to offer a full suite of innovative products centered around integrating DeFi in the metaverse.