StarkGuardians Introduces the First NFT Lending and Borrowing Protocol on Starknet

StartkGuardians, the first-ever NFT collection on StarkNet, has officially launched the testnet of a new NFT lending and borrowing protocol on StarkNet. It is currently hosted on Sepolia.

? As StarkGuardians, we are excited to introduce the very first NFT lending and borrowing protocol on Starknet!

Our testnet has officially launched, and you can now explore it ?

Whether you’re looking to lend or borrow NFTs, we invite you to join us at:… pic.twitter.com/iAnKRLh9N2

— StarkGuardians (@StarkGuardians) September 7, 2024

Starknet is a Validity-Rollup (aka ZK-Rollup) Layer 2 network that operates on top of Ethereum. It enables dApps to scale massively without compromising security by bundling transactions into an off-chain computed STARK proof.

It achieves this by bundling transactions into an off-chain computed STARK proof. This proof is then submitted to Ethereum as a single transaction, resulting in significantly higher throughput, faster processing times, and much lower costs, all while retaining the robust security of the Ethereum settlement layer.

More About the StarkGuardians & the New NFT Protocol

StarkGuardians is the first-ever NFT collection on Starknet, leading the way with a unique approach to decreasing supply. Now, the collection includes 323 unique pieces. StarkGuardians are distinct cyber female characters developed on Starknet. They aim to safeguard investors by overseeing NFT projects and leading the way in security innovation.

Users can now borrow and lend non-fungible tokens in exchange for cryptocurrencies or other digital assets through the new protocol developed on StarkNet. This protocol facilitates the liquidity of NFTs, unlocking the value associated with the digital assets on StarkGuardians without selling them outright.

Currently, only the testnet protocol has been launched. It allows developers to test and experiment with new features without risking real funds or the main chain.

Source