- Linking traditional TradeFi borrowers with DeFi lenders
- Uncollateralized lending
- Industry-leading sustainable yields
- Mainnet live in November
- Audited by Hacken CyberSecurity Services
- ImmuneFi White Hat Bounties launching soon
The BNPL Pay Protocol will help real-world borrowers secure loans from the blockchain with its innovative network of decentralized banking nodes
Uncollateralized credit markets are valued in the trillions. Now, real-world borrowers have easy access to the abundance of capital in the decentralized finance (DeFi) space.
A recently launched project, BNPL Pay, is enabling this innovation by connecting DeFi with centralized finance (CeFi), known as DeCeFi.
The BNPL Pay Protocol is a set of decentralized banking nodes that are built to service this huge, virtually untapped sector.
With the likes of 0xVentures, Qi Capital, Clee Capital, various ThorChain VCs and TheCryptoDog backing them, it’s no wonder this innovative project has been catching people's eyes recently.
Uncollateralized loans have always presented issues when it comes to blockchain lending. BNPL Pay’s innovative protocol design addresses these issues with a network of decentralized banking nodes that are incentivized to perform and compete for total value locked (TVL).
After the platform launch in November, BNPL Pay protocol users will be able to :
- Lend: Lenders are able to take advantage of the sustainable yields offered in the traditional finance space by lending digital assets to any one of the nodes on the protocol.
- Borrow: Borrowers are able to apply for a loan from any one of these banking nodes directly via the BNPL Pay app.
- Stake: Stakers will be able to stake BNPL tokens in a node as insurance in exchange for a share of the interest.
- Operate: Anyone can start a banking node by bonding a minimum requirement of BNPL tokens.
In the last few years, the lending space in crypto has exploded. DeFi cryptocurrency platforms such as Aave and Compound have led the way and grown themselves into multibillion dollar protocols. BNPL believes the largest opportunity is yet to come: servicing the unsecured lending space. As of today, other DeFi protocols have missed the largest opportunity which is unsecured loans of traditional credit markets.
Currently trading on SushiSwap and MEXC Global, the BNPL token is the governance token at the heart of the protocol. It is set to have multiple utility functions including bonding to start a banking node and staking banking nodes as a form of insurance in the event of loan default.
The BNPL Pay App launched last month with Sushi LP Staking feature. The MVP banking node is due to go live at the end of November 2021.
For further information please contact the BNPL Pay team below: