StarkGuardians Introduces the First NFT Lending and Borrowing Protocol on Starknet

StartkGuardians, the first-ever NFT assortment on StarkNet, has formally launched the testnet of a brand new NFT lending and borrowing protocol on StarkNet. It’s at the moment hosted on Sepolia.

Starknet is a Validity-Rollup (aka ZK-Rollup) Layer 2 community that operates on prime of Ethereum. It allows dApps to scale massively with out compromising safety 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, leading to considerably greater throughput, quicker processing occasions, and far decrease prices, all whereas retaining the sturdy safety of the Ethereum settlement layer.

Extra Concerning the StarkGuardians & the New NFT Protocol

StarkGuardians is the first-ever NFT assortment on Starknet, main the way in which with a novel strategy to lowering provide. Now, the gathering contains 323 distinctive items. StarkGuardians are distinct cyber feminine characters developed on Starknet. They purpose to safeguard traders by overseeing NFT initiatives and main the way in which in safety innovation.

Customers can now borrow and lend non-fungible tokens in alternate for cryptocurrencies or different digital belongings by way of the brand new protocol developed on StarkNet. This protocol facilitates the liquidity of NFTs, unlocking the worth related to the digital belongings on StarkGuardians with out promoting them outright.

Presently, solely the testnet protocol has been launched. It permits builders to check and experiment with new options with out risking actual funds or the primary chain.