Honey allows NFT collectors to participate in multichain DeFi.
Chains:
Ethereum
Honey finance allows its users to use their NFTs as collateral on peer-to-contract loans, as well as NFT farming. DAOs use the protocol to create lending markets, which match lenders and borrowers in isolated risk markets (IRMs). The protocol employs variable interests rates based on liquidity, and their anticipated Loan-to-Value ratio is 50%. Their governance token $HONEY can be minted by staking NFTs into their farms.
Try Web3's Most Versatile Multichain NFT API
Sign up for a free Alchemy Account
Discover more web3 applications and developer tools.
Alchemy combines the most powerful web3 developer products and tools with resources, community and legendary support.