DeFi For You looks to record more partnership deals to bring hard assets to its crypto pawn brokerage platform.
Introducing DFY
DeFi For You (DFY) is a decentralized peer-to-peer (P2P) lending and crypto pawn brokerage platform where users can get a loan against their crypto, Non-Fungible Tokens (NFTs), and hard assets. The platform brings hard or tangible assets to Binance Smart Chain (BSC) through NFTs with verified results.
On DFY, users can set up and develop their lending shops, while the protocol’s partners have the license to store and value hard assets before tokenizing them on the blockchain. DFY offers several benefits for users.
The platform will enable any user to become a lender, targeting feasible borrowers who cannot access finance from banks. What’s more, borrowers gain access to the finance they need without selling off their assets.
Features of DFY
Moving assets into the blockchain allow instant loans and trivial repossession of collateral. In addition, blockchain offers transparency, and DFY is built on blockchain technology.
With this in mind, DFY has been able to solve the problem of slow and insecure transactions in the financial market by offering the best features for users to engage in P2P lending and borrowing globally:
P2P Lending Platform: DFY enables people to leverage their cryptocurrency as collateral for a loan. Essentially, any user can invest in a cryptocurrency and immediately withdraw the cashback as a P2P loan.
Loan Against Your NFTs: Users can also leverage NFTs on top of their crypto holdings as collateral on the platform for a P2P loan.
Crypto Pawnbroking: The P2P lending platform allows users to open an online pawnshop using trusted intermediaries to hold collateral for crypto loans. With this feature, users can enter the crypto space without a bank account.
Physical Asset Collateral: DFY is building a network of licensed and insured evaluators in the United Kingdom (UK) to promote the storage, valuation, and tokenization of physical assets for collateral.
DFY is building the number one P2P economy on BSC and the entire Decentralized Finance (DeFi) market. With P2P lending, NFT Pawn brokerage, and the integration of hard assets on the blockchain, DFY offers users the best of lending and borrowing in the industry.
Innovative Pawnbroking Platform
The pawnbroking platform remains one of the most significant services offered by the DeFi protocol. As we already stated, the platform allows users to set up their crypto pawn brokerage to offer loans against hard NFTs like gold, watches, cars, and many others.
These assets are stored and represented by NFTs through the protocol’s partnership with licensed pawnbrokers in the UK. Smart contracts secure loan transactions via the innovative platform. As such, hard NFTs used as collateral can be trivially repossessed when the borrower defaults on their loan repayments. The platform is straightforward and secure for carrying out P2P lending and borrowing with hard assets.
Anyone can open a pawnshop by signing up for a DFY account, providing the necessary information, and setting up their loan package. In short, the innovation allows users to become their banks in the crypto world as they join the DeFi revolution.
International Pawnbroker Partnerships and NPA Conference
The DFY protocol was presented at the National Pawnbrokers Association (NPA) Conference to connect with top pawnbrokers around the UK, US, and Vietnam.
At the NPA Conference, DFY connected with H&T, the largest pawnbroking company in the UK. They also spoke to an MP in the British Parliament to inquire on membership in their cryptocurrency regulation focus group.
The successful NFA Conference shows that the protocol believes that brand partnerships are key to a successful project. Keeping this in mind, DFY has already secured a partnership deal with Cotswold Fine Jewellery Group. The group owns eight jewelry retail stores, a gold bullion business, and a pawn brokerage. Cotswold is the official partner of DFY, running operations for crypto pawn brokerage in the UK.
Furthermore, the crypto pawn brokerage platform will build a long list of mutually beneficial partnerships for users to move hard assets onto the blockchain. DFY is building partnerships with Pawnbroking firms, Auto garages, Jewelry outlets, Blockchain projects, NFT platforms, Cryptocurrency exchanges, and Global communities.
DFY Making Big Moves
The protocol has already shown huge signs of expanding its unique ecosystem. Recently, DFY announced the NFT bridge between BSC and Ethereum, allowing billions worth of NFTs to flow into its BSC ecosystem. However, no date has been set by the protocol yet.
DFY also announced the integration of Chainlink’s Verifiable Random Function (VRF) and its Price Fee Data to give their entire loan and pawn brokerage service more security and confidence.
These developments showcase the protocol’s intent and determination to build a strong ecosystem across the entire DeFi space. With its P2P lending and borrowing platform, Pawn brokerage, and hard NFT utilization, including the recent integrations and incoming partnership deals, DFY is a credible project on BSC.
DFY is approved by the FCA to build trust and stability with the general public and institutional backers.
Follow the links below to learn more about DFY:
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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