NFT lending platform Astaria, co-founded by Sushi’s former CTO Joseph Delong, is officially launched to the public.

Astaria, an NFT lending platform co-founded by Joseph Delong, Sushi's former CTO, is now live.

NFT lending platform Astaria, co-founded by Sushi’s former CTO Joseph Delong, has been officially launched to the public. Astaria allows NFT holders to lease their assets to traders who cannot afford to buy blue-chip NFTs in one go. Unlike other peer-to-peer NFT lending protocols, Astaria is utilizing third-party to facilitate its lending market, using NFT appraisal service Upshot as a “strategist” to help liquidity providers enter the market while assisting borrowers in renting assets. In addition, to manage the flow of funds within the protocol, Astaria is releasing a pre-funded treasury, and Upshot will help control the treasury to manage the risk and reward choices between borrowers and lenders. Astaria previously completed an $8 million seed round in June 2022.

Point-to-point lending model is difficult to scale, and using the three-element model helps make the lending process easier. In Discord, there is a bidding and pricing process that happens offline, where users negotiate different loan rates, which can be really cumbersome. Astaria is very borrower-friendly and we do not engage in forced liquidation of any users.

Reference: https://www.coindesk.com/web3/2023/05/25/ex-sushi-cto-led-nft-lending-platform-astaria-rolls-out-to-public/

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