[PRESS RELEASE – New York, USA, November 17th, 2023]

New features include ‘Buy Now Pay Later’, ‘Sell and Repay’, ‘Refinance Lockups’, ‘Flexible Principal’,’Gondi Vaults’, ‘Loan Extensions’, and ‘Flash Actions’

NFT lending protocol Gondi launched V2 of its protocol on November 16th, 2023, providing lenders and borrowers with expanded credit options and increased capital efficiency across the board.

Gondi V1 was launched in July 2023 as a proof of concept for a more capital-efficient credit market for NFT-backed loans. Since then, Gondi V1 has facilitated $15M USD worth of origination including refinancings, $6M USD of TVL and hundreds of loans against the most valuable NFTs.

New features of Gondi V2 include:

• Buy now, pay later (BNPL), allowing the purchase of NFTs using Gondi loans across 150 marketplaces including Cryptopunks native marketplace and Opensea. Collection-level loan offers are used for BNPL increasing the capacity to deploy more capital for lenders.
• Sell & Repay, allowing borrowers to accept buy offers made at other marketplaces or natively at Gondi, to repay the owed amount of a loan and keep the difference.
• Refinancing Lock-ups, creating a more balanced approach between an incoming vs outgoing lender on a loan. Newly originated loans will not be eligible for refinancing for 5% of the remaining loan duration. The same lock-up applies on every refinance done both at a full or partial level where tranches are locked up.
• Flexible Principal, allowing borrowers to choose a partial principal amount of a loan offer.
• Loan Extensions, allowing lenders to seamlessly extend a loan without making any change to the other loan terms
• Vaults, allowing borrowers to bundle multiple ERC-721s, ERC-20s and even ETH into a vault and then borrowing against it.
• Flash Actions – Delegate.cash, allowing users to delegate to a hot wallet. This also allows borrowers to prove ownership and claim airdrops.

The new features, along with core functionalities such as instant and partial refinancing of loans, reinforce Gondi’s position as the NFT lending platform that is the most friendly to borrowers and most efficient