Blend is a peer-to-peer perpetual lending protocol that supports arbitrary collateral, including NFTs.
In this dashboard, we will review these new features.
Introduction
Overview
Blend is a peer-to-peer perpetual lending protocol that supports arbitrary collateral, including NFTs. Blend has no oracle dependencies and no expiries, allowing borrowing positions to remain open indefinitely until liquidated, with market-determined interest rates.
Blend matches users who want to borrow against their non-fungible collateral with whatever lender is willing to offer the most competitive rate, using a sophisticated off-chain offer protocol.
By default, Blend loans have fixed rates and never expire. Borrowers can repay at any time, while lenders can exit their positions by triggering a Dutch auction to find a new lender at a new rate. If that auction fails, the borrower is liquidated and the lender takes possession of the collateral.
Blend has been implemented by Blur Core Contributors. In their implementation, some protocol parameters, such as protocol fees, are controlled by BLUR governance.
Blend is a flexible and permissionless floating-rate lending protocol that can support arbitrary collateral with no oracle dependencies, and allows whatever interest rates and loan-to-value ratios the market will bear.
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