Blur and Paradigm Roll Out an NFT Lending Protocol

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The Blur platform has recently introduced the Blend landing protocol for non-fungible tokens (NFTs).

The protocol, created by developer Dan Robinson from Web3-company Paradigm, provides the option of perpetual lending, meaning that loans do not have a predetermined repayment date and can remain open indefinitely until liquidated through a Dutch auction at market-determined interest rates.

As of now, Azuki, Punks, and Milady are the three collections supported by the platform.

With Blend, holders of NFTs can borrow ETH against them without having to sell, avoiding the need to abandon collections and reduce minimum prices.

The smart contracts have been audited by Code4rena and Chain Light, with the results set to be published soon.