NFT as Collateral
Starfish Finance is a multi-chain peer-to-pool NFT financing protocol. Lenders provide liquidity in forms of stablecoins, ETH, and ASTR to the Reserve Vault to earn interest, while NFT holders are able to receive loans through staking NFT as collateral.
The Starfish protocol enables NFT assets from Astar network and EVM compatible chains to be locked in NFT collections based escrow contracts, with a maximum of three months to realize NFT loans.
Initiate an instant NFT loan contract to borrow stablecoins, ETH and ASTR on Astar network
Maintain NFT collateral ratio by repaying borrowed asset anytime
Retrieve the NFT when paying off the NFT loan and its relevant interest
Cross-chain NFT as Collateral
Other than Astar native-chain NFT collections and IP brands, Starfish also supports bluechip NFTs from major EVM networks as collateral to achieve NFT financing.
So...Do I need to bridge Ethereum NFT to Astar network?
No, you do not need to bridge from your NFT native network to Astar network. We make use of Celer's IM framework to update cross-chain price feed data, while your NFT can be safely locked on native chain.
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