jpegd

JPEG’d started as a response to the limitations of traditional NFT ownership: holding illiquid, high-value assets with no way to access their value without selling. By applying tried-and-tested DeFi mechanics to NFT collateralization, JPEG’d enables users to borrow synthetic assets like pETH or PUSd using their NFTs as collateral — all without relying on external lenders. This model is known as Peer to Protocol lending, where liquidity is algorithmically managed by the protocol itself rather than a user-to-user marketplace.

A key strength of JPEG’d lies in its robust use of Chainlink oracles to provide fair and secure NFT pricing. This ensures that all collateral is accurately valued, especially for collections with significant market volatility. Supported blue-chip NFT collections include CryptoPunks, Bored Ape Yacht Club, Mutant Apes, Milady Maker, Pudgy Penguins, Fidenzas, Clonex, Azuki, and more. The DAO regularly votes to onboard new collections, allowing the protocol to grow with the evolving NFT landscape.

Users can borrow up to a 70% LTV ratio depending on the collection and position. Through JPEG’d Boosts, they can access higher collateral value. These include the LTV Boost, Traits Boost for rare NFTs, and Cigarette Boost — a nod to the platform’s playful and gamified culture. The max LTV increase from boosts is 10%, which can be critical during market shifts.

A unique feature of JPEG’d is its liquidation insurance, which allows borrowers to reclaim their collateral even after liquidation if they repay the outstanding debt and a small fee within 48 hours. This gives users peace of mind and protects high-value NFTs from permanent loss. The insurance is opt-in and costs a one-time 2.5% fee at the time of borrowing.

JPEG’d also provides an integrated system for passive income. Users can deposit minted pETH or PUSd into Curve Finance liquidity pools and earn yield, or participate in NFT auctions when liquidated assets become available. These open ascending auctions are conducted twice daily, allowing users to purchase blue-chip NFTs below market price.

Power users will appreciate features like whale mode for managing multiple positions, as well as a Telegram bot that tracks their vaults and alerts them about health status, liquidation risks, or boost expirations. With a combination of capital efficiency, security, and innovation, JPEG’d is positioned as a leading protocol in the NFT-Fi space, competing with projects like NFTfi, and BendDAO.

JPEG’d provides an advanced set of benefits and features designed for NFT owners seeking liquidity and yield:

• Peer-to-Protocol Lending: Unlock liquidity instantly without waiting for lenders — borrow pETH or PUSd directly from the protocol.
• High LTV Ratios: Borrow up to 70% of your NFT’s value, with up to 10% extra via boost mechanisms.
• Secure Pricing with Chainlink: NFT values are protected by decentralized oracles for fair, tamper-proof valuation.
• Liquidation Insurance: Protect your NFTs even in liquidation events with opt-in coverage and reclaim rights.
• Boost System: Enhance your borrowing capacity with LTV Boost, Cigarette Boost, and Trait-based valuation bonuses.
• Curve Yield Opportunities: Earn passive income by providing liquidity with your synthetic tokens on Curve Finance.
• Integrated Auctions: Participate in bi-daily NFT auctions and acquire rare assets at potential discounts.
• Whale Mode: Manage multiple NFT-backed positions conveniently and efficiently.
• Notification Bot: Stay informed via Telegram alerts for health, liquidation, and boost expiry status.
• DAO Governance: Influence protocol decisions and new NFT collection listings via the $JPEG token.

Getting started with JPEG’d is straightforward and only takes a few steps for NFT holders:

• Visit the Website: Head over to jpegd.io and click on “Enter App”.
• Connect Your Wallet: Use a Web3-compatible wallet like MetaMask to access the app and dashboard.
• Select a Vault: Choose one of the supported NFT collections you hold and select a vault to borrow against.
• Mint pETH or PUSd: After choosing your NFT and confirming its valuation, mint the synthetic token of your choice.
• Optional Insurance: Opt-in for liquidation insurance during the borrowing process by paying a 2.5% fee.
• Boost Your Position: Navigate to the “Boost” tab to apply LTV, Cigarette, or Trait boosts for higher credit limits.
• Track & Manage: Use whale mode and the Telegram notification bot to monitor your position and receive alerts.
• Earn Yield: Swap your synthetic tokens on Curve or stake them to earn passive income via LP pools.
• Participate in Auctions: Bid on liquidated NFTs during JPEG’d’s twice-daily open auctions.