Article Summary, Automatically Generated By AI
Summary of Fungify
- Fungify consists of two parts: Index and Pools.
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Index:
- Non-custodial marketcap weighted NFT index
- Algorithmic lending protocol
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Features:
- Instant NFT sales
- Immediate NFT-backed loans
- Yield-bearing NFT index token
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Pools:
- Cross-margin money market protocol
- Combines legacy DeFi with NFT assets
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Features:
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About Fungify: Unlocking the Power of Decentralized Finance
Fungify is comprised of two integral components: Index and Pools. The Index is a non-custodial, market capitalization-weighted NFT index and algorithmic lending protocol, enabling instantaneous NFT sales, immediate NFT-backed loans, and a yield-generating NFT index token. Pools is a pioneering cross-margin money market protocol that seamlessly merges the sophistication of traditional DeFi with the capability to leverage NFT assets – both as collateral and a source of yield. As a trailblazing platform, it pioneers the borrowing and lending of NFTs, alongside the borrowing and lending of any other asset type. Pools harmoniously synergizes with the Index by facilitating a lending market for the $NFT token.