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DeFi For You is a crypto pawnbroking platform that enables lending by securing crypto and NFT collateral packages in smart contracts. These contracts are released when the loan is repaid or a liquidation threshold is reached. The project aims to become the leading pawnbroking platform in the crypto and NFT space. We have also developed a system for 'Evaluators', who are licensed pawnbrokers, to connect with borrowers in DeFi and offer them crypto loans against digital or physical assets. These pawnbrokers have secure premises to store hard assets. They store the asset, issue an NFT representing it to the borrower, and burn the NFT when the asset is reclaimed. The layout of featured crypto pawnshops on the platform was inspired by the UI of Booking.com. Additionally, an on-chain reputation system for lenders and borrowers has been designed to showcase their transaction history and integrity when using the platform. We have created an NFT marketplace with an integrated NFT Pawn Market. This allows people to list NFTs for sale, auction, or pawn, while buyers can find great deals on repossessed NFTs. In Q1 2022, DeFi For You plans to launch lending pools to enhance its DeFi platform. These pools will enable users to quickly lend and borrow from pools with algorithmically determined interest rates. DeFi For You was founded by Adam Christopher Chaplin, a co-founder of Travala.com (AVA). The project is currently forming partnerships with major pawnbroking companies and banks to expand its reach and bring pawnbroking into the crypto space. Built on Binance Smart Chain, DeFi For You utilizes the native DFY token as a BE20 - BEP2 bridge. The token is used for platform fees, loan currency, repayment currency, and collateral for loans.
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What is DeFi For You?
DeFi For You is a platform that offers asset-based finance and NFT trading services. It allows borrowers to use physical assets, NFTs, and crypto assets as collateral for secure loans. Additionally, forward-thinking entrepreneurs have the opportunity to become licensed partners, expanding their businesses into the crypto space. This partnership offers added value to their customers through secured DeFi lending of stablecoins.
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