StarkGuardians, the pioneering NFT collection on StarkNet, has launched its new NFT lending and borrowing protocol. This protocol, currently live on the Sepolia testnet, represents a significant step forward in the NFT space. It enables individuals to borrow NFTs in return for cryptocurrencies or vice versa and makes NFTs more accessible and liquid without being sold.
StarkNet is another Layer 2 scaling solution for Ethereum that uses Validity-Rollup, often called ZK-Rollup. This technology accumulates multiple transactions into an off-chain STARK proof and submits it to Ethereum as a single one. It offers a higher number of transactions per second, an elevated speed of operations, and relatively more minor expenses than the Ethereum system with similar security measures.
StarkGuardians’ NFT Collection Aims to Enhance Security and Liquidity on StarkNet
StarkNet has launched a collection of 323 cyber female characters as non-fungible tokens in the StarkGuardians series. These digital assets have been designed to safeguard investors by managing NFT projects and encouraging security advancements in the sector. This new lending and borrowing protocol on StarkNet seeks to unlock the value of those NFTs by enabling users to utilize their NFTs without selling them.
To take part in testing the new protocol, a user has to change the network to Sepolia. This testnet phase is significant as there are new features that can be tested and advanced by developers and users and can make experiments, which, of course, do not involve real money and do not affect the leading Ethereum network.
StarkGuardians allows users to give feedback and ideas so that the platform can be improved in its later stages. Introducing this testnet protocol is a significant step for StarkNet and the overall NFT market, as it demonstrates how blockchain can intertwine with other advanced financial instruments.
