This DeFi Platform allows NFTs as Payment Security for Loans

ETNA Network, a one-stop shop and a hybrid network for crypto assets plans to make NFTs real and tangible wherein you could use NFT as payment security. One advantage of being an ETNA holder is to be granted loans with zero interest using the DeBank dApp. DeBank is a lending and borrowing app that was launched last month on the Binance Smart Chain. With this announcement, expectations are now high on DeBank being the first lending platform that accepts NFT as a guarantee for loans. It’s secured and the most user-friendly app in the crypto world.

What is DeFi and how ETNA network works

Decentralized finance is a spiraling part of the crypto industry and people know it as DeFi. The scope of DeFi is bigger than crypto’s coverage. This system uses a decentralized technology eliminating the use of traditional banks and brokerages such as financial services or products. DeFi becomes the financial institution without a need for a middleman or intermediaries.

ETNA Network created the finest combination of the two largest DeFi type applications on to the Binance Smart Chain network. ETNA offers a lending and borrowing feature which houses DeBank. There’s also a hybrid crypto marketplace that is a combination of the traditional liquidity DEX protocol and a Broker-Buyer type trading system. ETNA chose BSC which uses a proof of stake consensus mechanism, this makes transactions much faster with cost-effective gas fees.

With continuous progress and innovation, ETNA Network is also trying to make a noise in the gaming community by creating video games infused with cryptocurrency. Now, your game assets will be turned into cryptocurrency making it more exciting and evident, this is a real game-changer. This will also inspire game creators to upgrade their gameplay and interactions.

As NFTs turning digital arts and a lot more into profit, this strategy will bring collectors, creators and investors together. In addition, the ETNA team is planning to create a mobile wallet app that will be cost-effective and be integrated into all major blockchains. This upgrade will potentially move ETNA up a notch as the features will significantly benefit its users across all boards.

ABOUT THE AUTHOR See More

Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.

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