Kona Lend Adds Pudgy Penguins $PENGU as Collateral With 50% LTV
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Kona DeFi (@KonaDeFi) has expanded its lending platform by adding PENGU, the native token of the Pudgy Penguins NFT ecosystem (pudgypenguins), as collateral on Kona Lend.
Borrowers can now deposit PENGU tokens to access loans at a 50% loan-to-value (LTV) ratio, with payouts available in ETH, USDC, or USDT. The move allows holders to unlock liquidity from their NFT-related assets without selling their positions.
Kona is a comprehensive DeFi protocol built on Abstract blockchain by KittyPunch, offering trading, lending, volatility derivatives, and yield products tailored for consumer audiences at the intersection of DeFi and NFT markets.
The addition of PENGU collateral marks Kona's latest effort to integrate NFT ecosystem tokens into its lending infrastructure, giving users more flexibility to leverage their digital asset holdings.
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