Following a similar model, JPEG’d offers non-fungible debt positions. The platform, which had a total value locked (TVL) of 4,846 ETH in its smart contracts as of May 2022, lets users collateralize whitelisted blue-chip NFTs like CryptoPunks and borrow a synthetic stablecoin, $PUSd, which is pegged to the U.S. dollar on a 1:1 basis.
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