Honey allows NFT collectors to participate in multichain DeFi.
What is Honey Finance?
Honey finance allows its users to use their NFTs as collateral on peer-to-contract loans, as well as NFT farming. DAOs use the protocol to create lending markets, which match lenders and borrowers in isolated risk markets (IRMs). The protocol employs variable interests rates based on liquidity, and their anticipated Loan-to-Value ratio is 50%. Their governance token $HONEY can be minted by staking NFTs into their farms.
