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MetaStreet's Newest NFT Lending Pool: Plutocats on Blast

Blast Season 2 just started and we’re rolling out a new Lending Pool, spotlighting Plutocats – one of the top NFT projects on Blast. Read on about how you can start earning as a Plutocats NFT holder or a lender on MetaStreet!

WTF is Plutocats?

Plutocats isn’t your average NFT collection. When collectors buy a Plutocat, the proceeds go into a Reserve that earns yield in Blast’s native ecosystem and royalties from secondary trades.

The best part? Holders can exit the Plutocats community anytime and claim their pro rata/book value share of the Reserve in exchange. This setup ensures that the value of Plutocats is always backed by real assets (ETH), making it a pretty safe bet.

How the Pricing Works

Plutocats uses a dynamic pricing model that adjusts daily based on demand, ensuring fair and up-to-date pricing. A minimum price at book value is always enforced, which protects existing members from dilution. This means any new Plutocat can only be minted at book value or higher.

Cats, Meet MetaStreet's Dynamic Loan-To-Value (LTV) Ticks

Because of how Plutocats increasing book value/exit price works, it makes unique use of MetaStreet’s new Dynamic Loan-To-Value (LTV) feature to automatically adjust loan terms based on real-time book value for Plutocats.

The book value represents the pro rata amount of ETH in the Reserve for each Plutocat, which accrues yield at about 3.5% APR from Blast yield and royalties from secondary trades. As the Reserve accumulates value, the book value/exit price of each Plutocat increases, dynamically adjusting the LTV ratios. This mechanism benefits both borrowers and lenders by providing real-time valuations that reflect the true value of the assets.

  • Borrowers: Plutocat holders can maximize the amount borrowed by tapping into the real-time value of your assets.
  • Lenders: Enjoy a more seamless lending experience. Loan positions will automatically adjust, so depositors don’t have to keep checking in to optimize loan terms.

Why Lend to Plutocats?

Lending to Plutocats is a smart move because the collection’s value is backed by the Reserve. This backing reduces risk and boosts yield opportunities. With the dynamic LTV feature, both lenders and borrowers can optimize their positions without constantly tracking book value. As an extra bonus, lenders will be able to earn MetaStreet Ascend XP!

Why Should Plutocats Owners Borrow with MetaStreet?

As a Plutocat owner, borrowing through MetaStreet’s lending pools offers several advantages:

  • Unlock Liquidity: Access funds without selling your NFTs, retaining future value appreciation.
  • Maximize Value: Borrow based on real-time asset valuations with dynamic LTV ticks.
  • Flexible Terms: Enjoy loan terms that adjust to market conditions for better financial management and easily extend or roll-over your loan.
  • Low-Risk: The Reserve-backed value of Plutocats minimizes borrowing risk.
  • Earn While Borrowing: Utilize borrowed funds to potentially earn more yield in Blast’s ecosystem.

MetaStreet’s lending pools provide a secure, flexible way to leverage holders’ Plutocat NFTs, maximizing their potential without selling.

Conclusion

Our new Lending Pool with Plutocats on Blast combines the collection’s value-backed setup with MetaStreet’s innovative dynamic LTV ticks – offering a low-risk, yield earning opportunity for lenders and continuous liquidity for borrowers! Borrow or Lend today: https://app.metastreet.xyz/earn