Borrowing & Lending Incentives Now LIVE!
We are excited to announce with the passing of PIP-3 that incentives are now active during the current Epoch for borrowers and lenders utilising the Pine platform.
208,000 $PINE are set aside to be distributed during each epoch. Users that are actively partaking in the below activities will share the incentive rewards on a proportional basis.
- Users that are borrowing ETH
- Users that have lent out ETH
- Users that have active lending pools open
Protocol incentives will be allocated based on hourly snapshot of borrowing and lending activities on the Pine protocol. Protocol incentives awarded can only be withdrawn at the end of each epoch.
For a full breakdown of the numbers, you can view our whitepaper here.
Example A
If there is a total of 100 ETH borrowed among all users, and User A is borrowing 5 ETH, User A is entitled to 5% of the weekly rewards.
Assuming the users NFT escorwed is also 5%, the user would be entitled to roughly 9,375 PINE a week.
Example B
If there is a total of 100 ETH lent out & permissioned out, and User B is lending out 5 ETH, User B is entitled to 5% of the weekly rewards. In this case User B would be entitled roughly 6,250 PINE a week.
Example C
If there is a total of 100 ETH lent out & permissioned out, and 100 ETH borrowed, and User C is borrowing 5 ETH and then using that 5 ETH to lend out to other users, User B is entitled to 5% of the weekly rewards from both pools. In this case User B would be entitled roughly 15,634 PINE a week.
How to Borrow & Lend
We have prepared guides for users on how to navigate the borrowing and lending processes on the Pine Platform.
Borrowing Guide 👇
https://docs.pine.loans/pine-guides/borrowing
Lending Guide 👇
About Pine Protocol
Pine aims to become the gateway for real yield in NFTfi and the Pine team’s mission is to build technology that allows for asset-backed financing to be conducted transparently and efficiently on-chain. The protocol is a non-custodial decentralized asset-backed lending protocol that allows borrowers to borrow fungible digital tokens from lenders using non-fungible tokens as collateral. Built with an open and composable architecture, the protocol can be integrated easily with any NFT and NFTFI platform.
