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We are proud to announce that JPEG’d is live on the Kovan Network. Users can open collateralized debt positions (CDPs) using Cryptopunks as collateral on the Kovan network.
After depositing collateral, users can mint PUSd, a stablecoin, and use that proceeds to essentially obtain liquidity on their non-fungible tokens. More details on how the lending protocol works, oracles, insurance etc. can be found in this post.
Our launch on the Kovan Network signifies an official product launch for the JPEG’d protocol.
DeFi is the Future of France and JPEG’d is Paris.
