Introducing Yiedl

I’m thrilled to announce Yiedl, a new Ethereum based non-custodial protocol that enables NFT owners to take out a mortgage on their NFTs or rent out their NFTs.

The Ethereum ecosystem continues to grow. Notably, the DeFi ecosystem is maturing that enables users a lot of financial activities in the crypto ecosystem.

However, the NFT ecosystem is immature compared to the Defi ecosystem. Non Fungible Tokens have been showing its potential of diverse tokenization for digital items. As the NFT market grows, there should be a mature ecosystem around NFT as well as Defi.

Here is where Yiedl comes. it enables,

• NFT owners can rent out their NFTs and earn passive income.
• NFT owners can take out a mortgage by collateralizing their NFTs and that they can leverage the value of NFTs.
• People who have ERC20 tokens can earn interest by lending out their tokens.
• People can lease NFTs, and they can enjoy short term ownership.

You can check details on how they work from the webpage and the whitepaper.
To simplify, Yiedl enables an ecosystem just like the ecosystem around real estate in the real world!

UNLIKE the real estate ecosystem in the real world, Yiedl supports ANY KINDS OF ASSETS!!

Yiedl works Peer-to-peer. So, anyone who wants to use the protocol wish to use or develop can take part in it.
I expect there will be plenty of investment type of NFT possessions enabled by the Yiedl ecosystem.

For NFT developers, to make your NFT applicable to Yiedl, you need to implement ERC2615, a fully ERC721 compatible new ERC token standard.

It’s just the beginning for Yiedl. I’m super excited to be part of the Ethereum economy. If you are interested in developing NFTs or learning more about Yiedl, please don’t hesitate to reach out to me from kohshi@yiedl.com