What is Zharta Finance? Zharta Finance is an NFT Lending platform that allows users to use NFTs as collateral to borrow a corresponding amount of ETH. Let’s find out what is special about this project with Weakhand in this article.
Before jumping into the article, everyone can read the following articles to gain more knowledge about NFT Lending:
- What is BendDao (BEND)? Overview of BEND cryptocurrency
- What is Unlockd Finance? Unlockd Finance cryptocurrency overview
- What is NFTfi? Overview of NFTfi cryptocurrency
- What is Arcade xyz? Overview of cryptocurrency from Arcade
What is Zharta Finance?
Overview of Zharta Finance
Zharta Finance is an NFT Lending platform deployed on the Ethereum platform. Users can use NFT as collateral to borrow a corresponding amount of ETH.
Zharta Finance offers 3 levels for borrowers as follows:
- Degen: Allows borrowers to get maximum value from their NFTs in the short term and a higher APR. Normally the LTV is 72.5% and the APR is 35% with a maximum loan term of 7 days.
- Normie: With this level, the LTV level is less than 65%, the APR is also lower at 17.5%, and the loan term is from 7 to 30 days.
- Farmer: Usually for longer term people with longer loan terms from 7 to 90 days, LTV is 45% and APR is 9.5%.
The fact that Zharta Finance offers many different levels helps borrowers have many ways to access their loans. However, at any level, the borrower only has to pay interest during the loan period.
Zharta Finance’s operating mechanism
The operating mechanism of Zharta Finance takes place according to the following steps:
Step 1: The lender (Lender) deposits ETH into the ETH Pool to receive interest.
Step 2: Borrowers deposit their NFTs onto the platform. Borrower has 3 options for its loan: Degen, Normie, Farmer. After selecting the loan level, the Borrower will receive the corresponding amount of ETH during the loan period.
Step 3: Borrower can repay the loan at any time before the maturity date to receive his NFTs back.
Sale: Zharta Finance does not apply a price-based liquidation mechanism, borrowers only need to return the loan before the maturity date. If the loan is not returned by the due date, the borrower has an additional 48 hours called a grace period. They can repay their loans with a penalty fee to get their NFTs back during this time.
After the grace period, if the borrower fails to repay their mortgaged NFT loan, it will be listed for sale on the platform for 48 hours at the listed price for the borrower. If NFTs are not sold, they will automatically be sold to a 3rd party at market price.
What is the difference of Zharta Finance?
In addition to providing many regimes for borrowers. Zharta Finance also uses Upshot and NFTBank to accurately price the value of NFTs in real time.
Core Team
Nuno Cortesao : Co Founder & CEO
- He has worked at NTT DATA – an IT services provider ranked in the top 10 globally as a Consultant since June 2015.
- In December 2018, he moved to Accenture Portugal with many different roles such as: Senior Information Technology Business Consultant, Head of Blockchain.
- In July 2021, he became Co Founder and CEO at Zharta Finance.
Diogo Pires : Co Founder & CTO
- He graduated with a master’s degree in computer science from Instituto Superior Tecnico University.
- He has worked at Aptoide as a Big Data Architect since January 2016.
- After that, he joined AppCoins as a Software Architect in August 2017.
- He moved to Mercedes – Benz in January 2019 as a Software Architect.
- In October 2021, he joined Zharta Finance and is currently CTO at Zharta Finance.
Pedro Granate : Co Founder & COO
- He graduated with a master’s degree in mechanical engineering from Instituto Superior Tecnico University.
- He has worked for Bosch as a Project Manager since March 2016.
- After that, he moved to work at Hovione as Project Manager from September 2020.
- In January 2022, he became Co Founder and COO at Zharta Finance.
Investor
July 20, 2022: Zharta Finance announced its successful call for $4.3M from main investor Greenfield One. There are also other investors such as: Shilling Capital, Possible Ventures,…
Tokenomics
Update…
Information Channel of Zharta Finance Project
- Website: https://www.zharta.io/
- Twitter: https://twitter.com/ZhartaFinance
- Discord:
summary
Zharta Finance is an exciting NFT Lending platform with various borrowing mechanisms for borrowers. Hopefully the information I provide in this article has helped everyone understand a bit about Zharta Finance.