🛣️Introduction
Fungify is composed of two parts: Index and Pools.
Index
The Index is a non-custodial marketcap weighted NFT index and algorithmic lending protocol, allowing for instant NFT sales, immediate NFT-backed loans, and a yield-bearing NFT index token. With a small set of elegant primitives, Fungify solves the most challenging problems at the intersection of NFTs and DeFi.
These components seamlessly mesh together to produce the primitives missing from NFT DeFi, finally unlocking the liquidity of the ecosystem.
Pools
Pools is a cross-margin money market protocol that combines the elegance of legacy DeFi with the ability to handle your NFT assets – both as collateral and a source of yield. It is the first platform of its kind to allow both borrowing and lending of NFTs, along with borrowing and lending of any other asset type. Pools synergizes with the Index by facilitating a lending market for the $NFT token.
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