Paddle Finance Partners with Kanpai Pandas to Boost NFT Utility

Paddle Finance has partnered with Kanpai Pandas to deliver a seamless and secure ecosystem for NFT and ERC20 token transactions. This collaboration brings innovative solutions to Kanpai Pandas’ community, including an integrated OTC swap portal and NFT-backed loan features. Paddle Finance has shared this groundbreaking news with the crypto community through its social media platform, X.

It’s Official. Paddle and @KanpaiPandas are Partners!
Paddle Finance is a non-custodial liquidity protocol for ERC20s & NFTs. Paddle Finance is building an OTC swap portal directly into the Dojo (formerly PPDEX) so that Pandas can swap ERC20s and NFTs amongst each other! This… pic.twitter.com/2ssEItADvd
— Paddle Finance (@PaddleFi) November 18, 2024

Paddle Finance Introducing a Non-Custodial OTC Swap System

The partnership aims to integrate Paddle Finance’s non-custodial liquidity protocol into Kanpai Pandas’ Dojo platform (PPDEX). The enhanced platform will allow users to swap ERC20 tokens and NFTs directly, eliminating the need for third-party escrow services.

This system supports the exchange of any NFT and ERC20 token within the Kanpai Pandas ecosystem. Community members will earn Paddle Points by engaging in swaps, contributing to their allocation in Paddle Finance’s planned $PADD community distribution.

In addition to the OTC swap feature, the partnership will bring significant updates to the PPDEX platform. Paddle Finance aims to deliver a user-friendly experience tailored to the needs of Kanpai Pandas’ members. The upgrades will make token and NFT transactions faster and more intuitive.

Instant NFT-Backed Loans

Kanpai Pandas users will enjoy exclusive benefits, including 0% fees on swaps and loans facilitated by Paddle Finance. These features are designed to drive engagement within the community and support a more efficient trading environment.

The introduction of instant loans backed by Kanpai Pandas NFTs will enable community members to use their NFTs as collateral to borrow funds while retaining their Panda Points. This option provides additional financial flexibility without forfeiting community engagement benefits.

Kanpai Pandas users will receive an added incentive of a 1.5x multiplier on Paddle Points for transactions involving Pandas NFTs. Additionally, up to 2.50 million $PADD tokens have been reserved for the Kanpai Pandas community, ensuring early adopters benefit from this collaboration.

Source: https://blockchainreporter.net/paddle-finance-partners-with-kanpai-pandas-to-boost-nft-utility/