What is the project about?
Pinjam is an overcollateralized DeFi lending protocol that allows for the lending and borrowing of cryptocurrencies.
Lenders can earn interest by providing liquidity in the market. Borrowers, on the other hand, pay interest on the assets they've borrowed.
What makes your project unique?
Pinjam allocates unborrowed funds to blue-chip protocols, generating extra yield for lenders - other than earning interest for just lending their assets to be borrowed.
History of Project
The team (consisting of Joseph Saw, Syahir Amali, and Shawn Benedict) began working on the project around September 2022 and launched the PINKAV token on the KAVA network on June 16th 2023 - the Pinjam Protocol went live on the KAVA network on June 19th 2023, making it the first network in their multichain approach.
What's next for your project?
The Pinjam protocol will be going multichain in the near future with native non-bridgeable Pinjam tokens on their respective networks - paving the way for chain-specific governance and liquidity mining programs.
What can your token be used for?
The PINKAV token can be staked/locked to earn revenue from the Pinjam protocol - which comes from borrowing activity, unborrowed funds being put to work to generate yield, and depending on the network, incentives from their respective network foundations.
