Bored Ape Owner Secures $12,470 USDC Loan Through Cyan Protocol
Bored Ape Owner Secures $12,470 USDC Loan Through Cyan Protocol
馃挵 Ape puts itself to work
A Bored Ape Yacht Club NFT holder used their #7334 Ape as collateral to secure a $12,470 USDC loan through Cyan's lending protocol.
This represents a slight increase from the previous week's largest loan of $11,474 USDC against Ape #2600.
Key highlights:
- Cyan enables NFT owners to unlock liquidity from their digital assets
- Users can generate income from their NFT holdings rather than simply holding them
- The protocol provides financing options specifically designed for the NFT market
The trend shows consistent demand for NFT-backed lending, with Bored Ape holders actively leveraging their assets for capital access.
Largest Loan of the Week! 馃挵 A $12,470 USDC loan was secured against @BoredApeYC #7334 last week. Cyan users don鈥檛 just hold their Apes, they put them to work.
Largest Loan of the Week! 馃挵 A $11,474 USDC loan was secured against @BoredApeYC #2600 last week. Cyan users don鈥檛 just hold their Apes, they put them to work.
馃惂 Pudgy Penguins Holder Borrows $10K Against NFT
A Pudgy Penguins holder borrowed **9,969 USDC** against their NFT #1851 through Cyan's lending platform. This follows a pattern of active NFT utilization, with previous loans including: - 13,651 USDC against Pudgy Penguins #5503 - 4.79 ETH against Pudgy Penguins #7054 **Key developments:** - Cyan now offers loans on Hypurr NFTs from Hyperliquid - Borrowers keep all airdrops and rewards - BNPL for Hyperliquid NFTs launching soon The platform encourages NFT holders to **unlock liquidity** without selling their assets, turning idle collections into working capital.
Cyan Wallet Launches NFT Lending with Airdrop Retention
**Cyan Wallet** introduces NFT-backed lending while preserving users' airdrop and reward eligibility. **Key Features:** - Borrow against NFT collections without losing potential airdrops - Seamless integration with existing lending platform - **Seven independent security audits** backing the platform **Security & Trust:** - Operating since 2023 with established user base - Focus on both security and user experience - Comprehensive audit coverage for asset protection The wallet targets NFT holders seeking liquidity without sacrificing future reward opportunities in the evolving digital asset space.
Cyan Protocol Joins TrueFi Ecosystem
Cyan, a Buy Now Pay Later service for NFTs, has been integrated into the TrueFi ecosystem during Q2. This strategic merger aims to enhance product development capabilities. - Integration completed in Q2 2025 - Focus remains on product excellence - Community call scheduled for Wednesday at 6pm UTC *Join the @TrueFiDAO report call* to learn more about this integration and future developments.
ApeCoin Staking Migration to ApeChain Announced
ApeCoin is sunsetting its mainnet staking operations as part of a planned migration to ApeChain. Key updates: - All staking positions will be automatically freed for migration - New staking system on ApeChain will support Shadow NFTs - Migration deadline: April 15, 2025 - Users must move $APE to ApeChain and re-stake to continue earning rewards - BAYC/MAYC/BAKC Shadows will be supported **Action Required**: Prepare to migrate your staked $APE to continue earning rewards on ApeChain.