JPEG'd Protocol Implements 400% Interest Rate Increase
JPEG'd Protocol Implements 400% Interest Rate Increase
🏦 Your Loans Just Got Spicy
JPEG'd protocol has executed a significant interest rate adjustment as part of PIP 98:
- Interest rates across all JPEG vaults increased to 400%
- Change effective as of February 25th, 2025
- Follows previous increase to 180% on January 30th
- Protocol strongly urges immediate loan repayment
This represents the latest step in JPEG'd's effort to encourage loan repayment and manage protocol risk. Users with outstanding loans should take immediate action to avoid increased costs.
❗️interest rate change ❗️ Interest rates in all vaults will increase to 400% on Monday. If you are one of the few who has not repaid a loan, please do so ASAP jpegd.io
📢Interest Rate Announcement📢 This is a follow up to “PIP 98: Interest rate increases on all JPEG vaults”. In effort to further incentivise loan repayment — Interest rates in all vaults have been increased to 400% effective February 25th, 2025. Please repay ASAP!
PUNK Auction Update - 6 Hours Remaining
A PUNK NFT auction is currently live on JPEG'd protocol with 6 hours remaining in the bidding period. The auction is taking place at [jpegd.io/auction/119](https://jpegd.io/auction/119). This represents a key opportunity for participants to acquire a PUNK through JPEG'd's decentralized lending protocol. - Current status: Active auction - Time remaining: 6 hours - Platform: JPEG'd protocol - Auction ID: 119
JPEG'd DAO Important Timeline Updates
**Key Dates for JPEG'd DAO Wind Down:** - **February 8, 2025**: All DAO-owned liquidity will be removed - **February 14, 2025**: Final snapshot date for treasury disbursement **Critical Actions Required:** - JPGD tokens *must* be staked by Feb 14 to receive treasury assets - Staking available at jpegd.io/claim The DAO is concluding lending operations and preparing for treasury distribution to stakeholders. All holders should take immediate action to ensure participation in the final disbursement. **Reference**: PIP-101 and PIP-100 provide full details on the wind-down process.
Two New PIPs Live for Voting on JPEG'd DAO Liquidity and Staking
Two significant governance proposals are currently up for vote in the JPEG'd DAO, expiring January 19th, 7:15AM EST: - **PIP-101**: Proposes establishing a timeframe for removing all DAO-owned liquidity - **PIP-102**: Addresses JPGD holdings in the DAO, proposing they should not be staked for treasury assets These proposals follow the recent PIP-100, which set the snapshot date for the treasury uncustody process. *Community members should review and cast their votes before the deadline.*
CULT Token Distribution Update for Milady NFT Vault Users
**Key Updates:** - $CULT tokens have been successfully distributed to eligible borrowers using the Milady Maker JPEG'd vault - Distribution confirmed via Etherscan transaction - Project background: $CULT launched as collaboration between Charlotte Fang and Remilia Corp - Initial presale raised $20.53M at $0.027 per token - Token performance shows 73.7% increase since launch, trading at $0.071 **Context:** The distribution marks a significant milestone for JPEG'd protocol users who provided Milady NFTs as collateral. This development continues the integration of NFT assets with DeFi functionality.