Background

JPEG'd

JPEG’d is a decentralized lending protocol that allows users to obtain loans using non-fungible-tokens (NFT) as collateral. Loans can be in pETH (the Ether synthetic of JPEG’d) or PUSd (the stable synthetic of JPEG’d) and have a max loan-to-value (LTV) ratio of 70%. In essence, JPEG'd empowers users to leverage their NFTs and unlock liquidity without ever selling. The protocol is governed by the token $JPEG, which oversees, administers, and changes parameters. JPEG'd is completely permissionless, decentralized, and is not controlled by any central entity. JPEG's mission is to bridge the gap between DeFi and NFTs by eventually allowing holders of any NFT collections to obtain a line of credit.

Integrationstwitter

PUNK Auction Update - 6 Hours Remaining

Thu 17th Apr 2025
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
Community article

JPEG'd Protocol Implements 400% Interest Rate Increase

Mon 24th Feb 2025
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.

JPEG'd DAO Important Timeline Updates

Thu 23rd Jan 2025
**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

Mon 20th Jan 2025
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

Mon 30th Dec 2024
**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.

JPEG'd Protocol Governance Updates: Multiple PIPs for Protocol Wind Down

Thu 19th Dec 2024
Several important governance proposals are currently active in the JPEG'd protocol: - **PIP 98**: Voting ongoing for interest rate increases on all JPEG vaults and reduction of debt ceilings to zero - **PIP 97**: Proposes final JPEG to JPGD migration window with fixed end date Voting ends: Dec 20, 2024 5:43 PM - **PIP 96**: Aims to wind down pUSD/pETH lending operations and uncustody treasury Voting ended: Dec 18, 2024 1:58 AM These proposals collectively signal significant changes to the protocol's operations. Community members should review full proposal texts and participate in voting.
dudes