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Information about defi-for-you

DeFi For You is a cryptocurrency platform that combines pawnbroking and lending services. It operates through smart contracts that secure crypto and NFT collateral packages, releasing them when the loan is repaid or certain conditions are met. The platform aims to become a leading pawnbroking platform in the crypto and NFT world, offering licensed pawnbrokers called "Evaluators" who connect with borrowers and provide them with crypto loans against digital or physical assets. These Evaluators have the advantage of secure premises to store hard assets, issuing NFTs to borrowers that represent the assets and burning them when the assets are reclaimed. The platform also features a user interface inspired by Booking.com for the layout of crypto pawnshops and an on-chain reputation system that reflects the integrity and transaction history of lenders and borrowers. Additionally, DeFi For You has developed an NFT marketplace with an integrated Pawn Market, allowing users to list NFTs for sale, auction, or pawn. The platform plans to launch lending pools in Q1 2022, enabling users to lend and borrow from pools with algorithmically determined interest rates. Founded by Adam Christopher Chaplin, a co-founder of Travala.com, DeFi For You is actively seeking partnerships with major pawnbroking companies and banks to expand its reach in the crypto space. The platform is built on Binance Smart Chain, and its native DFY token serves multiple purposes such as platform fees, loan currency, repayment currency, and collateral for loans.

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