Cryptocurrency News

The hoard marketplace goes live on the Ethereum mainnet

As promised in the 2021 development roadmap, Hoarding exchange Today on 26 May, it launched its NXT marketplace on Ethereum MainNet. The marketplace comes with many features and capabilities, including the provision of loans and stakes using NXT as collateral for loans.

Hoard Marketplace is one of two broad categories of services that Hoard provides with its SDK, curating digital goods and simplifying developer-user interactions. NXT for trade, loan, or rent can include in-game items, real estate, digital art, and more.

The marketplace will feature LOAN, a peer-to-peer lending platform, where users can leverage their NXT as collateral to obtain loans in cryptocurrency. Owners of NXT can get these funds to invest more, while lenders will deploy their fixed coins to generate additional income by charging interest.

The original token of the hoard exchange is HRDCoin. HRD holders can place their coins at stake. Users who stake their HRD holdings will qualify to get a portion of their platform fees back as a stacking reward.

With the marketplace going live on the mainnet, users of the hoard can now list their NXTs and purchase other NXTs. Once users list or acquire their NXT, they can take advantage of them as collateral for the loan. Apart from earning their interest income, lenders also qualify to receive NXT in cases of foreclosure.

According to Horde CEO, Radek Zagorowicz, the loan facility on the market is the first of several upcoming NXT functionalities / utilities.

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