Ebisu

Ebisu is a comprehensive decentralized NFT finance (NFTfi) protocol that unlocks the liquidity of digital collectibles. It allows users to use their high-value NFTs as collateral to secure instant, permissionless loans in stablecoins or ETH, without having to sell their precious assets.

Named after the Japanese god of fortune, Ebisu aims to bring capital efficiency to the NFT market. By bridging the gap between decentralized finance and digital art, it provides a crucial service for collectors who need immediate capital but want to retain long-term ownership of their portfolios.

The core mechanism of Ebisu is its peer-to-pool lending model. Instead of waiting to find a specific lender, borrowers can instantly draw liquidity from a shared pool based on the floor price of their NFT collection, which is determined by secure on-chain oracles.

The protocol features an innovative "Risk Tranche" system for lenders, allowing them to choose their desired level of risk and reward. Lenders can provide liquidity to safe, blue-chip pools or opt for higher yields by funding pools for newer, more volatile collections.

Ebisu is currently in its "Liquidity Bootstrap" phase, incentivizing both borrowers and lenders with "Fortune Points." These points are accumulated based on the volume of loans taken and the amount of capital supplied to the lending pools.

The platform also includes a "Buy Now, Pay Later" (BNPL) feature, allowing users to purchase NFTs with a fraction of the upfront cost. As the NFTfi sector matures, Ebisu is positioned to be the primary liquidity hub for digital asset holders.

To start earning Fortune Points on Ebisu, you need to engage with the protocol's lending or borrowing mechanisms. Connect your wallet and deposit ETH or stablecoins into the lending pools to start earning a passive yield and airdrop points.

If you own NFTs from supported collections (like BAYC, Azuki, or Pudgy Penguins), you can take out a short-term loan against them. Borrowing activity is heavily weighted in the points algorithm, rewarding users who stress-test the protocol's mechanics.

Additionally, participating in the platform's testnet features, providing feedback, and engaging in the community Discord can earn you specific "Early Supporter" roles that carry point multipliers for the final token distribution.