usecyan.com - CYAN | Buy now, pay later for NFTs

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Description: Cyan is the first Buy Now, Pay Later service for the Metaverse. Finance your NFT purchase with Cyan, Pawn your NFT or stake ETH into Vaults.

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Buy Now Pay Later (BNPL) is a way of financing an item. Klarna, Affirm, and Afterpay provide BNPL to existing e-commerce websites. BNPL works by breaking up the price into many installment payments. So instead of paying for an NFT all at once on OpenSea, only an initial down payment is necessary. Make four payments in three months on Cyan instead of one large payment on OpenSea.

Cyan is a DeFi protocol that matches users with NFT leverage and those looking for yield by staking Ethereum into Cyan Vaults. When users start a new BNPL plan, they make a down payment of 25% and borrow the rest to buy the NFT. This is a 75% LTV, with which the underlying NFT purchased becomes the collateral for the loan. Cyan Vaults have claims against the purchased NFT in the event of a default.

To pawn an NFT is to use your NFT as collateral to borrow Ethereum. On Cyan, we offer three-month loans against your NFT, with installments paid back every 31 days. You are now able to borrow up to 33% of the appraised value of your NFT. We also offer Flash Pawns, which are 24-hour loans of 50% of the appraised value of the NFT.

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