NAP is a framework for the stable operation, development and improvement of real-asset backed loan services in the ELYFI protocol. ELYFI provides a Crypto Asset Loan Service using NFTs based on real assets as collateral. In order for verified lending companies to use this function, the NFTs to be used as collateral must be recognized as a valuable collateral by ELYFI Governance. The lending companies can request NFT verification through this forum. Then, the community members may review and discuss proposals that lending companies post, and leave comments. These comments will be used as a reference by voters when they decide whether the NFT can be used in ELYFI or not by voting for the proposals. As such, the NAP framework enables stable operation of the ELYFI protocol through clear standards, proper procedures and open participation.
All NFT Approvement Proposals and their status are archived in the NAPs repository.