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According to reports, the NFT lending agreement ParaSpace will charge a fee starting from May 1, 2023, including a 3% fee for APE pledge. This fee will be charged when Claim reward

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According to reports, the NFT lending agreement ParaSpace will charge a fee starting from May 1, 2023, including a 3% fee for APE pledge. This fee will be charged when Claim rewards compound interest, mainly used to pay the gas cost of automatic composite user APE rewards. If profits are generated from the APE pledge fees, ParaSpace will return 50% of the profits to the Yuga ecosystem through supporting community builders, sponsoring community driven activities, gifts, and other forms.

The NFT lending agreement ParaSpace will charge a 3% fee for APE pledge starting from May 1st

– Introduction
– What is ParaSpace and NFT Lending Agreement?
– The Fee Charged by ParaSpace on NFT Lending Agreement
– How the 3% Fee for APE Pledge Works?
– Use of Fees Generated from APE Pledge
– ParaSpace’s Contribution to the Yuga Ecosystem
– Conclusion
# According to Reports, ParaSpace’s NFT Lending Agreement to Charge a Fee from May 1, 2023
Blockchain technology has introduced us to the world of non-fungible tokens (NFTs) that have gained immense popularity and are changing the way we perceive and handle digital assets. The creation and trading of these unique digital assets require secure and reliable platforms, which is where ParaSpace comes in. In this article, we will explore ParaSpace and their newest development, NFT lending agreement, and the fees they will start charging from May 1, 2023.

What is ParaSpace and NFT Lending Agreement?

ParaSpace is a decentralized finance (Defi) platform built on the Binance Smart Chain that provides the necessary infrastructure for asset management, trading, and lending on the blockchain. It allows users to create, store, and trade digital assets, including cryptocurrencies and NFTs, in a secure and transparent manner.
ParaSpace’s NFT lending agreement is an innovative lending product that allows users to leverage their NFTs for liquidity without losing ownership of their assets. By staking their NFTs as collateral, users can borrow assets at a certain interest rate that they can repay to reclaim their NFTs.

The Fee Charged by ParaSpace on NFT Lending Agreement

Starting from May 1, 2023, ParaSpace’s NFT lending agreement will charge a fee to users for using the platform’s services. This fee will be applicable when users compound interest on their claim rewards and will be levied on the automatic composite user APE rewards.

How the 3% Fee for APE Pledge Works?

The fee charged by ParaSpace will be 3% of the APE pledge amount. This fee will be used to pay for the gas costs of automatic composite user APE rewards. The APE pledge is a metric used to measure the commitment of users to the platform, and is calculated based on the number of days the user has staked their APE token.

Use of Fees Generated from APE Pledge

If the fees generated from APE pledge are profitable, ParaSpace has pledged to return 50% of the profits to the Yuga ecosystem. The Yuga ecosystem includes community builders, community-driven activities, and other forms of support that promote and enhance the growth of the Yuga network.

ParaSpace’s Contribution to the Yuga Ecosystem

ParaSpace is committed to contributing to the growth and development of the Yuga ecosystem. By supporting community builders, sponsoring community-driven activities, offering gifts and other forms of support, ParaSpace aims to create a thriving and sustainable environment for digital assets and NFT trading on the Yuga network.

Conclusion

The NFT lending agreement offered by ParaSpace has revolutionized the way users can leverage their NFTs for liquidity without compromising ownership. However, starting from May 1, 2023, ParaSpace will be charging a 3% fee for APE pledge to cover the gas cost of automatic composite user APE rewards. Nevertheless, this fee will only be charged if users compound interest on their claim rewards. It is also noteworthy that if the fees are profitable, ParaSpace will return 50% of the profits to the Yuga ecosystem, supporting community builders, community-driven activities, and other forms of growth.
# FAQs
Q1. What is ParaSpace?
A. ParaSpace is a decentralized finance (Defi) platform built on the Binance Smart Chain that provides infrastructure for asset management, trading, and lending on the blockchain.
Q2. What is the APE pledge?
A. The APE pledge is a metric used to measure the commitment of users to the ParaSpace platform’s services, calculated based on the number of days the user has staked their APE token.
Q3. What is the Yuga ecosystem?
A. The Yuga ecosystem is an environment created by ParaSpace that supports and enhances the growth of digital assets and NFT trading on the Yuga network.

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