ParaSpace to continue NFT lending as it rebrands to Parallel Finance

Despite rebranding to Parallel Finance for a greater focus on the decentralized finance (DeFi) ecosystem, the nonfungible token (NFT) lending protocol ParaSpace will continue to focus on its core product amid sector woes. 

In a conversation with Cointelegraph, Yubo Ruan, founder and CEO of ParaSpace (now Parallel Finance), explains that the protocol uses a combination of diversified liquidity pools, dynamic loan-to-value ratios, and price-discovery partnerships to mitigate the risks associated with high volatility, which can often result in a lack of bidders on the underlying asset. 

“Despite the market downturn, we believe NFT margin lending remains viable,” said Ruan. ” It serves a…

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