NFT loans on GONDI are ADAPTIVE APRs can’t be raised by lenders during a loan, but they can be lowered. Instantly. Take CryptoPunk #6784 - this loan didn’t sit still, it evolved: – 4 Instant Refinances – 5 Renegotiations – 3 Partial Refinances – APR lowered over time from 19.0% → 13.49% Lowering APR is key to growing the NFT lending market to the levels we see in the trad art lending market. GONDI’s instant refinance and renegotiation features can help us get there by allowing borrowers to get the best possible rates at all times and keeping lenders competitive. More happy borrowers = more loans and earnings for lenders. Refinance ≠ Renegotiation – Refinance: another lender lowers APR by a minimum of 10% of the current eAPR – Renegotiation: same parties, manually submitted/agreed to terms to extend/renegotiate the loan. Takeaway: On GONDI, debt isn’t static, it’s adaptive infrastructure. We’re building the adaptive infrastructure needed to bring the digital art market to its next phase of maturity.