ZED RUN Prepares to Launch its Lending Program

ZED RUN Prepares to Launch its Lending Program

ZED RUN announced "Lending is within touching distance," adding the new feature is "so close you can almost smell its game changing aroma," in a late night Discord announcement Wednesday evening. The project also debuted its new lending guide, which is live at https://guide.zed.run/zed-run-guide/lending/about.

Each stable will hold "Lending Permits" that determine the maximum number of horses a stable can lend out at a given time. Stable owners can "acquire Lending Permits by locking up ZED Tokens." The tokens can then be unlocked by returning the Lending Permit, and one permit is required for each horse that is lent. The Lending Guide notes that "the conversion rate to acquire Lending Permits will be a dynamic measure based on market activity."

Horses can be lent in four-day periods, as determined by the Lending Agreement Period. Any prizes accrued during that period will be split 50/50 between the borrower and the lender, minus the buy in fee, which goes to the borrower. In other words, if $4.50 is won on a $2.50 buy in, the $2.50 buy-in goes back to the borrower and the $2 in profit is split 50/50. Horses cannot be bred while lent to another owner.

There will be a new "On Loan" section of the stable page where stable owners will be able to view the status of their lent horses.

Lending transactions will take place in the new "Lending Marketplace," where borrowers will be limited to a maximum of one borrowed horse at a given time. Eventually, lenders will be able to restrict horses so that they can only be lent to certain parties, but for now, horses placed in the Lending Marketplace are available to everyone. 

More about Zed Run

The NFT horse racing ecosystem, Zed Run replicates the multi-billion dollar equine industry on the blockchain, where horse owners can buy, sell, breed, and race digital horses. Based on Novus Earth, Zed Run horses are made up of four different bloodlines: Nakamoto, Szabo, Finney, and Buterin, all with varying degrees of rarity, scarcity, and purity. 

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice.
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