BNPL is a DeFi lending protocol characterized by banking nodes that puts capital in the hands of the users without collaterals. It’s a revolutionary protocol on the Ethereum blockchain network that aims to narrow the gap between Centralized Finance and Decentralized Finance. CeFi is saturated and its endless requirements only favor certain businesses, especially those with collateral. With DeFi backed BNPL Pay, such requirements are obsolete and unnecessary. It is the future of the financial sector, and will soon replace centralized finance.

It’s no news that with traditional banking systems, there are lots of restrictions. The amount of capital you need for your business is determined by the kind of collateral you are willing to offer. This requirement is a detriment to small and emerging businesses that might not have the kind of collateral that will equal the amount of capital needed for their businesses.

Due to the outrageous demands and embargo credit facilities placed on obtaining loans, there’s minimal competition in the centralized finance space. Therefore, resulting in a lack of innovative ideas. Besides, their interest rates are enormous, which businesses may struggle to pay.

This is what BNPL Pay hopes to appropriate. With the BNPL decentralized network, you can apply for a loan without any collateral. It’s as simple as registering for a banking node through the BNPL tokens bond. Best of all, you have full autonomy, so you can go about operating your business amicably.

BNPL Pay uses a decentralized network of CeFi banking nodes to lend to borrowers. The number of banking nodes determines the number of loans they can give out at a time. It enables anyone to create a banking node, which is used to get loans from lenders on the protocol. Through the banking node, you can also pay your loan back. The system is designed to be conducive for all parties involved.

For some years now, collateralized DeFi lending protocols on the blockchain network have dominated the crypto space. DeFi protocols like Compound have solidified themselves as the leading protocol. However, these protocols don’t offer customers without cash or collateral loans, and this is where they collapsed. Only big businesses can afford the collateral, hampering small businesses.

 In addition, these protocols rely on decentralized autonomous organizations to determine which borrower will get a loan. This is somewhat an embargo because these protocols can’t service a lot of loan applications. With a business structure like this, it simply means that financial autonomy is absent and the market’s decisions are only open to a few institutions.

BNPL recognized these failures in the collateralized lending system, and that’s why they were borne. They believe that the biggest opportunities lie in credits. With a well-designed model, there’s no doubt that the non-collateralized protocol will capture more borrowers.

The non-collateralized protocol allows the banking nodes full autonomy, so their operations aren’t restricted or limited. Lenders are provided full transparency of all the records and important metrics as it regards each banking node. Anyone can set up a node and lend capital, making the process smooth and borderless.

BNPL also has a better capital utilization model than collateralized protocols. These protocols use curved interest models on capitals to make sure that funds are available for future demands. BNPL, on the other hand, invests unused capital into collateralized protocols to generate profits for the lenders. This reduces the interest rates on borrowed funds, and lenders will have more reason to lend BNPL funds. Banking nodes set the interest rates, and of course, there is full autonomy.

BNPL Pay will be distributing a significant portion of its tokens to lenders and liquidity providers. In addition, there will be a 1% supply of airdrops to DeFi users, all of which will be done in Thorstarter.

The revolutionary DeFi Protocol will enable access to its native launch by the most-awaited IDO on Thorstarter followed by sale on Balancer LBP. The Initial DEX Offering is finalized to take place on September 14th. Moreover, the Balancer LBP sale will take place on September 16th. The maximum amount of $BNPL to be allocated is 55 million tokens at a fixed price of $0.96/BNPL token on Balancer. In the light to provide a fair deal to the early adopters, the token is offered to the community at the same price as that of private investors. The tokens will hold no vesting, and therefore will be claimable once the Balancer Sale succeeds.

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