# Introducing Gondi V2

GONDI is a decentralized non-custodial NFT lending protocol engineered to enable the most capital efficient loan primitive and credit market for NFTs. GONDI V2 is the most composable and flexible defi primitive. GONDI loans enable continuous underwriting, allowing any outstanding loan to get refinanced, creating a more dynamic and liquid ecosystem.

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**GONDI V1 Outstanding Loans: No action needed.** Loans originated on GONDI V1 will be supported until all have been closed. All new loan offers and new loan originations starting November 16th, 2023 will be for GONDI V2.
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#### **Welcome to** GOND&#x49;**. NFT Lending. Reimagined.** <a href="#welcome-to-gondi.-nft-lending.-reimagined" id="welcome-to-gondi.-nft-lending.-reimagined"></a>

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**Borrower Benefits**

1. Use your NFTs to borrow WETH or USDC.
2. Interest accrues only based on outstanding duration.
3. No oracle or sudden liquidations.
4. Constantly improving loan terms with no cost or additional work. Lenders automatically refinance your loan given new loan terms are strictly better for you.
5. Unwind your loan by selling your collateral on GONDI to repay your loan and keep excess proceeds.
6. Receive loan renegotiation offers from current and future lenders, expanding your options to the entire market.

GONDI loans are cheaper, more flexible and require less work.

**Lender Benefits**

1. Boost your capital deployment: originate new loans, instantly refinance existing ones, and participate in open-market renegotiations.
2. Underwrite loans at your own pace, seizing opportunities in new loans or refinance existing ones.
3. Flexible loan renegotiations with customizable fees to any outstanding loan, including your own.
4. Optimize your budget management by creating collection offers with specific loan capacities.
5. Limited liquidity? Opt for tranche refinancing to refinance just a portion of a loan.

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