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NODE/03 · Term

DAOlama

An NFT-collateralized lending protocol on TON: users deposit NFTs and borrow TON against them. One of the largest NFTfi services in the TON ecosystem.

Aliases: daolama, dao lama, llama lending

DAOlama (daolama.co, mini-app app.daolama.co) is an NFT-collateralized lending protocol on the TON blockchain. A user deposits an NFT, receives TON as a loan at a fixed rate and term, and gets the NFT back upon repayment with interest. Miss the deadline and the collateral goes to the liquidator (or the lender in pooled mode).

How it works

  1. Connect a TON wallet (Tonkeeper, MyTonWallet, etc.) to app.daolama.co.
  2. Select an NFT from your wallet as collateral.
  3. The protocol shows the available loan amount — this is the LTV (Loan-to-Value, typically 30–60% of the collection’s current floor price).
  4. Accept the terms (interest + duration); the NFT locks in a smart contract and the TON lands in your wallet.
  5. Repay with interest before the deadline — the NFT comes back.
  6. Miss the deadline and the collateral transitions to the protocol/lender and can be claimed via the liquidation auction.

Accepted collateral

DAOlama works with whitelisted collections on TON: TON Diamond, Anonymous Numbers, Telegram Usernames, NOT-Gift NFTs, MAJOR-NFT and other top TON-ecosystem collections. The list grows as floor liquidity on marketplaces (Getgems, Disintar) deepens.

Why use it

  • Don’t sell your NFT, but unlock liquidity. Holding a rare .t.me username? Use it as collateral and pull TON for short-term needs without losing ownership.
  • Leverage on an NFT portfolio. Borrow against one NFT, buy the next with the proceeds — risky if floor prices drop.
  • Short-term borrowing instead of selling into volatility. When the market dips and you need liquidity, borrowing against an NFT is often cheaper than selling at the bottom.

Risks

  • Liquidation on floor-price drops. If the collection’s floor falls below LTV, the protocol may liquidate the collateral before the repayment date.
  • High rates. NFT lending is historically more expensive than mainstream DeFi credit (15–60% APR vs. 5–10% in fiat-stablecoin pools).
  • Smart-contract risk. DAOlama has been audited, but the protocol is young and still evolving.
  • Regulatory. NFT-collateralized borrowing sits in a grey zone in many jurisdictions; tax treatment is unsettled.

For the full walk-through, see DAOlama: NFT-collateralized lending on TON.

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