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Pinky Protocol

A peer-to-peer collateral-free NFT lending protocol that leverages account abstraction to allow true ownership of the rented NFT for the borrower while suppressing the liquidation risk for the lender.

Pinky Protocol

Created At

ETHGlobal Lisbon

Winner of


🥇 The Graph — Best Use


🏆 ETHGlobal Lisbon Finalist

Project Description

Pinky is a protocol that facilitates the lending and borrowing of NFTs, providing a peer-to-peer solution without the need for collateral from the borrower. Our platform enables users to lend their NFTs while securing their loans through a plugin integrated into the borrower's smart contract wallet, eliminating any risk of liquidation.

Lenders can list their available NFTs on the Pinky platform, specifying a daily price and a specific duration. On the other hand, borrowers can choose from the available NFTs and select a borrowing period. Once the borrowing process is completed, our platform adds a plugin to the borrower's wallet, preventing the transfer of the NFT. The borrower pays the interest upfront at the time of borrowing.

Once the NFT is in the borrower's wallet, they have full control over its use, whether it's for token-gated content or other specific purposes. However, the NFT cannot leave the borrower's wallet during the borrowing period, ensuring the security and ownership of the NFT during that time.

Pinky offers lenders great flexibility, allowing them to freely set the daily price and borrowing duration for each available NFT. This approach enables users to customize their lending terms according to their preferences and the specific characteristics of each NFT.

For the hackathon, we have chosen to implement the solution using Safe Wallet and its Safeguard system. Safe Wallet provides advanced security features and a user-friendly interface for an optimal user experience. The Safeguard system of Safe Wallet ensures loan security by preventing unauthorised transfers of the borrowed NFT.

How it's Made

Our protocol is based on the smart contract wallet SDK Safe and its Safeguard system, it allows us to make the NFT non-transferrable as soon as it is sent to the borrower's wallet. Users can seamlessly connect their wallets to the Dapp using Rainbow Kit, they directly interact with Metamask on the front-end then, it triggers Safe wallet on the borrower side. The lender can use a classic EOA wallet because there are no security requirements on its side.

Our front-end is developed using React. To fetch the available-to-borrow NFT data, we have built a Subgraph on The Graph that allows us to monitor borrowing events on-chain. For the user portfolio page we used Alchemy to retrieve the users' NFT data from the blockchain. For interacting with the protocol's smart contract, we used the Wagmi React hooks, it allows our protocol smart contract to communicate with our implementation of the safeguard mechanism, ensuring the secure handling of the borrowed NFTs. Please make sure to visit the 4 repositories that we have in :

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