pETH is an Ethereum derivative supported by the JPEG'd protocol. It is minted when a user borrows against their NFT and burned when they decide to repay their loan. Unlike the 2% interest rate for borrowing PUSd, minting $pETH against an NFT has a 5% interest rate.
JPEG'd is a decentralized lending protocol on the Ethereum blockchain that enables non-fungible token (NFT) holders to open collateralized debt positions (CDPs) using their NFTs as collateral. Users mint PUSd or pETH enabling them to effectively obtain leverage on their NFTs.
