The NFT lending agreement ParaSpace will charge a 3% fee for APE pledge starting from May 1st

According to reports, the NFT lending agreement ParaSpace will charge a fee starting from May 1, 2023, including a 3% fee for APE pledge. This fee will be charged when Claim rewards compound interest, mainly used to pay the gas cost of automatic composite user APE rewards. If profits are generated from the APE pledge fees, ParaSpace will return 50% of the profits to the Yuga ecosystem through supporting community builders, sponsoring community driven activities, gifts, and other forms.

The NFT lending agreement ParaSpace will charge a 3% fee for APE pledge starting from May 1st

I. Introduction
– Explanation of NFT lending agreement ParaSpace
II. The New Fee System
– Explanation of the new fee system
III. The 3% Fee for APE Pledge
– Explanation of the 3% fee for APE pledge
– How it will be charged
– Its use in paying for gas cost of automatic composite user APE rewards
IV. Profit Generation from APE Pledge Fees
– Explanation of ParaSpace’s profit generation system
– 50% return to Yuga ecosystem
V. Impact on Yuga Ecosystem and Community Builders
– Explanation of how ParaSpace’s fee system will affect the Yuga ecosystem
– Sponsorship of community-driven activities
VI. Conclusion
– Recap of ParaSpace’s new fee system and its impact
# According to Reports, ParaSpace Will Start Charging a 3% Fee for APE Pledge
NFT lending has become an increasingly popular way of earning passive income in recent years. As the name suggests, NFT lending agreements allow users to lend out their NFTs to others in exchange for fixed interest rates. One of the major players in this market is ParaSpace, which recently announced a new fee system that will come into effect from May 1st, 2023.

The New Fee System

So, what is this new fee system and how will it affect ParaSpace users? Under the new system, ParaSpace will charge a fee whenever someone claims rewards that have accumulated from their NFT lending activity.
At a basic level, this means that users will need to pay a small fee to access their earnings. However, the system is slightly more complex than that. In particular, users who have pledged their APE (Auto-Farm Penguin) tokens may be subject to additional fees.

The 3% Fee for APE Pledge

Under ParaSpace’s new fee system, users who have pledged their APE tokens for NFT lending will be subject to a 3% fee. This fee will be charged whenever rewards are claimed and will primarily be used to pay for the gas cost of automatic composite user APE rewards.
It’s worth noting that this fee is only applicable to APE token holders. So, if you haven’t pledged any APE tokens, you won’t be subject to this fee.

Profit Generation from APE Pledge Fees

If you’re an APE token holder, you might be wondering what happens to the fees that are generated from your lending activity. As it turns out, ParaSpace has an interesting profit-generation model that benefits both its users and the wider Yuga ecosystem.
Specifically, ParaSpace will take 50% of the profits generated from the APE pledge fees and use them to support community builders, sponsor community-driven activities, gifts, and other forms that help the Yuga ecosystem thrive. This means that every time you lend out your NFTs through ParaSpace, you’re not just earning money for yourself but also helping to foster a vibrant and healthy community.

Impact on Yuga Ecosystem and Community Builders

So, what does this all mean for the Yuga ecosystem and its community builders? On the one hand, the new fee system ensures that ParaSpace can continue to provide high-quality NFT lending services to its users. On the other hand, the profit-generation model means that ParaSpace can support the wider ecosystem and help to bring like-minded individuals together.
For community builders, this is great news. By sponsoring community-driven activities and gifts, ParaSpace is helping to facilitate new connections and collaborations. This, in turn, can lead to the creation of new NFT projects and other exciting developments within the Yuga ecosystem.

Conclusion

In conclusion, ParaSpace’s new fee system represents an interesting development for the world of NFT lending. While some users may be initially put off by the idea of paying fees, the profit-generation model ensures that these fees are put to good use in supporting the wider community.
If you’re interested in earning passive income through NFT lending, ParaSpace is certainly worth considering. By lending out your NFTs, you can not only make money but also contribute to a thriving ecosystem of like-minded individuals.

FAQs

1. Will I be charged a fee if I don’t pledge any APE tokens?
No, the 3% fee is only applicable to APE token holders.
2. What happens to the profits generated from the APE pledge fees?
50% of the profits will be used to support the Yuga ecosystem through community builders and other activities.
3. When will the new fee system come into effect?
The new fee system will come into effect from May 1st, 2023.