Pine Price

Pine (PINE) is a cryptocurrency launched in 2023. It powers a non-custodial asset-backed lending protocol that bridges fungible token liquidity with non-fungible collateral.

The protocol targets the endemic illiquidity of NFT markets. Borrowers pledge their NFTs to access fungible token loans without selling the underlying asset. This mechanism transforms idle digital collectibles into productive financial instruments. Lenders, meanwhile, supply capital to earn yields.

Pine operates on the Ethereum and Polygon blockchains. It does not maintain its own independent consensus mechanism. Instead, it leverages the security and finality of these existing networks through smart contract architecture.

A pair of immutable contracts—one on Ethereum and another on Polygon—govern the protocol's logic. The token itself is a cryptographically-secured fungible asset, transferable and interoperable within those ecosystems. No native blockchain, no validator set, just deterministic code executing lending terms and incentive distributions.

Originating with a launch on February 10, 2023, the project surfaced with backing from the Alameda Research portfolio. The development team remains anonymous in available documentation. From its inception, the protocol was framed not as a corporate venture but as a community-governed autonomous system, with governance rights fully migrating to token holders once the DAO launched.

The long design horizon aims to dismantle the friction between NFT ownership and liquidity access. By collateralizing non-fungible tokens, the protocol severs the forced linkage between asset appreciation and capital release. It reconfigures NFTs from static collectibles into dynamic collateral capable of generating on-chain credit.

PINE tokens insert holders directly into the PineDAO machinery, where staked balances determine vote weight on protocol parameters, treasury allocations, and development directives. Beyond governance, the asset tethers incentive structures—protocol emissions flow to users who supply liquidity or borrow against NFTs, calibrated by contribution metrics. The token also functions as a tiered membership key.

Liquidity providers deposit fungible assets into pools and receive LP tokens alongside PINE rewards proportionate to their capital commitment. Borrowers who hold PINE unlock reduced interest rates and preferential access to certain liquidated NFT auctions. The DAO treasury, governed by token-weighted votes, dispenses grants and budgets for ecosystem maintenance.

Pine has a maximum supply of 199,575,000 tokens. Currently, 32,062,126 are in circulation. New tokens are emitted to participants as reward incentives for protocol activity. With a market capitalization of $57,721.00, Pine ranks #6,795 among all cryptocurrencies.