Gondi V3 Review 2026: Peer-to-Peer NFT Loans and Marketplace

Gondi V3 is the current version of Gondi, a non-custodial NFT lending protocol that has added a marketplace on top. Users can borrow against NFTs without selling them, lend to collectors for yield, or buy, sell and swap NFTs on the same site. The homepage describes it as an NFT marketplace with built-in lending.

The protocol runs on Ethereum, Hyperliquid and Robinhood Chain, and holds roughly 3 million dollars in total value locked. Two audits are listed for the protocol, and it has no token. Public reporting shows it raised a 5.3 million dollar round in 2023 and facilitated a 1 million dollar USDC loan against an NFT in early 2024.

One search result titled as a hack report is dated March 2026. The homepage does not address it, and the details are not established here, so readers should check the project's official channels for the current status before using the protocol.

Gondi is a peer-to-peer lending protocol for NFTs. A borrower pledges an NFT as collateral and receives a loan, usually in WETH or USDC. A lender supplies the funds and earns interest. The NFT is held under the protocol's smart contracts rather than by a company, which is what non-custodial means.

Unlike many lending markets, Gondi is described as having no oracle liquidations. Many protocols use a price feed and sell collateral if its value drops below a threshold. Here the loan terms are fixed in advance, and if a borrower does not repay by the due date, the lender can take the NFT. That avoids forced sales during sharp floor-price drops, but lenders carry the price risk.

The site also works as a marketplace. Users can buy outright, buy with a loan covering part of the price, list items, or swap NFTs directly with other users. The refinancing option mentioned in the protocol description lets borrowers move to better terms when they are offered.

Gondi does not publish a full fee schedule on its homepage. It says buying and selling carry lower fees and that peer-to-peer swaps carry zero fees. Loan interest and any protocol charges are not listed there.

Borrowers see the rate and term when they choose loan terms in the app, and lenders see expected yield in the lending market. Gas costs also apply on each chain. Public reporting describes gas as cheaper than comparable lending designs, but exact figures are not published.

Gondi is non-custodial, so funds and NFTs sit in smart contracts rather than with a central operator. Two audits are listed for the protocol, but the homepage does not name the auditors or publish reports, so readers should check the documentation. Audits reduce risk but do not remove it, and NFT-backed loans add the risk of illiquid collateral.

A search result titled as a detailed hack report is dated March 2026. The project's homepage does not explain it, so the scale and resolution are not established here. Anyone considering deposits should read the project's own announcements first.

The project does not publish licensing or regulatory details. Check the rules on NFT and crypto lending where you live, and only use funds you can afford to lose.

Gondi is for experienced NFT collectors who hold blue-chip collections and want a loan without selling, and for lenders who understand the price risk of taking NFTs if a borrower defaults. It is not suited to anyone who needs guaranteed returns or easily liquid collateral.