Borrow against NGT

Twenty-one million, and a name that tells you what it is not

The contract at 0x72cddb64a72176b442bdfd9c8bb7968e652d8d1a calls itself “Not a Gold Token” and reports a total supply of exactly 21,000,000. Both halves are deliberate: the name disclaims the thing the ticker suggests, and the supply is bitcoin’s cap.

Take the name at face value when you decide what you are pledging. This is an ApeChain ERC-20 with a fixed supply. It is not a claim on metal, and it is not related to PAXG, which is tokenized bullion with an ounce behind each unit, or to tokenized silver.

The terms sit mid-range for ApeChain

The pool clears 25% of collateral value at 15% APR. ApeChain rates cluster tightly because one operator wrote most of the pools there, so the ceiling is the number that separates one row from another rather than the rate.

Turn it upside down for the figure you plan around: roughly four dollars of NGT behind each dollar borrowed.

A fixed cap behaves unlike the thing it disclaims

Gold has no cap. Miners add to the above-ground stock every year, which is part of why it drifts rather than spikes. A token fixed at 21,000,000 units cannot be added to at all, so its price responds only to demand against a supply that never moves.

Those are opposite designs, and the pool prices them apart: this row and the tokenized-metal rows sit in different bands on both ceiling and rate.

The loan, and what you receive

Deposit NGT and the pool lends against it on ApeChain. Interest is charged for the days you hold the loan, so a 30-day term costs about a twelfth of the annual figure, and the ApeChain pools add a 2% marketplace fee on top of the quoted rate rather than the 1% that Base and Ethereum charge.

Every loan is fixed-term with no margin-call, so a price fall during the loan cannot liquidate your collateral. Miss the due date and the collateral is forfeit. Gas on ApeChain is negligible.

The ApeChain page covers the rest of the chain’s assets.