Lending is here. Borrow any asset against $BTC or $ETH with 0% interest, no liquidations, and no expiration. Open a loan:.
21 Aug 2023, 00:37
Lending is here! 🎉
Borrow any asset against $BTC or $ETH with 0% interest, no liquidations, and no expiration.
Open a loan:
THORSwap's lending fees will be 100% waived for the first wave of loans. 🔥 (THORChain slippage applies)
What you need to know:
The amount you can borrow depends on the Collateralization Ratio (CR) which ranges from 200% to 500%.
This means a range of 50% to 20% LTV (loan-to-value).
As more loans are taken, the CR rises per pool, so less can be borrowed per collateral amount.
Minimum Loan Period = 30 days. Your loan cannot be paid off to redeem collateral before 30 days.
Borrow assets include 1000+ assets supported by @THORSwap , all in 1 transaction.
Collateral assets initially are $BTC or $ETH, with more L1 collateral types to come.
Debt is denominated in TOR (a USD equivalent) and can be paid back in any @THORChain supported asset.
@THORChain Lending redefines DeFi loans to be stress-free with no liquidations and no interest:
When a @THORChain loan is opened, the collateral provided is swapped to $RUNE and the difference between the collateral value and the loan value is burned. This benefits THORChain such that there’s no need for liquidations or interest.
THORChain Lending has safeguards in place including:
- Throttling
- Loan caps (5M $RUNE initially)
- Circuit breaker to prevent $RUNE inflation
Risk report from @block_science :
Other things to note:
Loans can be partially repaid, but collateral is only returned when debt is fully paid off.
If collateral value increases, more debt cannot be added to the same loan.
Additional loans can be opened if you have existing loans open.
Slippage on opening/closing loans increases during high volatility.
If there's a rush to open loans, max CR will increase rapidly - increase your slippage (10% default) to ensure your loan opens.
Check out these resources to learn more about Lending:
@THORChain Docs + ADR:
@THORChainLPU Article:
Videos by @GrassRootsio :
THORSwap Article:
@THORChain Lending is a true revolution for DeFi. By eliminating liquidations, interest, and expirations, borrowing becomes a more accessible & stress-free experience.
Try Lending on @THORSwap and experience the future of decentralized lending:
Same news in other sources
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21 Aug 2023, 17:27
Lending is live! 🎉 Open a loan here: https://app.thorswap.finance/lending
Borrow any asset against $BTC or $ETH with 0% interest, no liquidations, and no expiration.
THORSwap's lending fees will be 100% waived for the first wave of loans. 🔥 (THORChain slippage applies)
Spread the word! 📣
Learn more:
Lending is live. Open a loan here:. Borrow any asset against $BTC or $ETH with 0% interest, no liquidations, and no expiration.
Lending is live! 🎉 Open a loan here: https://app.thorswap.finance/lending
Borrow any asset against $BTC or $ETH with 0% interest, no liquidations, and no expiration.
THORSwap's lending fees will be 100% waived for the first wave of loans. 🔥 (THORChain slippage applies)
Spread the word! 📣 https://twitter.com/THORSwap/status/1693421947017679178
Learn more: https://medium.com/@thorswap/revolutionizing-crypto-borrowing-cross-chain-lending-is-here-8947f3b78baa