The new addition to the Planet Finance ecosystem will bring high-power lending and borrowing, as well as a utilitarian token with excellent tokenomics.
Building the Galaxy
Planet Finance is a Top 10 Binance Smart Chain (BSC) protocol that seeks to create a full scale Decentralized Finance (DeFi) ecosystem based around a virtual galaxy. The ecosystem is currently made up of three planets: Blue Planet (Stablecoins); Red Planet (Top Cryptos); and Uranus (Boosted Altcoins).
In their effort to become a complete DeFi ecosystem, Planet Finance has been hard at work developing even more planets for users to enjoy. The upcoming Green Planet and its accompanying $GAMMA token will be perhaps the most exciting planet yet.
Introducing the Green Planet and $GAMMA Token
The Green Planet will introduce fully non-custodial lending and borrowing to the Planet Finance ecosystem. It is the first decentralized money market that has discount levels.
Along with introducing lending and borrowing, Green Planet will also bring the release of the $GAMMA token. Planet Finance will be switching to a dual-token model with the $GAMMA token and $AQUA token each serving their own role in the ecosystem.
How It Works
On the Green Planet, yields are earned every 3 seconds when you lend and borrow. Every loan will be over-collateralized to ensure that the lender is protected.
Green Planet Features
Chainlink Oracles – Planet Finance will be integrating Chainlink’s pricing oracles into Green Planet. This will allow for the most accurate price feeds, eliminate price manipulation, and protect against flash loan exploits. As tokens must be listed on multiple exchanges
Massive Discounts – Staking $GAMMA grants investors massive discounts on fees and interest rates – and increases their yield returns at the same time.
Forever Rewards – In addition to current market returns, protocol users will always earn $GAMMA for lending/borrowing.
Rolling Interest – The Green Planet relies on a concept known as rolling interest for its yield distribution. Rolling interest essentially does away with typical interest disbursements that are periodic and spaced over long periods of time, granting immediate returns for lenders and borrowers.
The Role of $GAMMA
$GAMMA is a non-inflationary utility asset with a limited supply of 100,000,000. Every day 100,000 $GAMMA is released to incentivize the ecosystem, lending and borrowing, liquidity providing, and promote Planet Finance’s expansion.
Significant fees on Planet Finance will be used to buy $GAMMA and place it into a reserve. Once the max supply of the token has been reached, these reserves will begin to be distributed to protocol users. This essentially creates a feedback loop as generated protocol fees are continuously distributed to users.
The treasury reserve fund ensures that there is always liquidity for investors to pull out their funds, eliminating the potential for delayed withdrawals due to a lack of liquidity. This distinguishes Green Planet from other lending platforms that don’t necessarily have the liquidity necessary to be an efficient operation.
Users will initially be able to supply & borrow $GAMMA on the platform. They will also receive their yields in $GAMMA for providing lendable assets.
Discount Levels – There will be 3 levels of discounts based on supplied $GAMMA. These discounts will increase yields and reduce fees on supplied $GAMMA relative to users collateral.
Users can stake $GAMMA in the $GAMMA vault to earn extra yields. Users will also receive $GAMMA rewards for providing liquidity to the $AQUA-GAMMA Liquidity Pool (LP).
Interplanetary Utility – $GAMMA won’t just have utility on the Green Planet. The token will be used as an incentive for vaults and providing liquidity on Red Planet, Blue Planet, and Uranus. The $AQUA-GAMMA LP will be listed on every planet, receiving trade fees as well as user liquidity provision. On the soon-to-come Pink Planet, $GAMMA will be used for buying and selling Non-Fungible Tokens (NFTs).
To learn more about Planet Finance, the Green Planet, and the $GAMMA token, visit the following links:
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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Source : bsc.news
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