Growth DeFi on Binance Smart Chain allows users to earn while they borrow and yield farming with their locked-up collateral.
A New Stablecoin
Growth DeFi has launched a new stablecoin, MOR, on Binance Smart Chain (BSC). The project seeks to build on the success of existing stablecoin mechanics such as MakerDAO and DAI, with an innovation that will allow users to earn yield with their collateral.
While capital locked into other lending and borrowing platforms does very little, capital locked into Growth DeFi will earn the borrower yield farming rewards. Growth hopes the increased liquidity will boost its platform and users.
“MOR combines the most advantageous aspects of current platforms into a single platform. With MOR, users can earn while borrowing, leverage both yield-earning and non-yield-earning positions, and take advantage of low, fixed borrow rates,” said a Growth DeFi blog on September 2nd.
Growth DeFi will allow users to collateralize their loans with several different assets on Binance Smart Chain. These include CAKE, BUSD/USDC, BNB/BUSD, CAKE/BNB, ETH/BNB, BTCB/BNB, CAKE/BUSD, ETH/USDC, BTCB/BUSD via PancakeSwap as well as BANANA and MOR/BUSD via ApeSwap.
Over-collateralized Loans
Over-collateralized loans are a key innovation of Decentralized Finance (DeFi) which allows users to borrow funds anonymously and without third-party approval. While borrowing in centralized finance is determined by credit checks and decisions made at an institutional level, decentralized finance instead relies on smart contracts and collateralization.
DeFi lending and borrowing is big business. MakerDAO is a market leader in the space, with $13.6 billion worth of assets locked in the platform. If Growth DeFi can capture even a small share of the market, the potential for $MOR is considerable.
To learn more about Growth DeFi, visit their social media links:
Growth DeFi Platform | WHEAT dApp | Twitter | Medium | Telegram
Source : bsc.news
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