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Author Topic: Lending and Borrowing in Free TON: Contests and Devepments  (Read 1319 times)

Offline Alex077

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Lending and Borrowing in Free TON: Contests and Devepments
« on: August 15, 2021, 10:45:37 AM »
Lending is the major driver of the economy. Acknowledging this, the crypto industry is actively creating a fully automatic loan system built on blockchain. Let’s consider some ideas and implementations using the example of the Free TON project’s DeFi development. About DeFi in a broad sense DeFi (Decentralized Finance) is a system of smart contracts built on the principles of decentralized architecture to implement blockchain banking operations, bypassing third parties — banks, brokers, credit institutions.

 

Decentralized finance includes DEX exchanges, betting markets, and protocols for issuing synthetic assets and derivatives.  DeFi’s main objectives are cryptocurrency-backed lending and liquidity provision by yield farmers. The DeFi implementation carries a number of risks: errors in the smart contract code and in the DefI structure itself. Of course, it all depends on the blockchain they are built on. To minimize the risks, the DeFi launch should be as thoughtful as possible. The most known DeFi projects are MakerDAO, Compound, AAVE.

 

At the moment, most DeFi projects are built on the Ethereum blockchain. But given the structure, minimal commissions and speed of the Free TON blockchain, if properly implemented, it could become a leader in the DeFi segment. Every crypto project that is built on smart contracts will be sidelined by the industry without the implementation of DeFi services.  The Free TON-Ethereum bridge has been successfully operating on the Free TON blockchain for six months now, opening the doors to all DeFi projects for TON Crystal holders. You can surely use the bridge and enjoy the DeFi implemented on Ethereum, but what about the amount of its commissions, for which Vitalik Buterin’s blockchain is criticized? What if you need to transfer funds to several projects? Expensive! What’s important in Free TON lending services? Flash loans are among the most requested in the DeFi industry.

 

They create artificial interest for many cryptocurrencies and increase their circulation. However, their implementation as it is done on Ethereum, is impossible on the Free TON blockchain. The community organized a “contest program” to find alternative solutions. Free TON: Essays on Credit Services Contest purpose and rewards The DeFi subgovernance has launched a chain of contests dedicated to building lending services on the Free TON blockchain.

Read more...https://freeton.house/en/defi-in-free-ton-contests-and-developments/





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Lending and Borrowing in Free TON: Contests and Devepments
« on: August 15, 2021, 10:45:37 AM »

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Offline FrankMathis

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Re: Lending and Borrowing in Free TON: Contests and Devepments
« Reply #1 on: January 14, 2022, 12:14:27 AM »
You have to be more careful and more responsible with that, don't you? It seems to me that the need for a mortgage or a loan of some amount should not affect the information you receive about this industry. If you borrow money, you should understand that it is a responsibility to pay back the total amount after a certain period of time with interest. I like the way mortgage companies are set up because I was attracted to the article on https://goodlifehomeloans.com/reverse-mortgages/refinancing/ [nofollow]. It showed me the skeleton/soul of such places, and I realized that it is not such a dead-end swamp. Such companies sometimes make concessions to customers and loyally offer a solution to a problem if it arises.
« Last Edit: January 17, 2022, 04:26:05 AM by FrankMathis »

 

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