Discounts in the loan system
Risebit's lending and borrowing system offers 100% decentralized loans. Users will be able to borrow in BUSD in comfortable installments and with low interest rates compared to the traditional system, for this they must leave as collateral cryptoassets such as Bitcoin, Ethereum, Ada, Polkadot, Avax, Solana, among others.
To obtain discounts on the loan interest, users will be able to burn Risecoin tokens equivalent to 20% of the total interest, this will automatically give them a 50% discount. This means that if a person is going to borrow $1,000 with an annual interest rate of 12%, by burning Risecoin equivalent to 20%, he will get a 50% discount on his interest rate, leaving it at only 6% per annum.
Users will be able to pay in installments or in full their loan. Once an installment is paid, the equivalent of the collateral is returned to the user; if the user pays his loan in full, the entire collateral is returned.
Risebit in order to keep the liquidity protected, the smart contract will set a settlement price. If for any reason the price of the collateral decreases to that amount, the Risebit oracle system will execute a transaction to sell the collateral and restore liquidity, including the taxes associated with the loan.
The additional fee charged per loan will be distributed as follows:
Item | Percentage | Asset |
|---|---|---|
BNB Miner | 30% | BNB |
BUSD Miner | 30% | BUSD |
Lending Liquidity | 20% | BUSD |
Marketing | 10% | BUSD |
Development | 10% | BUSD |
Last modified 5mo ago