SmartLend: The First Truly Free Lending Protocol In DeFi
What is SmartLend?
You will be able use any SmartDeFi token as collateral to take out loans on the token’s baseline value — without having to sell them or having to burn them. Simply use the SmartDeFi loan function to place your SmartDeFi token into collateral inside the SmartDeFi token contract.
You will be instantly given the baseline value for the tokens you provided. All tokens placed into collateral are removed from circulating supply and considered burnt until they are recovered by repayment of your loan.
How does it work?
- All loans are opened for an initial 30-day period.
- There are no profits in SmartLend, since the APY is burnt.
- The BNB or ETH paid back goes into the baseline value of the token.
- The loan is completely interest free.
The funds come from the baseline asset pool, based upon the current baseline value at the start of the loan. Loans are considered paid in full when you repay the initial loan balance. You do not need to cover the difference in baseline value up to the payment date making SmartLend completely interest free!
You must extend or repay your loan within 30 days or your collateral will be considered burnt. If you need more than 30 days to repay your loan, you can extend 30 days by burning 0.1% of your collateral. The best part about SmartLend is that this does not negatively impact the baseline value!
How safe is it?
SmartLend requires no oracles. The price comes directly from the baseline.
SmartLend requires no third party. Nothing can be manipulated externally to exploit the code.
SmartLend is the first lending protocol where the funds and data for ratio calculations are hosted inside the same place, making it the most secure lending protocol ever created.
What does this mean?
It means that you can now have access to your SmartDeFi token’s baseline value without having to sell it. This is perfect for life emergencies or helping take advantage of buying into the launch of a new token, without having to sell your assets. This means that you have freedom and can also treat your baseline value as a banked asset.
*This post is taken from the FEG Tokenomics & Rewards Systems (TRS) document found on fegtoken.com