The Freeliquid Protocol is proud to become a contributor to the ever-flourishing Decentralized Finance space in the industry. The platform has successfully launched on 21.12.2020 and has been positioned as a novel approach to decentralized lending platforms. Its main advantage is the ability to use liquidity pools as collaterals for borrowing USD stablecoins. Moreover, using Freeliquid does not require third parties – users are able to access the platform simply by connecting their ERC-20 compatible wallet to our interface.
There are two native tokens of the Freeliquid Protocol:
FL – the governance token
USDFL – the stablecoin that is soft-pegged to one US Dollar
Using our smart contracts, Liquidity providers are able to lock their liquidity tokens on Freeliquid Borrow and get up to 90% of the pool’s total value in USDFL. Since the price of stablecoins has extremely low volatility, the liquidation of user collaterals is not possible and completely switched off. These terms are unprecedented in the space of crypto lending and offer our users high value with almost zero risks.
The loan is issued instantly and can be closed at any time simply by covering the outstanding amount of USDFL tokens. The protocol ensures that users are not set under the time pressure, thus, there is no due date before the funds must be returned. The loans are issued for an unlimited period of time until users themselves decide to close the loan.
For the initial period, the Freeliquis Borrow will support liquidity pairs consisting of the stablecoins – USDT-USDC, USDT-DAI, USDC-DAI, and USDT-USDN. The team is currently working on adding support for more platforms and stablecoin pools to attract even more funds and users to the platform.
The entire team at Freeliquid believes in maintaining the benchmark principles of DeFi such as peer-to-peer networks, decentralization, anonymity, and reliance on algorithms rather than human trust. The protocol governance is run by the community through the on-chain voting with our governance token. Every single holder of FL tokens is eligible to submit votes on different proposals by locking their tokens via the governance portal. Once the voting is closed, the tokens will be duly returned to the user.
To ensure a fair and even distribution of the FL governance tokens, we have chosen to implement the so-called Fair Launch Model. At the launch, a total of 1,000,000 FL tokens were generated and will be gradually distributed among users that support Freeliquid. Most FL rewards will go to the users that add to the liquidity pairs of the native tokens of Freeliquid, FL and USDFL.
Freeliquid has been developed with the objective to make liquidity pools work as a source of additional funds for their owners. Another key issue is that liquidity providers keep their passive income from liquidity fees, while receiving USD stablecoins for their free use. If users decide, for example, to create another liquidity pool from the borrowed funds, the original passive income is almost doubled.
We welcome our new users to take an advantage of being early and getting the most of the ongoing FL reward programs. The first weeks of FL rewards have proven to be especially profitable to their users, averaging around 2000-3000% APY in FL tokens depending on the program.
Please join and follow our social media via the links given below:
White paper: pdf link
USDFL contract: 0x2b4200a8d373d484993c37d63ee14aee0096cd12
FL contract: 0xffed56a180f23fd32bc6a1d8d3c09c283ab594a8