Introduction to Moremoney

Moremoney: Interest-free loans and Yield farming
  • Interest-free loans
  • All supported tokens are automatically yield-bearing tokens
  • Use LPT as collateral while receiving farm reward in the form of self-repaying loans
  • MONEY is our Ultrasound Dollar
  • MORE is the Governance and fee sharing token

How It Works

  1. Alice holds single assets, e.g., AVAX, JOE, PNG, or Liquidity Pool Tokens (LPT) in a supported pair.
  2. She deposits these tokens into the Moremoney lending contract and requests a certain amount of $MONEY as a loan.
  3. The lending contract withdraws the LPT from her wallet and deposits it into a yield-earning contract, such as an incentive contract run by the DEX or a Yield YAK folding strategy for Benqi or Banker JOE.
  4. Then it mints the requested amount of $MONEY to Alice’s wallet, taking a minting fee
  5. The contract checks the minimum collateralization ratio for Alice’s account holds using a price oracle
  6. Alice can now trade $MONEY on exchanges, add liquidity to farm MORE, provide it as collateral for leveraged trading, etc.

What happens to yield?

After opening a collateralized debt position (CDP) on Moremoney, the collateral supplied is sent into the DeFi Wild, hunting for yield. And the yield/interest received is:

Ultrasound MONEY

MONEY is our ultrasound USD pegged stable coin, backed by interest-bearing collaterals, present and future yield. MONEY is issued when a debt position is opened and is destroyed permanently when debt is repaid.

MORE

More is the governance and fee distribution token for Moremoney. MORE will be distributed to liquidity providers and early adopters, Bonded for LP (POL).

Unique Feature and Upcoming Products

Collateral Migration: Unlike on other lending platforms like abracadabra, on Moremoney, users can move collateral seamlessly between DeFi protocols or seamlessly from one yield yak strategy to another.

Risk

The Moremoney protocol has been audited by Peckshield and peer reviewed by several solidity developers. Still, as with any other DeFi protocol, the risk of smart contract bugs and exploits can’t be ruled out with absolute certainty.

keep balance to avoid liquidation

Free Alpha: When Launch?

Moremoney soft launch is happening on the 7th January 2022.

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Moremoney Finance

Moremoney Finance

Moremoney is a protocol for borrowing against your liquidity pool tokens and other interest and non-interest bearing tokens, while still earning a healthy APY.