Colony and Phuture have officially announced their partnership with Moremoney, adding the option to borrow using CAI/AVAX LP as collateral.
The Moremoney protocol allows users to borrow against LP tokens, interest-bearing tokens (ibTKNs), and many other major tokens as collateral, while continuing to earn competitive yields on their deposits through third-party executed strategies such as Platypus Finance, BENQI, AAVE, and Yield Yak. Additionally, users retain control over the strategy used on their underlying funds and can make changes seamlessy when a superior option emerges.
Moremoney’s vision is to help expand the Avalanche lending landscape, letting users borrow a first-of-its-kind yield-bearing stablecoin (MONEY), while still earning a sustainable yield on their collateral.
Together, CAI and Moremoney bring some of the most innovative lending solutions found on the Avalanche network directly to investors like you!
How it will work?
The integration of CAI/AVAX LP onto the Moremoney protocol helps enhance the index’s utility, allowing investors to deposit their LP, borrow against it, and leverage.
As a result of this integration, CAI investors will be able to unlock liquidity and borrow at sound collateral ratios while continuing to earn competitive yield returns.
Moremoney is a decentralized borrowing platform native to Avalanche. Users can deposit tokens on the platform and borrow the MONEY Stablecoin.
Moremoney differentiates itself by letting users earn competitive yields on their deposits via strategies executed by third parties such as Platypus Finance, Benqi, AAVE, and Yield Yak. Furthermore, users get to retain control over which strategy is used on their underlying funds and can make seamless changes when a superior option emerges.
The MONEY stablecoin is the first yield-bearing stablecoin on Avalanche and was designed with ultra-sound peg-keeping architecture.
Colony is a community-driven accelerator, evolving into an inclusive DAO, to boost Avalanche’s ecosystem growth. Powered by a governance token: $CLY.
Colony deploys capital within Avalanche on early stages projects, provides liquidity to DeFi protocols, validates networks through stacking capabilities, and will maintain an Index on top Avalanche projects. The true sustenance and value generated by Colony’s investments are routed back to the community through airdrops, a buyback mechanism, and staking rewards.
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Phuture (PHTR) is a decentralized protocol that allows users to gain passive exposure to crypto assets. With leading index products built on Ethereum and Avalanche, Phuture is at the forefront of innovation in crypto passive investing. Phuture has a global team and community to support and grow its mission.