The dark horse of decentralized lending is coming, HecoLend has a full analysis!
According to recent data from Coingecko, the total market value of DeFi is US$65,505,319,366, and the total lock-up volume is US$42,446,215,841. However, in this increasingly large DiFi ecosystem, as the underlying financial structure of DeFi, the lending business is usually ignored by many people, but in fact all financial portfolio products, derivatives, etc. are inseparable from the support of lending business.
HecoLend, an open source currency market protocol, realizes asset financing based on the Huobi ecological chain technology and the relationship between capital supply and demand. Participants can conduct financial services in the agreement without censorship and permission, and have complete control and ownership of their assets, and can freely enter and exit from the decentralized network.
HecoLend is different from the traditional lending market in that it is not a peer-to-peer market, but a market with liquid capital pools. This model makes it closer to the lending model of traditional banks. At the same time, its operation is based on smart contracts, which gives it the characteristics of inaccurate threshold, openness and transparency, and the market determines interest rates. Before it went live on February 8, 2021, it was recognized by many organizations in the industry as another dark horse in the DeFi industry.
As a dark horse of decentralized lending, HecoLend’s advantages are reflected in the following aspects:
There are two sources of security. The first is the smart contract security of the HecoLend project, and the other is to ensure that the team cannot do evil from it.
With the emergence of smart contracts, the greater significance is to ensure that two or more parties do evil in the process of collaboration, and never use money to challenge a person’s moral bottom line; in the HecoLend contract, users will be responsible for their own assets, and the contract only Provides functions such as deposits, loans, clearing and settlement. The contract does not have the right to use or manage user assets. Furthermore, no one at the handling fee address has the right to withdraw coins, and only provides the operation interface for repurchase destruction and adding HecoLend liquidity, and This interface can be executed by users who meet the conditions;
- Powerful functions
1) Support flash loans: Allow participants to borrow any available amount of assets without providing any collateral, as long as the liquidity is returned to the agreement in one transaction.
2) Support LP Token: Participants can deposit or loan some mainstream asset trading pairs in DEX to obtain liquidity mining rewards.
3) Handling fee repurchase: The HecoLend loan agreement will return all handling fee income to participants in full, and participants who hold a certain number of tokens can perform handling fee repurchase operations. 85% of the protocol fee automatically adds HecoLend/Usdt liquidity, and 15% automatically purchases HecoLend tokens and enters the black hole address for destruction.
HecoLend token production rules:
1) The total amount of HecoLend tokens is 6.1 million, with zero private placement and zero pre-mining.
2) Deposit: 47% mining reward; Loan: 53% mining reward, dynamically allocated according to the amount of funds.
3) 3 seconds/block/0.31 HecoLend tokens.
4) A total of 10 years of digging, starting from 33 months to 120 months, the monthly output is the same.
HecoLend token distribution rules
20% mineral tax (attributable to the development team for continuous product iteration)
5% promotion fee
5% community governance (distributed by users voting)
5% risk reserve (locked in)
65% liquidity mining allocation (deposit 47%, loan 53%, dynamic allocation)
HecoLend loan agreement fee rules
1) The HecoLend fee contract address does not have any authority to withdraw funds, and can only be used to add liquidity and repurchase and destroy
2) HecoLend agreement loan handling fee 0.25%, withdrawal handling fee 0.3%
3) The fee income is used to add liquidity and repurchase and burn, 85% add HecoLend/Usdt liquidity at 50:50 in DEX; 15% buy HecoLend tokens and enter the black hole address for destruction. Example: Suppose the protocol fee is 100,000 USDT, of which 15,000 USDT is automatically purchased for HecoLend and transferred to the black hole address for destruction; 42,500 USDT of the other 85,000 USDT is purchased for HecoLend and the remaining 42,500 USDT is added to the DEX to provide liquidity.
Decentralization is already an irreversible trend. In the future, HecoLend will start from lending, create a new financial system, and promote a new financial transformation in the blockchain industry.
HecoLend, starting from basic finance, is about to change the world.