What is dAMM Finance? dAMM Finance is a Lending & Borrowing platform with fixed interest rates and no collateral required. Faced with many Lending & Borrowing platforms with similar operating mechanisms, what are the strengths and differences that help dAMM rise? Let’s find out with Weakhand in the article below.
Let’s get started!
What is dAMM?
Introducing the dAMM project
dAMM is a Lending & Borrowing platform with some of the following characteristics:
- dAMM No collateral required or less collateral than the actual loan.
- Interest charged to the lender and payable permanent by algorithm.
- dAMM launches unsecured loans with any type of coin/token as long as that token has a liquidity pool on dAMM.
Of course, to be able to receive a loan from dAMM, it is required that individuals or organizations participating in the loan must KYC with the platform and when they are on the whitelist, they can propose their loans.
Some problems may be encountered in the future
Providing too many types of assets in the lending pool will certainly result in assets with poor liquidity and frequently fluctuating prices, so it is relatively difficult for individuals or organizations to borrow these types of assets. .
In addition, the fact that individuals or organizations may go bankrupt and be unable to repay loans is also a risk with Credit Protocol platforms.
Development Roadmap
Quarter 1/2023: The project will launch the Market Making Pools product.
Quarter 2/2023: Deploy the Flash Loan product to help users access investment opportunities in the direction of High Risk High Return. Flash Loan is also very popular in the crypto market but also has many risks of hacking and rug pulling.
Quarter 3/2023: The project will integrate AMM into the platform.
Core Team
Update…
Investor
September 27, 2022: dAMM Finance has officially successfully called for $2M with the participation of many investment funds such as BeraChain, LedgerPrime, Prismatic Capital, Woo Network,…
Tokenomics
Information about dAMM Finance token
- Project name: dAMM Finance
- Code: DAMM
- Blockchain: Ethereum
- Token classification: ERC – 20
- Smartcontract: 0xb3207935ff56120f3499e8ad08461dd403bf16b8
- Total supply: 250,000,000
Token Use Case
Users can stake DAMM to receive a portion of project revenue and vote in proposals to decide the project’s direction.
Exchanges
Currently users can only trade DAMM tokens on the Uniswap platform.
Information Channel of dAMM Finance
- Website: https://damm.finance/
- Twitter: @dammfinance
- Discord:
Summary
dAMM Finance continues to become one of the Credit Protocol platforms. However, the new project is in the early stages of development and still needs a lot of time to monitor in the future.