What is PWN? PWN is a decentralized peer-to-peer lending protocol on Ethereum and Polygon that allows users to borrow and lend digital assets.
Let’s find out what is special about this project with Weakhand in this article.
What is PWN?
PWN is a peer-to-peer lending protocol that allows users to borrow and lend digital assets (PWN supports all ERC20 standard tokens, ERC721, ERC1155 standard NFTs). Loan parameters such as interest rate and loan term are agreed upon by both the borrower and lender.
PWN’s target customers:
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Lender (Lender): Deposit tokens into the platform to receive interest from the borrower.
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Borrower (Borrower): Deposit collateral to borrow a certain amount of tokens.
PWN Operating Model
The operating model on PWN takes place in the following steps:
- Step 1: Borrower deposits their collateral (ERC20, NFT) to the PWN platform. Then create loan contracts for Lender such as: Amount to borrow, loan period.
- Step 2: Lenders search for loans on the PWN platform. After finding a suitable loan, Lender creates an Offer with Borrower such as: loan assets, interest rate, loan expiration time.
- Step 3: Borrower accepts the offer and activates the loan on PWN. Borrower’s collateral will be locked on the Smart contract of the PWN platform.
- Step 4: Borrower returns the loan amount + interest to Lender to unlock and receive his collateral.
- Step 5: If the Borrower fails to repay the loan, their collateral may be claimed by the Lender.
Sale: There will be no liquidation on the PWN platform. Borrower simply repays the loan before the loan’s expiration date. If the Borrower fails to repay the loan, their assets may be claimed by the Lender
What is the PWN Difference?
PWN is deploying Multichain on 2 platforms Ethereum and Polygon. In the future, they want to deploy on many more platforms so that users can experience PWN’s services. In addition, expanding lending/allowing assets has many risks but also helps more users access the platform.
Core Team
Josef Je | Co Founder & CEO
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He graduated with a bachelor’s degree from Charles University.
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In September 2012, he became co-founder and CEO of Educasoft – a startup providing learning management solutions in the CEE market.
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In July 2018, he turned to the crypto market when he decided to join the Ethereum Foundation.
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In August 2021, he decided to start a business and is now Founder of PWN.
Simon Kozak | Co Founder & CTO
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He has experience in the field of web programming as well as application programming.
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In February 2021, he joined PWN and is now Co Founder & Full-stack Developer at PWN.
Steve Fau | Co Founder & Head of Product
Investor
February 1, 2022: PWN announced the successful call for $1M from investors such as: Tim Beiko, Will Harborne,…
June 28, 2023: PWN announced the successful call for $2M from investors such as: Starkware, Nethermind,…
Tokenomics
Update…
Information Channel of Project PWN
- Website: https://pwn.xyz/
- Twitter: https://twitter.com/PWNDAO
- Discord:
summary
PWN is a peer-to-peer lending protocol that supports a wide range of assets from ERC20 tokens to NFTs. This is also an advantage when it allows more users to access the platform and because there is no liquidation process on PWN, there is no bad debt on the platform. However, is this an advantage compared to many Lending Protocols on the market? We may have to wait for PWN’s confirmation in the near future.