On September 27, WaterLoan was officially launched on CSC, making it the first lending platform on CSC. As a CSC-based decentralized bank protocol, WaterLoan adopts an excess border strategy, a drawing machine to feed prices, and DAO protection to achieve safe and stable decentralized deposit & borrow support.
WaterLoan adopts the model of over-collateralization (i.e. if the total deposit stands at $100, the amount available for borrowing cannot exceed $100). The platform’s principle of deposit & borrowing is to ensure asset security through crypto deposits. On WaterLoan, borrowers need to pay interest, which will go to depositors. WaterLoan features two types of borrowing: stable borrowing and variable borrowing. The interest rate of the former is usually higher than the floating interest rate. However, the stable borrowing interest rate will not change until the interest rate is rebalanced. Borrowings are often used for different purposes. For example, they can be used as working capital or leverage.
Official launch of WaterLoan mining
On September 27, WaterLoan officially started the four-year mining cycle of mainstream crypto assets. Moments after the platform was launched, its total deposits exceeded $800,000.
There are three mining models on WaterLoan:
- Deposit: Win interest & Get WAT rewards.
- Borrow: Pay interest & Get WAT rewards.
- LP Provider: Provide WAT/USDT liquidity & Get WAT rewards.
WaterLoan will support the deposit and lending of popular assets, such as USDT, USDC, CET, ONES, and IFT, on CSC. Users can deposit their tokens to earn interest on deposits. At the same time, they can use their deposits as collateral to borrow other tokens, thus realizing the flexible operation of assets.
Start mining at: https://waterloan.finance/
For specific mining guides, please refer to: https://docs.waterloan.finance/mining-guide
Why did WaterLoan choose CSC?
CSC is a PoS-based blockchain compatible with the Ethereum Virtual Machine (EVM). Backed by a unique consensus model that combines the underlying mechanism of PoS with the PoA block generation mechanism, CSC effectively solves the problem of ETH congestion, achieves high on-chain performance, and generates blocks in 3 seconds. Moreover, the transaction fee on CSC is less than 0.01 USDT.
In terms of security, CSC has been working with PeckShield. This world-leading blockchain security company audited CSC’s system contract, which has improved the security, privacy, and availability of the CSC ecosystem and reinforced its role as an interconnected infrastructure for blockchain DeFi protocols.
An efficient and secure public chain ecosystem helps a project run smoothly and facilitate the successful launch of WaterLoan on CSC and its mining event. CSC has also set up a $10 million support program and a metaverse support fund. Open and inclusive towards all projects, CSC strongly supports the launch of early-stage and promising projects.
WaterLoan empowers the CSC ecosystem
As the underlying public chain infrastructures of DeFi further improve, projects have evolved from the protocol layer to the application layer. Working with financial institutions, DeFi lending platforms make it more efficient to provide liquidity, which is a major growth opportunity for DeFi lending platforms and an essential way to boost the overall scale of DeFi. WaterLoan provides CSC users with a new channel of lending and asset growth. Committed to building the most secure DeFi lending platform, WaterLoan protects users’ crypto assets through defense optimization and regular code audits. In addition, to identify better projects and services for users and build a well-rounded public chain ecosystem, CSC has also started a three-month hackathon grants.