Trava Finance To Launch Lending Pool On Fantom

Following the success of Trava Finance extension on Fantom Network in October, from the listing of $TRAVA on SpookySwap to the Farming program, our special vaults on Fantom and Trava Bridge between BSC and Fantom, we are pleased to announce that we will open our Lending Pool on Fantom Network at 3.00 P.M UTC November 4th.

Together with the launching of our lending system on Fantom Network, we will run our W2.1 Liquidity Mining Program for depositors and lenders when participating in our Lending Pool on Fantom Network.

At the early stage, Trava lending pool supports six assets, covering: FTM, DAI, USDC, USDT, ETH, and BTC

In W2.1 Liquidity Mining Program, when executing depositing or borrowing actions, users will receive two types of rewards:

(1) APY — interest rate based on deposit-borrow demand in the pool, and

(2) APR — reward from the liquidity mining program. The APR reward distribution of the Liquidity program is as below:

• Total program reward: 3.5M rTRAVA
• The total reward for deposit transactions of 6 assets: 2.3M rTRAVA
• The total reward for borrowing transactions of 6 assets: 1.2M rTRAVA

Notes,

• The reward will be distributed by rTRAVA
• The sooner staker you are, the greater reward you receive as APR is calculated based on the TVL of the pool.
• Following Trava tokenomics, a total of 2 billion TRAVA (40% of the total supply) is allocated for liquidity mining on all networks, where the Trava lending pools are deployed. The incentives will reduce every week, ending after 5 years.

When you deposit or borrow in our lending pool, you will receive your reward as rTRAVA from the W2.1 Liquidity Program as your reward invoice.

The rTRAVA is pegged to the $TRAVA, with the conversion rate of 1:1. The main idea of rTRAVA is to categorize depositors and borrowers who get reward from their actions in Trava Lending Pool and users who receive $TRAVA as reward from participating in other vaults but Trava Lending Pool.

We will open a rTRAVA vault on Fantom network for users to deposit and leverage their earnings in the very near future.

Owning rTRAVA brings users a lot of benefits. Depositors and borrowers can use rTRAVA to participate in the upcoming rTRAVA Vault launched soon and make a great profit. In the future, rTRAVA is not only used for this Farming Pool but also for many future programs. For example, rTRAVA holders will receive profits taken from Trava Bridge, NFT renting in the future. rTRAVA also can be used in our NFT staking products that will be released soon. In addition, rTRAVA plays a vital role as a means to evaluate user’s enthusiasm and support for Trava. Note that you are always able to convert rTRAVA into TRAVA token with conversion rate of 1:1.

About Trava Finance

Trava Finance is the world’s first decentralized marketplace for cross-chain lending. While existing approaches provide only one or a few lending pools with their own parameters such as borrow/supply interest rate, liquidation threshold, Loan-to-Value ratio, or a limited list of exchangeable cryptocurrencies, TRAVA offers a flexible mechanism in which users can create and manage their own lending pools to start a lending business. Trava is deployed on the Binance Smart Chain and allows for lending with BSC tokens first; we then enable cross-chain lending with various tokens on Ethereum and other blockchain networks.

Source:
https://medium.com/trava-finance/trava-to-launch-lending-pool-on-ftm-network-353d625bb2e