MOR liquidity on Fantom — GrowthDeFi provide users with the most efficient earning power through their products.
MOR now allows Fantom users to deposit both LPs and single assets in vaults as collateral, and to use this to borrow their overcollateralized stablecoin MOR at a 0% interest rate (with the exception of sLINSPIRIT vault, which charges a small 5% borrow rate). Users can now earn yield while you borrow, and leverage yield farming positions for your collaterals. There are also no vault opening fees and no vault closing/debt repayment fees! And now announcing MOR liquidity on Fantom!
How to Use MOR
Selected collaterals on Fantom can now be staked on MOR, allowing you to borrow MOR at a 0% interest rate, and more will be added soon. Currently MOR will launch with xBOO, FTM-BOO, cLQDR, and sLINSPIRIT leveraging vaults. This provides an incredible opportunity to apply leverage to your collateralized position if you wish, with added exposure to the upside potential returns over time.
MOR is more capital efficient than other protocols on Fantom, including Abracadabra, Alpaca, Tarot, Creditum, and MAI. This means that users can watch their collateral grow more quickly without worrying about any fees.
- Step 1: First make sure you have obtained your chosen asset from the following:
- Step 2: Click ‘Open New Vault’. From here you can select your chosen LP/single stake token to deposit as collateral, as well as use the simulator to determine how much of the token you require (and how much MOR you can mint) to meet a particular collateralization ratio.
- Step 3: Click ‘Setup Proxy’. This is necessary to do when you have never created vaults from that wallet address (you only need to do this once per wallet). This will enable the protocol to open MOR vaults from your address.
- Step 4: Click ‘Enable Collateral’. (only needs to be done once for each ilk) After that, you’ll be able to open the vault. Select how much collateral to deposit and how much MOR to mint alongside your collateral. Please note that the minimum amount of MOR you can borrow must be 100 (or 0).
- Step 5: Click ‘Open Vault’.
Managing Your Positions
Once you have opened your vault and staked your collateral, you can manage your positions in the Dashboard. This includes functions like:
- Depositing more collateral to decrease your liquidation risk
- Minting extra MOR
- Repaying your MOR debt to unlock collateral or withdraw your loan altogether
MOR is an overcollateralized stablecoin that is soft-pegged to the dollar. It resembles the collateralization mechanisms of DAI with the key difference of focusing heavily in supporting yielding collaterals and derivatives to increase capital efficiency. It trades higher risk for a higher surplus growth rate per MOR in circulation, the surplus then acts as insurance against the risk of the supported collaterals.
Fantom is a high-performance, scalable, EVM-compatible, and secure smart-contract platform. Fantom’s mainnet deployment—Fantom Opera—is built on Fantom’s consensus mechanism, Lachesis. Fantom is a leaderless, asynchronous, and byzantine fault-tolerant Layer 1 blockchain protocol. Lachesis enables Fantom to deliver fast transaction speeds, low transaction costs, and deterministic finality. This is achieved while remaining permissionless, decentralized, and open-source.