Fringe Finance integrates Ocean Protocol to make $OCEAN as a lending collateral asset on Sept 19th, 2022.
In addition to purchasing and selling data as the primary form of exchange on the Ocean Market, $OCEAN is a utility token that is used for community governance and staking on data. To promote both short-term growth and long-term sustainability, its supply is distributed gradually.
$OCEAN holders will now be able to take out decentralized, permissionless $USDC loans using Fringe Finance’s Primary Lending Platform.
Ocean Protocol is governed by a Singapore-based non-profit foundation. Its mandate is to ensure open access to the protocol and platform. Provide data governance, and encourage the network ecosystem growth. Take measures to ensure that the platform becomes ever more decentralized with time.
Moreover, Ocean makes it easy to publish data services (deploy ERC721 data NFTs and ERC20 datatokens) and to consume data services (spend datatokens). Crypto wallets, exchanges, and DAOs become data wallets, exchanges, and DAOs.
In addition, Fringe Finance is dedicated to unlocking the capital in speculative crypto-assets by providing loans collateralized by these assets. In addition, Holders who believe in the upside price opportunity of their tokens can now put them to work instead of just waiting idly for their price to appreciate.
Fringe Finance’s vision also includes cross-chain collateralization, fixed-interest loans, a truly decentralized UI, and embedded DeFi insurance. These will provide a platform rich in features to service the growing crypto economy. Furthermore, the Fringe Finance platform will sustainably adapt through transitioning governance to the Fringe Finance DAO. Its community of stakeholders can best guide its future direction to best suit the community.
About Fringe Finance
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending & borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.
About Ocean Protocol
Ocean Protocol is a blockchain-based ecosystem. Enables both individuals and companies to effortlessly monetize their data through the use of ERC-20-compliant data tokens.