Fringe Finance Listed Gitcoin’s $GTC
Fringe Finance has listed Gitcoin’s $GTC as a collateral asset for lending. Users are now able to take out stablecoin loans and leverage their $GTC positions, allowing them to optimize their assets while preserving their $GTC.
$GTC is Gitcoin’s governance token. Launched in late May 2021, the token is required for the construction and funding of the DAO that governs Gitcoin. It has a total supply of 100,000,000 tokens. The 15% is set aside for a retroactive airdrop, while 50% is in the Gitcoin DAO.
Gitcoin’s mission is to build and fund digital public goods. It also empowers communities of builders to connect and work together to create the future of the open web.
Gitcoin represents the spirit of the open web, with P2P communities building open-source code, sharing open data, and adopting open governance.
Fringe Finance is dedicated to unlocking the capital in speculative crypto assets by providing loans collateralized by these assets. 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. The Fringe Finance platform will sustainably adapt through transitioning governance to the Fringe Finance DAO so that its community of stakeholders can best guide its future direction to best suit the community.
ABOUT Gitcoin
Gitcoin is the community of builders, creators, and protocols at the center of open web ecosystems. They are on a mission to build an internet that is open source, collaborative and economically empowering. Creating a community and infrastructure for Web 3 — a diverse range of tools, technologies, and networks that enable people to work for the open internet.
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.
