Yearn Finance presents StableCredit and comes up with a new protocol that combines tokenized debt stable coins, lendings and AMMs.
DeFi made simple is the slogan of Yearn Finance, which has recently introduced a new service called StableCredit. StableCredit is a new protocol which will allow you to provide any asset and create tokenized credit. This credit supports USD, EUR but also JPY.
StableCredit focuses on:
- Stable Coins – DAI is tokenized debt. You provide ETH into a Maker vault. This gives you a credit line of ETH in dollar value.
- Lending – Lending is a further extension of debt. You provide ETH as collateral. This gives you a credit line of ETH in dollar value.
- Automated Market Makers (AMM) – Automated Market Makers (AMM) such as Uniswap create a tension between two assets. If you provide ETH & DAI, it attempts to keep the ratio of ETH:DAI 50:50 in terms of dollar value.
The company is currently completing a user interface that will be available in the coming weeks.
Read also: Core Group-TOTAMS JV, The Largest Blockchain based Asset Management & Accounting Platform in Africa
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