Trava Finance is a revolutionary protocol that allows you to create loan pools to start a lending business
Trava is the next generation of loan protocols, using an innovative model of multiple user-created loan pools. This revolutionary development of cross-chain lending is something you should check out if you’ve ever wanted to build and manage your own loan pool, start an online lending business, and potentially reap big profits from it. The Trava smart contract is now live on Binance Smart Chain and Fantom Network.
A decentralized marketplace for inter-chain loans
Work.Finance is the world’s first decentralized marketplace for cross-chain lending and offers a flexible mechanism in which users can create and manage their loan pools to start a lending business. Initially deployed on the Binance smart chain, Trava allows lending with BSC tokens in the initial stages, with cross-chain lending with various tokens on Ethereum and other blockchain networks activated afterwards. Established in 2018 with more than 20 initial members, the team has brought together exceptional specialists and individuals in the fields of blockchain, security, finance, risk management and law to facilitate its growth.
The BSC Trava loan pool supporting 14 assets. While existing approaches only provide one or a few loan pools with their own parameters such as loan / offer interest rate, liquidation threshold, loan-to-value ratio, or a limited list of crypto – exchangeable currencies, Trava offers a flexible mechanism in which users can create and manage their own loan pools to start a lending business. Trava also offers the credit score function based on on-chain financial data analysis as a useful tool that reduces risk and increases profits for all users.
The main innovation behind Trava is that it allows users to create their own pools with their own parameters such as loan / supply interest rate, liquidation threshold, etc. However, there are other important differences between Trava and existing solutions. Trava offers users a credit rating – Pool owners can set a credit score threshold for borrowers to reduce loan risk and set a high loan-to-value ratio for borrowers with high credit scores. NFT, stock tokens and other digital assets as collateral: to increase liquidity. This service will be launched in the fourth quarter of 2021.
Another advantage of Trava is the inter-chain identification and inter-chain loan. It can identify all wallet addresses of the same users on different channels. After that, users can use all of their cryptos as collateral for a huge loan in one transaction. Trava plans to offer many statistical functions and data analysis for users, so that they can reduce risks and increase profits in a professional manner.
Trava launches a loan pool on the Fantom network
The Trava team recently announced that they will be opening a loan pool on Fantom Network November 4. Along with the launch of the loan system on the Fantom network, Trava will run its W2.1 liquidity extraction program for depositors and lenders when they participate in the loan pool on the Fantom network. At this early stage, the loan pool supports six assets, covering: FTM, DAI, USDC, USDT, ETH, and BTC.
Dr Minh Nguyen, CEO and co-founder of Trava, commented: “The deployment of the Trava loan pool on the Fantom network is a pre-planned project of Trava.Finance which proves Trava.Finance’s commitments to users, including: (1) gradually supporting inter-chain loans, (2) serving more users of Defi services in different potential networks like Fantom and others, and (3) forming the Trava DEFI 2.0 ecosystem with products to come launched by Trava.Finance.
Trava has many more developments to come, such as opening rTrava vault on Fantom, launching NFT staking and NFT marketplace, adding more tokens to BSC and FTM pools, creating a credit score based lending pool, Trava Bridge profit sharing for rTrava holders, new partnerships and listings on leading exchanges. So to continue the project, visit the website, and be sure to follow the team on Twitter, Telegram, Reddit, and Average.
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