Odaily Planet Daily News According to official news, the decentralized cross-chain transaction protocol THORChain released the lending protocol THORFi Lending, which was approved by the node operator. The lending function will be launched on the mainnet, and the collateral will be limited to BTC and ETH at that time.
The feature will allow users to deposit native collateral and then create debt at Collateral Ratio (CR). Regardless of what L1 asset a user receives, the liability is always denominated in USD (i.e. TOR). Users can repay the loan at any time, with any amount in any asset. Repayments are converted into TOR.
All loans are zero interest, zero liquidation, and no maturity date. Risk is controlled by limits on collateral per pool, slip-based fees when opening and closing loans, dynamic CR and circuit breakers for RUNE supply.