Odaily Planet Daily News According to THORChain official news, THORFi Lending has been launched, supporting BTC and ETH collaterals, with a maximum mortgage ratio of 500% and a minimum mortgage ratio of 200%.
The lending protocol allows 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.
THORChain reminds that there may be loopholes in THORChain Lending that need to be suspended or fixed. Node operators and developers will keep an eye out and fix it in time.