Moremoney Defi Coins Review – A Detailed Review About Moremoney

by Cws Team
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About Moremoney

Moremoney is a lending protocol for opening interest-free collateralised debt positions (CDP) using liquidity pool tokens, interest-bearing tokens (ibTKNs) and other major tokens as collateral. Borrowers mint MONEY, a USD softly pegged stablecoin backed by an over-collateralised debt position as well as the yield earned by the collateral. After minting MONEY, borrowers can use it across the DeFi landscape, for interest free leverage, or simply use it to farm MORE.

Moremoney Coin is designed to support the further conversion of base tokens like ETH, AVAX, USDT into ibTKNs. Upon depositing, collateral assets are forwarded to trusted partner protocols where these tokens earn yield, which is either compounded into collateral token or into $MONEY to automatically repay debts owed by a vault.

Quick Fact About Moremoney

Coin Basic Information
DEFI Coin Name Moremoney
ETH ADDRESS0x0f577433Bf59560Ef2a79c124E9Ff99fCa258948
Max Supply10,000,000
Token symbolMONEY
Source CodeClick Here To View Source Code
ExplorersClick Here To Visit
Twitter Group Click Here To Visit Telegram Group
DocumentationClick Here To View
Official Project Website Click Here To Visit Project Website

Flexible Price

The live Moremoney USD price today is $1.00 USD with a 24-hour trading volume of $58,728.32 USD. We update our MONEY to USD price in real-time. Moremoney USD is up 0.65% in the last 24 hours. The current CoinMarketCap ranking is #4577, with a live market cap of not available. The circulating supply is not available and a max. supply of 10,000,000 MONEY coins.

Why Moremoney?

????Interest-free loans

????Earn yield on Collateral

????Convert yield to pay back debt or compound to collateral

????Liquid and Illiquid token collateral

????Flexible Collateral ratio

????Extensible architecture supporting growth

Supported collateral assets on Moremoney are either already interest-bearing or become interest bearing when they get deposited into other DeFi lending or staking contracts. Strategies for collateral and how collateral earnings are used can also be changed by the borrowers.

Yield Compounding Strategy

Single asset collateral tokens are automatically assigned this strategy. The yield or interest earned by the deposited collateral gets reinvested / sold for the same asset as was deposited. They currently use yield yak strategies for these sets of assets. Example: A user deposits 100 AVAX and borrows 1000 MONEY. The AVAX collateral is deposited on select partner protocols like Banker Joe, AAVE or Benqi. The AVAX continually earns interest plus the protocol Governance token, which this strategy sells for more AVAX, increasing the borrower’s total AVAX collateral.

Self repaying strategy

This strategy is currently available for liquidity pool tokens (LPT) used as collateral. The farm reward earned by the LPT is usually converted to MONEY and used to pay back your debt.

Simple Holding Strategy

This strategy is strictly for wrapped token collateral already earning yield in their wrapped form. Examples of collaterals assigned this strategy include wsMAXI. wMEMO, qi-and jTokens without incentives.

Liquidation

MONEY is ultrasound because it is backed by over-collateralised yield bearing tokens. Moremoney’s first product supports isolated stable coin borrowing. Unlike other protocols, with Moremoney each Collateralized Debt Position (CDP) is isolated and only at risk of its own liquidation.

This means that if you are borrowing against ETH and USDC, the liquidation risk is calculated individually for these collateral.On Moremoney they have removed barriers to entry, which often make liquidation exclusively accessible to tech savvy individuals and bots. Anyone can trigger liquidations for loans that rise above their designated LTV.

If there are any liquidatable positions, a special notification will pop up in the UI, prompting users to visit the liquidatable positions page. There, triggering liquidations is as simple as clicking the liquidate button on a position that meets the liquidation threshold. Collateral in the position is automatically sold on-chain to extinguish debt using MONEY flash loans under the hood.

MONEY

MONEY is the platform’s issued ultrasound USD pegged stablecoin. MONEY is backed by a basket of decentralized crypto assets including AVAX, JOE, ETH, QI, and incentivised Trader Joe and Pangolin LP. MONEY is an Avalanche-native stablecoin token similar to USDC, USDT, DAI. MONEY can be traded for other tokens or stablecoin or in DeFi: pairing for liquidity on AMMs, as collateral for borrowing, bonding for tokens, or held as a store of value.

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