Rulerprotocol.com is a lending platform where users can borrow their preferred cryptocurrency with any other cryptocurrency as collateral.
Ruler Protocol is a lending platform where users can borrow their preferred cryptocurrency with any other cryptocurrency as collateral. It aims to fill the gap by enabling no liquidations as long as borrowers pay back on time, interest rates determined by supply and demand, fixed-rate loans at the moment of borrow/lend, fungible loans that can be tradable anytime & anywhere.
Rulerprotocol.com is airdropping a total of 3,333 RULER to users who participated in Cover Protocol, Yearn Ecosystem, and Inverse governance via snapshot.page and to Ruler Protocol testing program participants. All eligible participants will be able to claim 2 RULER tokens.
If you’re eligible, then you will see the “2 RULER” claim button.
Claim it to receive 2 RULER tokens.
Governance participants of Cover Protocol, Yearn Ecosystem, and Inverse (via snapshot.page) and users who’ve participated in the Ruler Protocol testing programs are eligible to claim the tokens.
You will only be able to claim your tokens for 20 days. All unclaimed tokens will be sent to the treasury.
For more information regarding the airdrop, see this post.
Ruler pairs are at the core of Ruler Protocol. Each pair consists of the following elements:
Collateral token (ex. wBTC)
Paired token, the token users have to payback (ex. Dai)
Expiry, the time users have to pay back (ex. 12/31/2021)
Mint ratio, the ratio of collateral to paired token. 10,000 mint ratio @ $30,000 collateral price = 300% collateralization ratio
Two Fungible Tokens (rTokens – rcToken & rrToken)
Two fungible tokens are minted when a user deposits collateral into Ruler for each Ruler Pair. Based on the collateral type, there will be a mint ratio between the rTokens and the collateral. For example, 1 wBTC deposited as collateral may mint 10000 rTokens (300% collateralization ratio @ 30000 wBTC price).
What is Ruler Protocol and what makes it unique?
No bonding curve to determine interest rates, instead rates are decided by market demand and supply..
With Ruler, as long as you follow the rules, you will never have to worry about health factors or having your position liquidated.
Obtain ERC-20 loans for the time period you need. Trade your debt sheet anytime.
Ruler Protocol’s smart contracts will be deployed, and verified on the Ethereum blockchain, making lending and borrowing entirely censorship resistant and open.
Ruler Protocol will allow you to lend out any asset. Those looking to borrow an asset are able to, as long as there are people willing to lend it out.
No Kyc Required
Ruler Protocol allows you to lend and borrow without needing to give up your identity.
What is RULER Token and what is it used for?
RULER tokens are valueless and serve as governance tokens for Ruler Protocol.
Vote on community-submitted proposals that will shape the future of the protocol.
Earn RULER tokens through being a liquidity provider by lending assets
Earn RULER tokens by contributing to the protocol and make it better.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.