Table of Contents
What Is Proton Loan (LOAN)?
Proton Loan is a new decentralized lending market built on the Proton blockchain. Utilizing the cross-chain capabilities of Proton wrapped xTokens, Proton Loan makes it possible to deposit cryptocurrency into lending pools to earn interest, and to take collateralized loans from cryptocurrency pools. With support for BTC, ETH, USDC, DOGE, XPR and XMT, and with zero gas fees on the Proton blockchain, Proton Loan ensures DeFi lending remains accessible and affordable.
Proton Loan opens up a new possibility for borrowing and lending against multiple blockchains that were not previously accessible on Ethereum or other blockchain protocols. By using a system of smart contracts powered by the Proton blockchain, users can request and fulfill loans using cryptocurrency without the need for a central mediator and without regard for the parent blockchain protocol of the requested asset. The LOAN token will be used to vote on governance decisions for the Proton Loan platform, such as which tokens can be collateralized on the protocol to borrow and lend, as well as the interest rate curves for borrowing.
Proton Loan Coin Storage Key Points
| Coin Basic | Information |
|---|---|
| Coin Name | Proton Loan Coin |
| Short Name | LOAN |
| Total Supply | 73,776,304,179 |
| Max Supply | N/A |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
Why Proton Loan?
Proton Loan opens up a new possibility for borrowing and lending against multiple blockchains that were not previously accessible on Ethereum or other blockchain protocols. By using a system of smart contracts powered by the Proton blockchain, users can request and fulfill loans using cryptocurrency without the need for a central mediator and without regard for the parent blockchain protocol of the requested asset.
No transaction fees on Proton Loan
The Proton blockchain charges no gas or mining fees to end-users – transactions on Proton are free. Validators get rewarded in XPR for validating transactions.
A blockchain lending protocol
Proton Loan is a DeFi lending protocol powered by the Proton blockchain.
Liquidity pools
Lenders can add cryptocurrency directly into liquidity pools, where borrowers can withdraw a loan in just a few clicks.
Smart contracts
Proton’s pressure-proven smart contracts ensure all loans are accurately tracked in real time, always giving you accurate information.
Rewarding rates
With competitive rates for lending crypto, and attractive rates for borrowing, Proton Loan stands out when compared to other TradFi and DeFi options.
You’re in control
Withdraw your funds directly to your wallet in seconds, using your WebAuth.com wallet to approve all transactions.
Powerful API
Designed from the ground up to be flexible and safe, Proton’s API allows applications to leverage what we’ve built in exciting ways.
Lightning fast
Instant transactions, fast settlements, and no downtime. The Proton blockchain makes loans happen at the speed of light.
L-Tokens
Once you deposit a Proton wrapped X-token, for example XBTC, it becomes LBTC on Proton Loan, which represents your share in the lending pool. To simplify the experience for users, by default L-tokens are not withdrawn from the contract.
X-Tokens
When you wrap a cryptocurrency in Proton it becomes an X-token. X-tokens enjoy all of the benefits of the Proton blockchain, including:
- Instantaneous transactions
- No gas fees for end-users
- The ability to process micro-transactions
- Access to Proton Swap
- Easy integration into Proton dApps and projects
Tokenomics
The native token of the Proton Loan ecosystem is LOAN, which is used to reward both borrowers and lenders for using the platform, and govern the platform. Read more on governance here. Initial Distribution:
- XMT (MTL): Received 333 LOAN for every 1 XMT held
- Unstaked XPR: Receive 1 LOAN for every 1 XPR held
- Short Staked XPR: Receive 2 LOAN for every 1 XPR short staked
- XPR-USDC Liquidity: Receive 2 LOAN for every 1 XPR held in the XPR-USDC Proton Swap liquidity pool
- XMT-USDC Liquidity: Receive 666 LOAN for every 1 XMT held in the XMT-USDC Proton Swap liquidity pool
- 90 Day Long Stake: Receive 10 LOAN for every 1 XPR long staked for 90 days
- 365 Day Long Stake: Receive 30 LOAN for every 1 XPR long staked for 365 days
Governance
Individuals who hold LOAN tokens will be able to use them to vote for various decisions for the Proton Loan protocol. Governance will be deployed in time as the platform grows.
Governance decisions will include:
- Which tokens can be collateralized on the protocol to be borrowed or lent
- What the interest rate curves will be for borrowing tokens
- Other similar governance decisions as needed
In this way, the users of Proton Loan can use their LOAN tokens to steer the direction of the protocol, shape it to meet their needs, and exercise community control over this DeFi platform.
