Etna Over-collateralized Lending and Borrowing Application

Etna Over-collateralized Lending and Borrowing Application

Hello everyone, we are happy to inform you all that DeBank (over-collateralized lending/borrowing) testing have been going smoothly. A number of bugs and errors were found and have been fixed. With the progress made with debugging, we are on schedule to go live on the 25th as planned. To make Etna DeFi products especially the lending & borrowing application a success and widely adopted, the following initiative and/or mechanism have been implemented: 1. Dual earning for Lenders: Lenders of stable coins to DeBank earn both interest and bonus rewards on their deposits. The bonus APR is rewardingly high and it is dynamic with changes in TVL For this, a total of 10 million ETNA tokens has been set aside to reward lenders on both blockchain for the period of 1 year. 2. Holders of Etna Network’s tokens and NFTs will be able to access INTEREST-FREE Loans indefinitely 3. A range of 500k to 1000k ETNA tokens will be set aside to promote Etna Network and all its products and a handful of contents focused on the current release. This will include lots of community activities especially with community members that have been active and are holders or users of Etna Network’s features, so get the ideas rolling in 😊 At this, we are ready to switch to marketing and promoting mode with lots of initiatives planned. We also welcome suggestions and feedbacks from the community or initiatives that could also be adopted.