DeBank version 2.0, which is ETNA Network’s lending and borrowing application goes live today! This version supports both Binance Smart Chain and Polygon Chain.
ETNA Network is a blockchain company dedicated to developing interconnected products in DeFi, gaming and NFT applications. DeBank gives users access to over-collateralized loans on the supported blockchain networks.
Built to be more user friendly, DeBank has several built-in tools to help clients benefit from optimal deposits and loans.
DeBank’s latest version also offers supported tangible tokens and whitelisted NFT as collaterals for loans/credits.
After the version is live, BNB, ETNA, Matic, MTB, wrapped ETH, wrapped BTC, 0xPAD and Etna’s native NFT collections will be the acceptable collateral assets.
When the adoption of this app grows, more tokens/coins will be integrated.
On DeBank 2.0, only stable coins (BUSD, USDT on BSC and USDC, USDT on Polygon) can be borrowed
Users can get huge gains by lending their stable coins to the app.
To incentivize lenders, lenders can earn both in stable coins and also in ETNA tokens. Note that the earnings in ETNA are more dynamic, and so early lenders get to earn more.
The APR on accessed loans is zero when Etna Network’s native assets are used as collateral.
Members of the Etna Network’s community are selected as Liquidation-Managers. By being a Liquidation-Manager, one can earn by helping liquidate loans that fall in such health standing. To qualify for a liquidation manager, one has to be a staker of Etna tokens or LP.
The Credit Health tool in DeBank notifies customers when loan liquidation is likely to occur . Liquidation can be prevented by minimum repayment.
The team has also included a new under-collateralized loan mechanics design. With this, users will be able to take out under-collateralized loans instantly and for unlimited duration.
Soon, the application will have a self-listing mechanic. Through this mechanic, other projects will be able to self-integrate their tokens/coins to DeBank as an acceptable collateral asset.
Speaking of crypto loan providers, another lending platform, Nexo, had gone a step further with its services. It recently announced the launch of an ‘NFT Lending Desk’ in partnership with NFT-focused hedge fund Three Arrows Capital.
