Friday, September 22, 2023
No Result
View All Result
CONTACT
First Crypto News
  • News
  • Bitcoin
  • Ethereum
  • Industry
  • Market Updates
  • Price
  • Coins
  • Press Release
  • News
  • Bitcoin
  • Ethereum
  • Industry
  • Market Updates
  • Price
  • Coins
  • Press Release
No Result
View All Result
First Crypto News
No Result
View All Result

Egoras: The Defi Solution For Uncollateralized Micro-Credit

by firstcryptonews
April 27, 2021
in Press Release
Egoras

Decentralized Finance(Defi) has emerged as one of the biggest success stories of the crypto world over the past couple of years as it offers some of the finest automated banking and finance solutions in a decentralized manner. Right from making way for lucrative passive income opportunities to uncollateralized lending and micro-credit for those who cannot access the traditional banking system.

Egoras is one such defi solution making all the right noises in the defi space. After raising $1.3 million in a private funding round the defi lending platform is already turning into a lifesaver for numerous small entrepreneurs and enterprises.

Egoras intends to solve the issue of high-interest rates on microcredit. It hopes to achieve this by eliminating intermediaries like banks and lenders. Egoras issues loans directedly to the borrowers through a decentralized governance process.

Some of the key features of the Egoras platform include,

Low-Interest Micro-Credit: Generate Egoras stable currency when your credit is approved, and destroy the stable currency when you repay the credit.

Borrow with Zero collateral: No collateral is required for credit on Egoras protocol.

Build your reputation: Build your reputation score and get access to micro-credit from Egoras protocol.

Lend Funds without risking your capital: There is no loss of capital when you participate in approving credits on Egoras protocol. Your capital is released immediately after the credit is approved on the protocol.

Earn high-yield on credits: Earn high weekly interest when you participate in credit governance.

How Egoras Removes the Barrier of Financing For Small Enterprises?

Most of the medium and small enterprises often lack the necessary collateral required by banking systems to sanction loans and financing. This is where Egoras come to their rescue with its defi solution as one doesn’t need collateral to withdraw a loan using the platform. Built on top of the Ethereum network, Egoras works on two token systems, one stablecoin pegged against USD called Egoras (EGS) and another utility token Egoras Right (EGR).

EGS is a decentralized cryptocurrency stabilized against the value of the US dollar, it uses egoras loan governance to respond to changing market conditions and preserve its value against the US dollar. Unlike other popular stablecoins whose value is backed directly by USD, it’s backed by crypto collaterals.

EGR is the fluctuating token of egoras protocol and it plays a role in stabilizing EGS and the governance of the loan protocol. EGR is required for paying the interest and this means that as the adoption and demand for the Egoras Credit system increases, there will be additional demand for EGR.

After successfully launching its product in September 2020, effectively allowing small businesses in Africa to get microcredits on the Egoras microfinance protocol, Egoras is set for its token generation event coming in April 2021.

Egoras is currently operating on the Ethereum blockchain, and any organization can issue low microcredit from Egoras’ smart contract. However, Egoras will migrate to the Binance Smart Chain at the TGE. Egoras granted loans has increased geometrically from 15% to almost 40% since inception. The loan repayments have been fantastic due to the 2% interest rate. It’s indeed very flexible

To learn more about Egoras visit Egoras.com

Stay Connected :

Twitter : https://twitter.com/egorasmarket
Facebook : https://www.facebook.com/egorasmarket/
Instagram : https://instagram.com/egorasofficial
Telegram : https://t.me/egorasmarket
Youtube : https://www.youtube.com/channel/UCHfi5EwXig46xp5Dx8hVBHQ
Github : https://github.com/EgorasMarket

Related Posts

Bridgeman Images and ElmonX Forge Exclusive Partnership to Pioneer High-Quality NFT Art

Bridgeman Images and ElmonX Forge Exclusive Partnership to Pioneer High-Quality NFT Art

by firstcryptonews
September 20, 2023
0

Bridgeman Images, the world's leading specialists in licensing fine art, cultural, and historical media for reproduction, are delighted to announce...

FameEX Focuses on Advanced Security Measures to Ensure the Safety to Users’ Assets

FameEX Focuses on Advanced Security Measures to Ensure the Safety to Users’ Assets

by firstcryptonews
September 20, 2023
0

In a rapidly evolving crypto sector marked by significant events, such as the U.S. Fed raising the interest rate again...

The world awaited metaverse intelligent crypto trading MICT 2023 September 11 has launched globally

The world awaited metaverse intelligent crypto trading MICT 2023 September 11 has launched globally

by firstcryptonews
September 19, 2023
0

This is the first platform in the world that integrates high frequency algo trading AI gaming return on investment. The...

Space Alpaca RPG GameFi is launching, heralding the next generation of Web3.0 traffic platforms

Space Alpaca RPG GameFi is launching, heralding the next generation of Web3.0 traffic platforms

by firstcryptonews
September 10, 2023
0

Recently, Space Alpaca, a strategic Play-to-Earn RPG game that combines yield farming and battle gameplay, announced its official launch. Embracing...

TriWorld: Set to Launch on September 2nd. Engage in Financial Innovation for a Shared Prosperity of Tomorrow

TriWorld: Set to Launch on September 2nd. Engage in Financial Innovation for a Shared Prosperity of Tomorrow

by firstcryptonews
September 6, 2023
0

Bridging the Future, Creating Value. Amidst the tidal wave of the digital economy era, blockchain technology continues to spearhead innovations...

Exploring Noahswap: Non-Performing Assets Solutions in Web3 Space

Exploring Noahswap: Non-Performing Assets Solutions in Web3 Space

by firstcryptonews
September 5, 2023
0

Noahswap is the World’s First Non-Performing Asset (NPA) platform, dedicated to delivering innovative solutions for cryptocurrency investors, assisting users in...

Next Post
quiverx

QuiverX Capital Has Launched its Wallet with 1inch.exchange Integration and MoonPay On-Ramp

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Two Main Factors That Can Speed Up The Next Major Bull Run To New All-Time High Values

Two Main Factors That Can Speed Up The Next Major Bull Run To New All-Time High Values

4 years ago
Exploring Noahswap: Non-Performing Assets Solutions in Web3 Space

Exploring Noahswap: Non-Performing Assets Solutions in Web3 Space

2 weeks ago
RFOX VALT Launches AI-Enabled Metaverse Apartments for Sale

RFOX VALT Launches AI-Enabled Metaverse Apartments for Sale

8 months ago
War Pigs Revolutionizes the Future of Investments!

War Pigs Revolutionizes the Future of Investments!

1 year ago
Neuroni AI Transforms the Digital World as the Ultimate Iteration of AI Innovation

Neuroni AI Transforms the Digital World as the Ultimate Iteration of AI Innovation

6 months ago
TiFi Echoes its Existence in Crypto Web Through Strategic Partnerships and More

TiFi Echoes its Existence in Crypto Web Through Strategic Partnerships and More

1 year ago

First Crypto News

First Crypto News

First Crypto News is the Fastest Crypto News Portal. We Bring the Best and We Bring it Fast.

Bitcoin

Amid Chinese Crackdown, America’s Foundry USA Mining Pool Enters Top Ten Spot

Amid Chinese Crackdown, America’s Foundry USA Mining Pool Enters Top Ten Spot

June 21, 2021

Recent News

ElmonX Unveils ‘Moona Lisa’: A Digital Collection by World-Famous Street Artist Nick Walker

ElmonX Unveils ‘Moona Lisa’: A Digital Collection by World-Famous Street Artist Nick Walker

September 6, 2023

Press Release

Bridgeman Images and ElmonX Forge Exclusive Partnership to Pioneer High-Quality NFT Art

Bridgeman Images and ElmonX Forge Exclusive Partnership to Pioneer High-Quality NFT Art

September 20, 2023

© 2020 First Crypto News

No Result
View All Result
  • Home
  • World
  • Science
  • Tech

© 2020 First Crypto News