📢New Lending Network: USDFI on BNB Chain
Ola Finance is excited to announce the newest lending network deployment with partner USDFI. This marks the 3rd isolated lending network to be deployed on BNB Chain, making it Ola’s most popular chain (by number of networks).
Enter the USDFI Lending Network: https://lending.usdfi.com/usdlend
Meet USDFI
USDFI is a decentralized stablecoin protocol featuring a non-custodial stablecoin also called USDFI. The stablecoin can be utilized in a range of DeFi products and is collateralized by revenue generated from these products, secured by a protocol owned treasury. Currently, USDFI allows its users to perform token swaps, provide liquidity, earn staking rewards, and lend/borrow with a variety of assets on BNB chain. In addition, another ecosystem token named STABLE offers governance capabilities through the popular ve (voting escrow) mechanism. STABLE hosts a number of other functions, such as regulating upward price instability of USDFI, offering staking rewards for ecosystem participants, and allowing users to mint USDFI.
USDFI Lending Network
Upon launch, the lending network is offering lending and borrowing for ETH, BTCB, BNB, USDC, CAKE, STABLE, and USDFI. The following parameters have been set for the initial launch:
New tokens can be added at any time according to USDFI’s governance procedure.
BNB Chain
Binance Chain and Binance Smart Chain have formed together as BNB Chain since February 15, 2022. BNB stands for “Build and Build”, and the BNB token is used for fueling transactions (similar to gas on Ethereum) in addition to serving as a governance token.
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