Freeliquid: Next Generation DeFi loan platform

[PRESS RELEASE – Please Read Disclaimer]

There is a problem in crypto right now: around 1.5 billion dollars in stable coins locked into liquidity on Uniswap, earning minimal fees while being frozen. Fortunately, FreeLiquidity “frees” up this liquidity to be used elsewhere, while still retaining the passive income generated. Users will easily be able to increase their passive yield while taking on very minimal increased risk. Best of all, the project just launched and thus you can still get in on the ground floor.

Freeliquid is a decentralized lending platform, forked from MarketDAO, on which you can lock liquidity tokens (LP) and receive a loan (up to 90% of the locked value) in stable coins. However, your locked LP continues to function — receiving the same income from liquidity fees. The FL platform is a first-mover, currently being the only platform to offer such an opportunity.

Currently, the platform is only able to give out loans in exchange for the LP of some select stable coins, although more pairs will be added in the future via governance. The FL token is used in the decentralized governance — allowing holders to vote on many aspects of the Freeliquid Protocol, directly participating in its development. The other token of the platform is USDFL, which serves as the native stable coin. It is issued at a 1:1 ratio to the US dollar value of the provided LP.

The platform is already live with the FL reward program running — which is the only way it will be distributed from now. Additionally, users will have the option to lock USDFL into a savings account (Freeliquid Save) and receive a gradual yield.

In summary

• Decentralized lending platform, locking LPs and receiving stable coins.
• First mover in the space
• Reward program / FL distribution active
• Platform is live
• The project was fair-launched, and FL is only distributed via using the platform/staking for rewards
• Decentralized governance, with a flexible platform.
• More pairs to be added

How to start using the platform

To use anything on the platform, you must first buy USDFL tokens, which can be done via Uniswap. After this, navigate to the Freeliquid website. From there, click “Get started” — after connecting your wallet, you will then have three options :

• Reward
  This is the staking module. After clicking this, you will be given a list of potential pairs that you’re able to lock to receive a yield of FL tokens.
• Save
  Freeliquid Save is accessible on this tab, simply allowing you to stake USDFL tokens for a percentage return. The yield is determined via governance and increasing the longer you leave your investment locked.
• Borrow
  From this tab, you will be able to set up a vault from which you’ll be able to borrow money. The process is quick and easy: all you must do is follow the on-screen instructions.

There is so much to this platform, that it can’t all be explained simply. For more information regarding the fundamentals, check out the codebase from which it is forked — MakerDAO. For a deeper dive into mechanics and the future of the project: check out the resources below.

*The content was written by crypto_mission