Stablecoins:  0 Market Cap:   24 Vol:   USDT Dominance:  0.00%
Nuo

Stablecoins accepted by Nuo

About Nuo:

Nuo is an open financial system with the mission of creating a peer to peer debt marketplace, using a decentralized and transparent debt platform. The vision of the enterprise is to rewrite the global debt on the blockchain. 

The DeFi (Decentralized finance) application provides a non-custodial meaning fund, which means that the funds in an account can only be accessed by the user and not the network itself. The system only uses Ethereum-based assets.

In this network, you can operate either with these crypto-assets: ETH, KNC, ZRX, MKR, REP, BAT, WBTC, USDC, LINK, TUSD, SNX, and DAI.

The platform's value is currently 10.7 million dollars and is intended to provide a network where you can make a return with lendings or obtain access to capital through borrowing. Lending applications such as Nuo are trying to decentralize and democratize a nucleus function of the financial economy. Instead of an individual going to a bank to secure a loan, lending applications may be a viable choice.

 

How Does Nuo Network Work?

This network is based on lenders and borrowers. To use Nuo's platform with the aim of operating assets will be needed to create a Nuo account. The users must transfer ETH or an ERC-20 token as the network only works with this kind of cryptocurrency. In Nuo, you can do three main activities that are: lending, borrowing, and margin trading.

  • Lending: To lend in Nuo's platform, you must first fund their Nuo smart contract to create the debt reserve. The debt reserves are pools of ETH or an ERC-20 token employed to lend money to the users, and they receive yearly interests, in which the calculation of the annual premium rate (APR) relies on. These reserves are combined with others in order to fund the loan requests. The transfer of the initial funding price will be into a Nuo's user account automatically. When you lend using this platform, you can be sure of your earning because of the interest generated for being part of a pool at the moment in which a loan is repaid.
  • Borrowing: To borrow money in this network, you must previously select a digital asset and set up collateral in the event of default. The default can happen only by failure to repay the loan, or because the collateral value is falling close to the loan amount. When the loan details are checked, the loan will then be matched to a debt reserved for the purpose of being funded. Intending to borrow money, you must know that there is a fixed interest in every loan that must be paid back. The measure of interest paid will depend on the length of the loan and the availability of currency wanting to be borrowed.
  • Margin Trading: With a view to margin trade, a user must first select a cryptocurrency to go short or long on and then set up a collateral amount, speculating that a digital asset's value will go up or down. The trade is created once you have signed a smart contract transaction. Depending on the volatility of the digital asset used as collateral will be the amount of the liquidation price. With Nuo, users can margin trade with more than thirty trading pairs beyond four markets, with a maximum leverage of 3x.
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