Innovative DeFi Protocol Deepens Liquidity and Drives Efficiency
Orby Network, a leading decentralized stablecoin lending protocol on Cronos, has introduced a transformative initiative: interest-free borrowing of its native stablecoin, $USC. This groundbreaking move marks a significant milestone for the Cronos ecosystem, empowering users to unlock the full potential of DeFi without the constraints of costly interest charges.
As one of the most promising platforms emerging on the Cronos network, Orby allows users to harness the value of their selected crypto assets by creating and borrowing $USC. The introduction of interest-free borrowing further enhances liquidity and capital efficiency, fostering greater economic activity within the ecosystem.
Overcollateralized Stability and Versatile Applications
$USC is a meticulously designed overcollateralized stablecoin softly pegged to the US dollar, serving as a reliable store of value, unit of exchange, and unit of account. Users who borrow $USC retain ownership of their crypto assets, allowing them to capitalize on potential appreciation while actively participating in DeFi activities using $USC.
In contrast to traditional DeFi lending platforms that impose interest rates ranging from 2-6%, Orby Network’s bold decision to support interest-free borrowing is a game-changer on Cronos. This move aims to stimulate economic growth by enabling users to borrow $USC indefinitely without the burden of ongoing interest payments.
Collateralization and Liquidator Incentives
To borrow $USC, users can deposit supported crypto assets as collateral. This secures the loan and protects the protocol from potential losses. Additionally, users have the opportunity to contribute $USC to Orby’s Stability Pool and earn liquidator fees, further incentivizing participation and ensuring the health of the ecosystem.
Similar to other overcollateralized lending protocols, borrowers must maintain the health of their debt positions to avoid liquidation. This ensures the stability of the protocol and the protection of lender funds.
Part of the Cronos Accelerator Program
Orby Network’s selection for the third cohort of the $100M-backed Cronos Accelerator Program is a testament to its innovative spirit and growth potential. The program focuses on early-stage crypto projects, providing mentorship and funding opportunities to foster innovation and drive adoption within the Cronos ecosystem.
Charlotte Kapoor, Head of Innovation Programs at Cronos Labs, praised Orby’s integral role in the burgeoning DeFi ecosystem on Cronos. She highlighted the interest-free $USC borrowing feature as a catalyst for growth, unlocking new financial opportunities for users and strengthening Orby’s position as a cornerstone of the network.
About Orby Network
Orby Network is a leading decentralized stablecoin lending protocol on Cronos. It empowers users to harness the value of their crypto assets by borrowing $USC, an overcollateralized stablecoin, without incurring high or unpredictable interest fees. This enables users to maximize the potential of their digital assets and actively participate in the vibrant DeFi ecosystem on Cronos.