Downtown Africa
TRON TRX mortgage lending platform, a decentralized borrowing platform built on TRON network, has been released for public testing, TRON Foundation has said.
The non-profit foundation that backs TRON project enjoins all and sundry to join the internal testing of the TRX mortgage lending platform which has been deployed on the TRON’s Nile testnet.
Temporally named DeLoan, the project has a management coin christened DLN which is used for payment of loan interest. DLN is also used as a lock vote to adjust key parameters of DeLoan like interest rate, to be able to achieve a decentralized autonomy.
Also, the platform has a stablecoin, CRD (Credit), which is pegged to dollar like DAI of MakerDAO. To get loan in CRD coin via the platform, users have to mortgage their TRX assets. However, this does not involve the users trading TRX directly for USDT in their hands
CRD is regarded as a more decentralized USDT that offers similar function with the later. At the moment, CRD cannot be used to purchase other currencies like BTC & ETH, but the Foundation already has it in its roadmap to ensure flexibility.
The DLN token on the DeLoan platform is used for paying loan interest and for building decentralized governing system on the platform as locking of DLN offers DeLoan’s voting rights on proposals. Via DeLoan, the richness of Tron ecology is enhanced.
In November 2019, TRON Foundation launched its project Nile Test Network to get the best feedback from its users.
After announcing the joining of BitTorrent ecosystem through migration to the TRON blockchain, DLive announced that it would discontinue support of the Lino blockchain from April 15, 2020 and the LINO token would no longer be transferable.
However, DLive has now stated that users outside the United States will now get BitTorrent (BTT) Tokens in accordance with the number of LINO tokens they hold.
To create convenience for users outside the US, DLive has now created a means for users outside the said areas to swap their LINO tokens for BTT. BitTorrent urges US users of the LINO token to check a need-to-know list created by the project.
by KHALID LAWAL
