DEPOCKET SIMPLIFIES LENDERS’ ASSET MONITORING ON MOOLA
What is Moola Market?
Moola is a non-custodial liquidity protocol that provides services for borrowers and lenders on Celo’s blockchain. Moola aims to be a platform where users can optimize their profits and easily access credit.
In February 2021, Moola Market launched a public beta version of the app on the web browser. Lenders receive interest, which is paid back by borrowers. Users can also borrow over-collateralized loans or under-collateralized loans. Over-collateralized loans are loans in which collateral is more valuable than borrowed assets. This is a common method in the current lending services. In contrast, under-collateralized flash loans are loans that accept collateral with a lower value than the borrowed asset. Users are allowed to access this kind of loan depending on their credit level.
- Low fees: With a small fee of 0.01 cUSD or an equivalent amount of Celo, lenders can deposit funds into various pools on Moola in exchange for rewards.
- Attractive rate: Users can borrow up to 75% of the value of their collateral. This is a good rate compared to other well-known platforms like MakerDAO, Compound, and Aave, which have a rate of 67%, 75%, and 75% respectively.
- Non-custodial: Moola does not directly manage users’ assets. The platform uses Valora or any apps that are integrated through Moola APIs to process deposit transactions.
- DAO: Moola members are able to make, vote on, and implement modifications thanks to smart contracts. Proposals can be new function introduction, new market supports, or system-changing plans.
Simplifying lenders’ asset monitoring
With over 11 million dollars of TVL across various pools, Moola is the leading lending protocol on Celo. After the last two integrated major DEXs, Ubeswap and CeloDEX, Moola completes the Celo section on the Depocket dashboard with borrowing and lending pieces. Now, Celo users can take advantage of DePocket to manage their assets and investments on major platforms. Other minor ones will be kept an eye on and integrated in the future.
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