Trittium Launches DeFi Loan Platform
Trittium has announced the launch of its DeFi loan platform, trttLoans. According to the Trittium team, the platform is “the smartest solution to find secure agreements between Borrowers and Lenders.”
Current users of any of the project’s products will be able to access the loan platform using their existing credentials. Once logged in, users can search filter loan results using a number of criteria.
Loans may run from 1 day to up to 2 years and has a minimum value of 50 EUR. Borrowers will be required to deposit a minimum of 75% of the loan value and can obtain loans in BTC, ETH, USDT, or PAX.
Furthermore, to ensure the safety of the platform and protect lenders, collateral sent to initiate a loan is locked by the trttnodes platform. The collateral will be liquidated should its value drop considerably lower than the initial loan amount.
Decentralized Finance, otherwise known as DeFi, appears to be the new buzzword in the cryptocurrency space. In a little over a year, the number of DeFi assets increased by almost 10 times. As at August 14, 2020, the value of locked assets in the DeFi space was over $5.4 billion, an increase by more than 400% from June 1, 2020.
It therefore does not come as a surprise that several blockchain crypto projects are tilting towards this market.