The Stablecoin Built for DeFi: MOR Launches as the First Overcollateralized Stablecoin Offering Yield-Generating Collaterals
Growth DeFi is proud to announce the launch of their overcollateralized borrowing platform and stablecoin: MOR.
Successfully launched on Binance Smart Chain, MOR is helping users get the most out of their crypto assets.
MOR is a unique take on the borrowing/lending mechanics made so successful by Maker DAO and DAI, with the crucial addition of being able to mint/borrow the MOR stablecoin with collateral that is earning yield. This means that users no longer need to leave their capital sitting idle when they acquire a loan, and as such they can use their borrowed funds to leverage their farming positions. Because MOR is a stablecoin, borrowing is flexible to the user’s needs, unlike current leveraged farming competitors (and can also be used for general loan purposes).
MOR combines the most advantageous aspects of current platforms into a single platform. With MOR, users can earn while borrowing, leverage both yield-earning and non-yield-earning positions, and take advantage of low, fixed borrow rates.
With MOR users can deposit any of the following:
CAKE
BANANA*
MOR/BUSD*
BUSD/USDC
BNB/BUSD
CAKE/BNB
ETH/BNB
BTCB/BNB
CAKE/BUSD
ETH/USDC
BTCB/BUSD
*Indicates pairs/tokens purchased via ApeSwap, all other tokens/pairs are via PancakeSwap
With these assets as collateral, users can then mint MOR with a collateralization ratio as low as 102% in the case of stablecoin LPs. These can then be leveraged to multiples of up to 50x in order to take full advantage of the APY offered by yield farming platforms.
Alternatively, users can simply borrow/mint MOR in order to utilize extra funds as they would a regular loan, while their collateral appreciates from auto-compounding yield.
MOR’s vaults are also the only project on BSC to have been audited by top-tier firm ConsenSys Diligence, ensuring a top-quality project is matched with equally high quality security.
In addition to onboarding additional collaterals, MOR’s future plans include offering leveraged tokens and expanding beyond BSC — giving even greater scope for borrowers on their preferred assets and chains.
Links
Website | Documentation | Telegram | Twitter | Discord
