Tadpole Finance: A More Open DeFi Lending Platform Just Launched
Indodax and Tokenomy launched a decentralized finance project; it calls Tadpole Finance. Tadpole Finance is an experimental project to create a more open lending market, where users can make deposits and loans with any ERC-20 tokens on the Ethereum network. When the development is complete, it opens the possibility for anyone to submit their ERC-20 tokens into the DeFi money markets.
"I feel that the current DeFi lending projects are still very exclusive. It is very challenging for a token to be listed in the money market. Ideally, DeFi should have the same principles as blockchain technology, which is open and inclusive," William Sutanto, CTO of Indodax said.
Tadpole Finance is an experimental project based on Compound Finance. "We learned the existing lending DeFi projects and tried to develop it further. I see Compound Finance as the most solid lending DeFi project to date. With the spirit of open source, we try to push this technology further to make it more open. While paying attention to the security factor," he said.
In Tadpole, new tokens will have a collateral factor of 0% to protect the system from insolvency. This is to prevent severe fluctuations in the token prices that can damage the entire system.
Upon the initiation, this project releases a token calls TAD. TAD is an ERC-20 token used for governing and paying listing fees in Tadpole Finance. Anyone can submit ERC-20 tokens to be listed in Tadpole by paying some TAD as the listing fee. TAD token also allows the holders to vote on proposals for protocol updates in the Tadpole Finance system.
"Total supply of TAD is 1,000,000 TAD. In the beginning, we distribute 20% of the tokens to TEN holders as the token of appreciation for supporting the Tokenomy project. We plan to keep innovating in the blockchain industry, and make sure that our loyal supporters are the one who always gets the initial benefit from our projects," Oscar Darmawan said.
Since October 13rd, TAD distribution began with Genesis Mining Program. Genesis Mining program is the first phase of TAD distribution to TEN holders. To participate in this program, you need to hold some TEN tokens and stake them through https://tadpole.finance. This program will last for approximately 30 days and distribute 200,000 TAD (20% of total circulation).
Later on, Tadpole will distribute TAD through various programs: Platform Liquidity Mining, DEX Liquidity Mining, and Developer Rewards program.
"Platform Liquidity Mining (upcoming) is a reward program to motivate saving and borrowing activities in Tadpole Finance. In addition to the interest, both savers and borrowers will automatically get some TAD token as a liquidity mining reward," Oscar said.
DEX Liquidity Mining (upcoming) is a reward mechanism to ensure TAD's liquidity and the supporting tokens are always maintained on decentralized exchanges. Developer Rewards program (upcoming) is a reward mechanism for all developers involved in developing Tadpole Finance platform.
DeFi is currently still very experimental, but this technology has potential to revolutionize the entire traditional financial industry into a more decentralized way. "That's why we invite all developers to join this opensource project. This project can be a medium to learn more about DeFi, and all developers involved will obtain some TAD as a reward. This is an always win scenario for open source developers."
More information:
Website: https://Tadpole.Finance
Telegram: https://t.me/TadpoleFinanceChannel
Email: [email protected]
Twitter: @Tadpolefinance
