LYOTRADE offers crypto loans services

Tuesday 5 July 2022 14:23 CET | News

The LYOTRADE crypto exchange has launched new services to offer loans made with cryptocurrencies.
LYOTRADE is part of the LYOPAY ecosystem, with the vision of making cryptocurrencies easily spendable and usable. The concept of this service is the following: crypto enthusiasts have cryptocurrencies to hold and others to trade. They keep those that hold for the long term. Crypto loans are a way to make these cryptocurrencies available for a period, and then take them back at the end of the loan. 

In exchange for this borrowing, users are given stable USDT, USDC, and BUSD coins that they can use. One can trade or sell them directly. There pay a monthly fee for the service.

The percentage rate ranges from 12% to 16% annually. This interest is calculated monthly and included in the repayment amount. The loan-to-value (LTV) is set at 50% or 70%. LYOTRADE then gives 50% or 70% of the collateral value as a loan. This allows user risk to be minimized and offers protection from the stark volatility of collateral prices.

If the price of a user’s collateral rises, they will receive back the amount they borrowed in the initial currency, plus they will have received the stable coins. They can close the loan at any time. If the price falls, the collateral currency reaches the liquidation level, the collateral will be automatically liquidated, and the loan will be closed.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: cryptocurrency exchange, digital assets, lending, crypto, crypto asset
Categories: DeFi & Crypto & Web3
Companies: LYOTRADE
Countries: World
This article is part of category

DeFi & Crypto & Web3


Discover all the Company news on LYOTRADE and other articles related to LYOTRADE in The Paypers News, Reports, and insights on the payments and fintech industry: