The first Collateralized Debt Position protocol backed by XRP
Ēnosys Loans is a friendly fork of Liquity V2, a decentralized borrowing protocol that allows users to take debt against various tokens as collateral. Borrowers are issued a stable currency backed by their collateral, and are able to set their own interest rates.
Collateralize
Ēnosys Loans currently allows borrowing CDP against FXRP, stXRP, wFLR and sFLR at various LTVs and Mint caps. wFLR continues to earn Delegation Rewards when used as collateral.
Borrow
Mint CDP - a soft-pegged stable currency - in a decentralized manner by providing and borrowing against your own collateral at a user set interest rate.
Earn
75% of protocol revenue is earned by CDP deposited in the Stability Pools. Additional incentives will be available in the form of Apsis and rFLR.
What makes borrowing in Enosys Loans so unique?
Ēnosys Loans allows users to borrow the stablecoin - CDP - on their own terms. Borrowers can choose and adjust the rate they are willing to pay for their loans. Borrowers will establish market rates in accordance with their individual risk tolerance without relying on governance or algorithm rate management. Each collateral will also have their own respective borrow market which allows room for a market of rates to develop.
Ēnosys Loans is also the first Collateralized Debt Position protocol using XRP as collateral.
All of this makes for a highly capital efficient, secure and decentralized borrowing experience which cannot be matched anywhere else.
How can I earn yield with Ēnosys Loans?
The yield comes from three sources:
- Interest payments: Each borrow-market funnels 75% of the of its revenue to its Stability Pool depositors. This is paid out in CDP.
- Liquidation gains: Your CDP will be used to liquidate under-collaterized loans, effectively buying their collateral with a ~5% discount. This is paid out in the collateral asset.
- Incentives: Stability pool stakers are further incentivized with rFLR and Apsis.
Fee Distribution
Ēnosys Loans Stability Pool Participants will earn a share of the fees relative to their share of the total staked amount.
75%
Loans Staking Participants
20%
Ēnosys Team
5%
APY Cloud
