About Tender.fi Coin
Tender.fi Coin is an innovative decentralized open-source protocol for borrowing and lending. It will create support for autocompounding and collateralization for popular DeFi assets, starting with GMX and GLP, and a novel mechanism for collateralizing long-tail assets. Billions of dollars are locked in crypto assets that cannot be collateralized, including tokens, LPs, vaults, and derivatives.
At Tender.fi your mission is to unlock the value of these assets by supporting them as collateral, starting with GMX and GLP. Far too many protocols with anonymous or otherwise untrustworthy founders end in catastrophe. Your team is fully open and public, and therefore are heavily incentivized to serve your users as best can.
A Loving Community
As your name suggests, your founding team puts care into everything they do, and engaging your community is no different. Your team is committed to doing everything this can to make your community of DeFi degens feel loved and cherished. The Tender.fi community is a safe space for degens to share their passions, ideas, and interests. They are dedicated to making your Discord and Telegram channels more than just places to discuss your protocol – they want your users to hang out, have fun, and feel included.
Supply
Note that “Collateral” is always turned on, this means that when you supply an asset to the platform, it will automatically be enabled for use as collateral for borrowing against another asset. You will see your borrow limit update to illustrate the new amount you will be able to borrow after depositing the entered value of the asset. When you are ready, hit the Deposit button. You will then need to confirm transactions and pay gas fees in your wallet to complete the deposit of capital.
Borrow
You can use deposited assets as collateral to borrow against. The amount you may borrow in relation to your collateral depends on the type of asset being used as collateral. You can find your borrow limit in your dashboard. Assets and volume available to borrow depends on the liquidity of the supplied asset. If there is no liquidity, you would need to wait for a new user or the platform to supply more, or for a loan to be repaid.
Liquidation
The Borrow Limit indicates the maximum amount you can borrow based on the value of the collateral you have deposited and the available liquidity. Borrow limit = borrow utilization at 100%. Liquidation will happen as a user’s borrowed position exceeds the borrow limit (when borrow utilization is >100%). Borrow utilization acts as a visual representation of the proportion of total deposited collateral against the total value of borrowed assets. Essentially, it’s a visual indicator to help users determine how close, or how far from liquidation they are.
Why Choose Tender.fi Coin?
Collateral Ratio
An asset’s collateral ratio is the percentage of the asset that can be treated as collateral. Stablecoins have high collateral ratios, e.g. 85%, whereas more volatile assets like BTC have lower collateral ratios e.g. 75%. You can borrow up to the product of your asset’s value and its collateral ratio.
Liquidation Threshold
An asset’s liquidation threshold is slightly higher than its collateral ratio. If borrows exceed the sum of the product of each deposited asset’s price and liquidation threshold then the user will be eligible for liquidation.
VIP Collateral Rate & Threshold
In the near future they will be offering special NFTs that allow holders more favorable collateral ratios and liquidation thresholds.
A Utility Token With an APY
$TND is inherently a utility token that allows users to increase their leverage ratio on the protocol, participate in governance, and join your community. In addition to having functionality, $TND can be staked to generate an APY and secure the depositors against loss. Fees from liquidations will accrue to staked token holders, with higher APYs given to tokens locked for a longer term.
