Bitcoin
Ethereum
XRP
Lido Staked Ether
Wrapped Bitcoin
TRON
Avalanche
What was the highest price for Chumhum Finance?
Chumhum Finance hit an all time high of on N/A.
What was the lowest price for Chumhum Finance?
Chumhum Finance had an all time low of on N/A.
What was the 24 hour trading volume of Chumhum Finance?
The 24 hour trading volume of Chumhum Finance is .
ChumHum Protocol (“ChumHum”) is an algorithmic-basedmoney market system designed withan intent of enabling a complete decentralized finance-basedlending and credit system.ChumHum helps users make efficient use of their cryptocurrenciesby supplying collateral to thenetwork which can be borrowed by pledging over collateralizedcryptocurrencies.
This helps increating a secure lending ecosystem where the lenderreceives a compounded interest rateannually (APY) which is paid per block, while theborrower pays interest on the cryptocurrencyborrowed. The interest rates are defined by the protocolusing a curve yield, where the rates areautomated based on the demand of the specific market,such as Bitcoin.
The main difference ofChumHum from other money market protocols lies inthe ability to use the collateral supplied tothe market to not only borrow other assets but alsoto mint synthetic stablecoins withover-collateralized positions that helps in protectingthe protocol. These synthetic stablecoinsare just backed by a basket of fiat currencies butalso by a basket of cryptocurrencies.
