Chumhum Finance Coin Price & Market Data
Chumhum Finance price today is $0.001725501403 with a 24-hour trading volume of $435.94. CHUM price is up 28.5% in the last 24 hours. It has a circulating supply of 0 CHUM coins and a total supply of 123 Million. If you are looking to buy or sell Chumhum Finance, Sushiswap (Polygon POS) is currently the most active exchange.
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.