ShoeBill Finance: A New Lending Protocol

ShoeBill Finance: A New Lending Protocol

Introduction:

Shoebill Finance is a new concept of DeFi lending protocol within Klaytn that allows users to receive interest-free loans and earn high interest rates by utilizing leverage.

Its now being A Best LST (Liquid Staking Token) Collaterizable Leverage Lending Platform on Wemix, Manta and Klaytn.

Applications of Shoebill Finance:

Borrower:

Existing lending protocols are designed to require borrowers to pay variable and high interest rates. At Shoebill, you can get a loan with an interest rate of 0% if your loan rate is below a certain loan rate.

Some other protocols also offer low-interest loans but require a fee to open or close a loan position. Shoebill has no fees and borrowers only have to pay for gas. Additionally, many of the lending protocols issue their own stablecoins, which introduces pegging risk. Shoebill, on the other hand, allows users to borrow only safe stablecoins such as USDC, USDT or DAI.

Lender:

Shoebill is designed to provide high and stable returns to creditors.

Because staking APY is more stable than market-determined interest rates, Shoebill’s interest rates are more consistent than traditional lending protocols. Additionally, non-loaned liquid funds are deposited in other protocols such as Klayswap to earn additional interest.