Skip to content Skip to sidebar Skip to footer


Disclaimer: The text below is a press release and is not part of Cryptonews.com editorial content.

The topic of borrowing, lending, and vaults is one of the most intriguing aspects of the cryptocurrency world. Many assets in this class have blocked funds that can no longer be used, or at the very least cannot be used for an extended period of time. Radar is here to change that.

Radar is a decentralized borrowing protocol that allows you to take out 0% interest loans against interest-bearing tokens used as collateral. Loans are paid in USDR – a USD pegged stablecoin.

What assets can I use as collateral?

Radar accepts yield-bearing assets, or even underlying assets that are automatically converted in our UI to their yield-bearing equivalent for a better user experience. To better illustrate, Radar accepts:

  • av3Crv
  • inAVAX
  • qiUSDC
  • qiUSDT
  • qiDAI
  • qiBTC
  • qiETH
  • qiAVAX

These assets can be used as collateral to hit the dollar radar (USDR).

Your collateral value is constantly increasing because USDR is backed by interest-bearing tokens and loans are interest-free. This means that your loan, instead of accumulating debt, actually earns you a passive APY which adds up over time and increases your assets.

How it works Radar work?

Using Radar is as easy as a few clicks.

Step 1 — Deposit the asset you wish to use as collateral.

Step 2—Choose your LTV ratio and receive USDR for your collateral

Step 3 – Use your USDR to buy anything you want.

Radar vs other platforms

qiUSDT vs. pool yvUSDT

How much USDR can I get?

Each asset you choose to deposit on Radar has a maximum loan-to-value (LTV) ratio and total borrowing allowed (TAB) for the token of your choice. The LTV will not change over time unless decided by governance, but the TAB can be increased if needed.

The LTV ratio varies between 45% (for more volatile tokens) and 92% (for stablecoins).

Similar services, such as Abracadabra, require the borrower to pay an interest rate on the loan. Radar does not charge any interest on the amount borrowed.

In the spirit of mocking existing solutions a bit, how about running through a quick scenario. Although slightly different.

You’re a former crypto OG who does regular podcasts and you’ve been asked to deposit $20,000,000 for some of your degenerate friends betting against each other. (“Tch… so unrealistic. Like who would do that?”)

After getting bored after blocking your friends’ bet, you decide to spend it to buy something nice for yourself.

Now some of your friends are trying to explain for an entire evening how moving your stablecoins across 8 different platforms will eventually land you a loan that bears interest that you have to pay, but you get lost halfway through the explanation because frankly no one had time for this.

Instead, as a true DeFi Chad who hates complicated things, you throw your USDT into Radar, and because you’re an end-to-end degenerate, you hit 90% collateral, so you now have 18,000 000 USDR which you can use to buy a new LaFerrari to start with.

(You will not pay any interest rate, regardless of your choice of guarantee).

You arrive at the dealership and the car dealership is a virgin DeFi analyst named Messiah and asks you how much interest you are paying and boasts that he took out a $90,000 loan on which he pays less than 1% interest. Of course, you laugh and tell him that your loan is paying you as it should be and you’re not paying any interest.

As you drive your new LaFerrari with the dealer’s wife in the passenger seat, you can hear the dealer yelling nonsense from behind:

“Sim-sala-bim, fvck that fiat panda and the mim.”

“Hm, what mime could he be talking about?” – you ponder the thought as you leave, then again, whatever, you’re earning too much return on your interest-free loan to worry about that stuff. With a gross APR of just over 10% at the end of the bet, you will have paid off your loan and can keep both the car and the dealer’s wife.

How does this help $RADAR?

RADAR is the token of the radar ecosystem, of which USDR is a part. RADAR has a total supply of 85,000,000. It is currently live on Ethereum and BSC.

Similar to how things have worked so far, the main function of $RADAR is still to be staked in order to gain certain benefits and advantages within the ecosystem, as well as voting rights and a share of the fees generated .

Radar does not charge any interest and instead the protocol fees generated will come from the entry and/or exit fees paid by users when taking out or repaying a loan, as this is the only fee that Radar never takes. 100% of the funds will be held at the Treasury and used if market conditions require.

Risks associated with the use of radar

Risk 1

All positions taken via Radar have a chance of liquidation. When establishing a position, depending on the LTV ratio you choose, a liquidation price is displayed to you. In the event that the asset you used as collateral falls below this liquidation price, the collateral will be sold to cover your debts.

Risk 2

Radar uses smart contracts and because of that, there is always a chance that a bug or exploit could be used by someone. However, thanks to our in-house security experts, no one has been able to exploit Radar products to date.

TL; DR

  • Choose from a multitude of options to use as collateral
  • Every loan you take out is interest free
  • USDR is pegged to USD
  • Debt capitalization is wiped out
  • A share of the profits is intended for redemptions of $RADAR
  • RADAR is for gigachads only.
  • RADAR is the best choice for Cobie if he wants a new LaFerrari

Change it and access your loan at 0%: https://radar.global/

📡 Want to know more about RADAR?

📲 Follow us on Twitter.

🗨️ Join us Telegram group.

📢 Join us announcement channel.

🌐 Visit our Website.





Source link

Leave a comment