Token Utility
Whenever there is a fall in the price of NFTs to the extent that it crosses the risk threshold, meaning that a further price reduction might lead to the price becomes lower than the loan amount; the borrower would have to extend their leverage position to avoid getting liquidated. They can do so with additional leverage by depositing STRIP tokens of the leverage value.
The token would function as a native platform utility token used to pay fees for availing different platform services that include but are not limited to commission payment, borrower fee, lender’s interest, liquidity penalty etc.
Implementing project governance will help us bring transparency and trust to the platform. As we build a decentralized system, STRIP tokens would drive every significant decision on the platform like updates, airdrops, burn schedule, developer and community grants etc. This will also help us involve the community as the holder would have the right to propose and vote.
Under both P2P & Pool Lending, we will incentivize users to extend liquidity to the platform. In pool lending, we will create liquidity pools that will invite participation from time to time. To incentivize participation, we have an LP tokens program.
Last modified 1yr ago