Mon. Jun 21st, 2021
    Decentralized Loans, Free TON, Free TON House, Wiki

    Decentralized loans are a type of financial transaction with cryptocurrency, the transfer of tokens under the obligation to return.

    The blockchain protocol can contain different transaction options: the loan can be secured or unsecured by other assets, issued at interest or without interest.

    Features that distinguish it from a simple bank loan:

    • the service is available around the clock from anywhere in the world;
    • has a high operating speed;
    • may not have a credit score.

    A type of decentralized loan is a “flash loan” — a loan that is issued for a single transaction. In this case, the algorithm of actions may look like this: take a loan — buy tokens with it — sell tokens — return the loan.