LuminFinance
@LuminProtocol
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fixed-rate lending; incentivised borrowing Telegram:
Joined February 2023
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🚀 Announcing Lumin Finance x GemPad Launchpad!
🌟 Get ready for the launch on
@TheGemPad
!
A new era of lending begins here!
#LuminFinance
#DeFi
#Launchpad
More details on the thread!
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This is the second part of our thread compilation of how
@LuminProtocol
works!
You can find part I here:
For our new followers, here is an explainer of how
@LuminProtocol
works!
As there is much to read, we will share a few topics each time!
Difference between Fixed Interest x Projected APY
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🌟 Introducing Lumin Finance, a decentralized Peer-to-Peer fixed-rate lending and borrowing protocol launching on
@Arbitrum
!
Powered by the $LUMIN token, we offer cutting-edge solutions for financial control and value exchange. Key Features: 🧵👇
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🎉Thanks, everyone! We reached the Hard Cap! 🎉
If you missed this opportunity, don't worry! You will be able to buy $LUMIN from our liquidity pool on
@Balancer
tomorrow.
Stay tuned for more updates!
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🎇📢 Big news: The launch is scheduled for mid-December!
Later this week, we will give you an in-depth view of everything related to the launch and the next steps!
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🎇🎇We are thrilled to announce that we successfully sold out our $225K presale!
Thanks to everyone for your support and trust in us. You can find the presale stats here:
We are looking forward to our next steps and our launch on Arbitrum!
#Arbitrum
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🚀 Exciting News from Lumin Finance! 🚀
We're thrilled to share insights into our journey of ensuring top-notch security for our DeFi platform through comprehensive Smart Contract Security Audits. A thread 🧵👇
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Testnet Launch - Step 1
* User onboarding, depositing funds, withdrawing funds, observing protocol activity.
Today we are starting our Testnet Launch with Step 1! Give it a try, and let us know what you think!
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You asked, and we answered!
Next steps for Lumin Finance in the near future!🌟
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THE CLAIM IS LIVE!
For GemPad participants, access:
For presale participants, access:
TRADING IS LIVE!
Go to on
@arbitrum
and use ETH to buy $LUMIN!
LIQUIDITY POOL
Liquidity is in place on our
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🚀 Lumin Finance Dev Update! 🚀
Exciting times ahead as we've made significant progress on our platform. Here's a quick breakdown for everyone 👇
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For our new followers, here is an explainer of how
@LuminProtocol
works!
As there is much to read, we will share a few topics each time!
Difference between Fixed Interest x Projected APY
Looking for steady returns while lending your capital? For fixed rate when borrowing?
At Lumin Finance, we believe in the power of combining fixed interest rates and Peer-to-Peer lending!
Let's dive into why this combo is a better option than APY in a lending pool. 💪📈
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Looking for steady returns while lending your capital? For fixed rate when borrowing?
At Lumin Finance, we believe in the power of combining fixed interest rates and Peer-to-Peer lending!
Let's dive into why this combo is a better option than APY in a lending pool. 💪📈
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Have a look at the Lumin Finance video from Ceazor.
Although the liquidation part isn't entirely correct (lender gets his full deposit first before a split happens & liquidator doesn't need to stake the token), he did an incredible job.
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Loans on Lumin Finance! 🏦💰
At Lumin Finance, we offer loans with flexible parameters to help you make the most of your collateral.
Let's dive into all available choices.
#LuminFinance
#Loans
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Following the successful raise on
@TheGemPad
, now it is time to enable the token claims!
This will happen 19:00 UTC today, Dec 22nd, 2023!
For GemPad investors, the claim will be made on the GemPad page:
For presale investors, you will access
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👀👀
Currently wrapping up a peer-to-peer lending platform audit. Any lending/borrowing/repayment/liquidation resources that you think can help me get an extra finding on it? These types of projects always have high complexity so high bug count as well
Promise to share report soon🫡
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Status Update on the Testnet Launch
Good evening everyone.
We're working hard to finalise the testnet. We aim to create a smooth user experience, but this is taking a little longer than expected. We're keen to make the best first impression we can.
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🚀 Just submitted our request to list Lumin Finance on CoinGecko!
Request ID: CL3012230087
Coingecko Terminal link:
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📣 Testnet Launch!
📅 Wednesday, 12.07.2023
Featuring:
✅ Multi-asset collateral
✅ Shorter terms duration: 30 min
✅ Liquidation engine
And much more!
Get more info on our Telegram channel!
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🌟 Lumin Finance believes in rewarding its borrowers!
We allocate 15% of the total $LUMIN supply, totalling 1,500,000 tokens, for the borrowers.
This incentivisation acts as a powerful flywheel, encouraging active usage of our platform.
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Looking to put your capital to work and earn a return?
Lumin Finance offers a powerful solution for lenders. You have full control over your funds and can set your own parameters.
Let's explore the benefits! 💰💪
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📢The sale is live!📢
• 💰 Payment token: ETH
• 📈 Min/Max Investment: 0.05 - 2 ETH
• 💼 Softcap: 23 ETH
• 🎯 Hardcap: 69.5 ETH
$LUMIN price in USD: 0.35 USD
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Testnet New Launch Date
After carefully reviewing all the processes involved in our launch, the team decided to set the new date to 19.07.203, next Wednesday, 18:00 UTC.
The 2nd Presale Round will be extended to 23.07.23, 18:00 UTC.
Learn more about our staged deployment in 🧵
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📣AMA Reminder!
Jmcadg1 & Lumin Edison will join
@CryptoTalkzInfo
for an AMA about
@LuminProtocol
!
Prepare your questions and join us!
⏰: 2 PM UTC
📍:
@CryptoTalkzInfo
Twitter Space
🔔:
PS: They are running a contest, and you can get some $LUMIN 🤑
📣 We are excited to announce our next
#TwitterSpacesAMA
with Lumin Finance on 18th July at 2 PM UTC
💰 Reward : $100 $LUMIN
🏠 Venue :
〽️ Rules
1⃣ Follow
@LuminProtocol
&
@CryptoTalkzInfo
2⃣ Like & RT
3⃣ Comment Questions & Tag 3 Friends
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🔔 AMA reminder!
@LuminProtocol
will be on
@GetYaFaceMelted
TG for an AMA session today!
🕒 3pm (London) / 4pm UTC
📌Hosted at:
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Hi everyone!
We want to give an update on development, so let's start in short order!
An initial thank you to everyone who has participated in the testnet and submitted findings so far.
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Here is a quick update on our side!
Many things are happening under the hood right now as we prepare to advance to Step 2 of our testnet.
Issues identified in Step 1 relating to slow data updates and RPC node communication are being tackled by implementing a decentralised
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🖼️ NFT technology: The loans are held as tradable assets in our marketplace, unlocking new possibilities for liquidity and secondary market participation.
#NFT
#Liquidity
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The first governance proposal is out!
The LIP-001 () is about the presale: Close it or not?
To be able to vote, go to our snapshot page, connect with the address that you participate in the presale and click on the "Join" button!
More information:
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In a nutshell:
We will deploy our platform on the testnet and, a few days later, have our second funding round.
That will be followed by completing the platform's smart contract audits and the official platform launch.
With everything up and running, $LUMIN in a Launchpad🚀
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💰 Interest Payments on Lumin Finance 💰
Loan durations on Lumin Finance are based on 30-day terms, up to a maximum of 300 days (10 terms). And the interest payment is made by each term.
Let's explore how this works!
#LuminFinance
#InterestPayments
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Check all v2 features and the rest of the roadmap on our medium article!
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Unstaking:
When $LUMIN is unstaked, it remains locked for 30 days, during which it does not participate in the fee sharing.
During this time, these tokens can't be transferred or swapped.
When it is no longer locked, the NFT can be destroyed to claim back $LUMIN.
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We will deliver more details on each topic in the next few days!
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🔁 Token Flow: At Lumin Finance, we believe in creating a strong circulation flow and a deflationary supply.
Our unique mechanisms, including fee sharing, buyback-and-distribute (BBD), and buyback-and-burn (BBB), benefits all ecosystem participants.
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🔒 Liquidations on Lumin Finance - Part I 🔒
A loan is at risk of liquidation when the value of the collateral drops below the required minimum.
Let's explore how liquidations work on Lumin Finance.
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The distributed $LUMIN tokens are staked and locked for 12 months.
This locking mechanism ensures that borrowers are committed to the platform, aligning their interests with the long-term success of Lumin Finance.
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📣Starting in 10 min!
Jmcadg1 & Lumin Edison on
@CryptoTalkzInfo
's AMA to talk about
@LuminProtocol
!
See you there!
PS: They are running a contest, and you can get some $LUMIN 🤑
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In this article, we go into detail on the audit report done by
@pashovkrum
, explaining all findings:
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🎆The full-fledged Lumin Finance v1 is available on Arbitrum Sepolia for testing!
🚀 Access it on
☑️ Lending
☑️ Borrowing
☑️ Fee Sharing
☑️ Staking
☑️ Liquidation
Need ETH to interact with the app? Get it at
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📢 Following the results of the Snapshot vote, the presale was officially closed by Nov 16th 12:00 AM UTC!
Any funds sent after the results will be returned to the sender's address, minus network fees.
🎇 Stay tuned for the next steps!
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🔥 To maintain a healthy ecosystem, any surplus $LUMIN tokens that cannot be distributed are burned.
This burn mechanism prevents token inflation and increases the scarcity and value of $LUMIN tokens over time.
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🔄 In cases where the total $LUMIN to be distributed exceeds the daily maximum emission, the distribution is proportionally reduced.
This ensures fairness and prevents any concentration of rewards.
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Want to know more?
🌐 Website:
📚 Docs:
🐦 Twitter:
💬 Telegram Group:
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🤔
I was lucky enough to audit code using OpenZeppelin-contracts v5.0.0 new access control management solution.
It's confusing at first, but after a few hours you clearly see the benefit. Code's cleaner, more cohesive and you can reason about the authority model of an app quicker.
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For our new followers, here is a thread compilation of how
@LuminProtocol
works!
As there is a lot to read, we share a few topics each time!
Difference between Fixed Interest x Projected APY
Looking for steady returns while lending your capital? For fixed rate when borrowing?
At Lumin Finance, we believe in the power of combining fixed interest rates and Peer-to-Peer lending!
Let's dive into why this combo is a better option than APY in a lending pool. 💪📈
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Utility, enhanced: NFTs can be transferred, split or merged with another NFT.
The NTF "power", boosted by the multiplier, is used for governance as well.
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Want to know more?
🌐 Website:
📚 Docs:
💬 Telegram Group:
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We will have an AMA today, 16:00 UTC, with
@BrianShiitake
on
@CoinLaunchAMA
TG channel!
Come and have a look!
Link to the AMA channel:
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⏰ At launch, the daily $LUMIN emission for the borrower incentives will be 500 tokens/day.
When we move to a DAO governance, the emissions will be governed by the DAO, ensuring community-driven decisions.
#CommunityEmpowerment
#DAO
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📈Platform Fees Utilisation📈
💡 Lumin Finance charges borrowers a platform fee of 10% on the total value of the interest to be paid for a loan.
Let's see how these fees are distributed within the Lumin ecosystem.
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❗️ In this scenario, the remaining tokens for distribution would be calculated as follows: 500 - 11.1 - 3.33 = 485.57 $LUMIN.
These excess tokens will be burned to maintain a balanced distribution system.
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NFT Locking: $LUMIN locked in an NFT.
We lock your $LUMIN in an NFT, adding a layer of security and functionality.
A multiplier is added to increase the rewards earned and is based on the number of terms left to lock:
10 terms = x2;
5 terms = x1.5;
1 term = x1.
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💰 Taking into account the value of 1 $LUMIN = $0.30, the distribution for Loan 1 would be 11.1 $LUMIN ($3.33 / $0.30) and for Loan 2, it would be 3.33 $LUMIN ($1 / $0.30).
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Cross-chain Collateral Assets: Explore payment options beyond the main chain.
When the Lender agrees to cross-chain collateral, the borrower can repay the interest and loan on another chain and won't bridge every term's payment. 🌐
#CrossChainPayments
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💡 Additionally, consider Loan 2: $1,000 at 6% interest for 2 terms (60 days), with a total interest of $60.
The daily interest value for this loan is $60 / 60 = $1.
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Want to know more?
🌐 Website:
📚 Docs:
💬 Telegram Group:
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📊 Let's break it down with an example!
Suppose Loan 1 is $10,000 at 1% interest for 1 term (30 days), with a total interest of $100.
The daily interest value for this loan is $100 / 30 = $3.33.
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💼 Fixed-rate returns: No imprecise APY calculations.
✅For lenders, security of knowing exactly what they will receive!
✅For borrowers, better planning and the possibility of lower rates!
Enjoy the stability and predictability that fixed-rate lending brings to the table.
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📢The LIP-001 voting ends on Nov 16th at 12:00 AM UTC!
Come and cast your vote:
More information:
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🚀 Join Lumin Finance 🚀
Explore Lumin Finance for secure lending with transparent liquidation mechanisms. More info here:
🌐 Website:
📚 Docs:
🐦 Twitter:
💬 Telegram Group:
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💸 Each day, all active loans on Lumin Finance receive rewards in $LUMIN tokens.
Borrowers are entitled to receive tokens equivalent to the dollar value of their daily interest. This ensures a fair and transparent distribution mechanism.
#Rewards
#DeFi
🔑Borrowers play a crucial role in lending, as they take the capital and put it to use.
At Lumin Finance, we understand the importance of incentivizing borrowers and actively promoting platform usage.
Let's dive into how borrowers can benefit from using Lumin Finance.
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🎉The 2nd Presale Round Starts now!
🚨Important information:
☑️ Only use the addresses provided on
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Click on deposit or withdraw to move your assets and follow your wallet instructions.
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💱 Collateral Distribution Example 💱
Let's say $12,000 worth of collateral is liquidated. Here's the breakdown:
$10,000 to the lender;
$500 to the liquidator, stakers, and protocol each;
Up to $500 to the lender, based on remaining interest.
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There you see your Dashboard, where you can deposit and withdraw assets.
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⚖️ Incentives for Staking ⚖️
Staking $LUMIN tokens allows participation in liquidation situations.
The more you stake, the more you can participate. This does not apply when liquidating your own loan.
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🌐 Token Utility: Our platform is powered by the $LUMIN token, which plays a central role in our protocol.
Active holders of $LUMIN benefit from its utility within the protocol and future governance rights in the DAO.
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⛔️ Not a Bad Thing ⛔️
Liquidations are a crucial protection for lenders. Vigilant users and bots play a key role in this process.
Regularly checking your status and adding collateral when needed is essential.
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Asset Type: Choose from USDC, USDT, ETH or ARB
We've started with the most popular assets as collateral options and will actively explore additional niche options. Pending DAO approval 😉
More opportunities await! 💼📈
#AssetType
#Collateral
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💡 Protocol Rewards: Unlike most DeFi lending protocols, Lumin Finance rewards all participants in our platform: the lender, the borrower, and the staker.
The borrowers have extra incentives:
🤯Every day, all active loans are rewarded with $LUMIN equal to their daily interest.
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🔒 Liquidations on Lumin Finance - Part II 🔒
More info on what/how/who/when a liquidation can happen on Lumin Finance!
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First, a visualisation of where $LUMIN is used in our protocol.
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🔑Borrowers play a crucial role in lending, as they take the capital and put it to use.
At Lumin Finance, we understand the importance of incentivizing borrowers and actively promoting platform usage.
Let's dive into how borrowers can benefit from using Lumin Finance.
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Accepted Interest Assets: USDC, USDT, ETH.
Repay the interest using the assets you're comfortable with.
We accept USDC, USDT, and ETH to make the process convenient for you. 💳💱
#InterestPayment
#Flexibility
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💸 Collateral Distribution 💸
The collateral that is liquidated is distributed as follows:
Lender: Receives collateral as repayment of the outstanding loan.
Liquidator, Stakers, and Protocol: Each receives 25% of the remaining balance.
Lender: Up to 25% of the balance.
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💰 Peer-to-Peer: Each loan facilitated on Lumin Finance is individualized and unaffected by others on the platform.
The lenders set up the interest and term (duration) they want for the capital they’re providing.
The borrowers choose the conditions that better suit their needs.
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Stay tuned for the next part, and you can find more info at and drop some questions in our TG channel! ()
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💔 Liquidation Consequences 💔
When a loan is liquidated due to insufficient collateral, the borrower loses the provided collateral.
However, the borrowed assets remain in the borrower's ownership.
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The better the reporting quality, the greater the rewards.
We will post a Medium article soon to give a more in-depth description of how this has been planned.
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This is the end of this little walkthrough!
Remember that you can report any bugs found! For detailed instructions on how to do that, go to our Medium article:
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🔒 Triggering Liquidation 🔒
Any user staking $LUMIN worth at least the share they will get from liquidating a loan can trigger liquidation.
Borrowers can prevent liquidation by increasing their collateral.
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Liquidation Collateral Value: Between 120% and 150%.
We prioritize your collateral safety. Stay over these numbers!
The liquidation risk level depends on the collateral you provide, ensuring a secure borrowing experience. 🛡️💼
#RiskManagement
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The testnet will be split up into stages so that we can collectively focus on polishing the UI from here.
As the testnet progresses, the team will review every reported bug and issue feature by feature.
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Interest Rate: Set between 2% and 12% based on the full loan term.
Enjoy the power to determine your own interest rate.
Find the sweet spot that suits your financial strategy. 📈💰
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This is the second part of our thread compilation of how
@LuminProtocol
works!
Now talking about liquidations, $LUMIN tokenomics, and more!
Liquidation mechanism - part I
🔒 Liquidations on Lumin Finance - Part I 🔒
A loan is at risk of liquidation when the value of the collateral drops below the required minimum.
Let's explore how liquidations work on Lumin Finance.
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Incentivized borrowing: Find the terms that suit you.
🔑Borrowers play a crucial role in lending, as they take the capital and put it to use.
At Lumin Finance, we understand the importance of incentivizing borrowers and actively promoting platform usage.
Let's dive into how borrowers can benefit from using Lumin Finance.
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Useful links:
🌐 Website:
📚 Docs:
🐦 Twitter:
💬 Telegram Group:
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📉 The Risk Threshold 📉
Joking aside, we want you to keep your loan safe. 😉
To avoid liquidation, the collateral value should not dip below 120% of the loan value. Keeping a 10% buffer is recommended to absorb market fluctuations.
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💰 Collateral Breakdown 💰
For a $10,000 loan, the collateral requirements are as follows:
$10,000 = 100% core collateral
$2,000 = 20% liquidation collateral
$1,000 = 10% collateral buffer
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