Decentralised Lending Platform TRAVA.FINANCE Surges 343% in a Week

September 21, 2021, 10:00 AM AEST - 3 weeks ago

One of the new DeFi kids on the block has shot up over 300 percent in seven days, making it the top gainer on the Binance Smart Chain (BSC) over the past week.

TRAVA.FINANCE (TRAVA) is a decentralised marketplace for cross-chain lending. What TRAVA does to stand out is that it performs blockchain data analysis to optimise pool parameters to calculate a credit score. This is done to increase profit and decrease risks for all users using the platform.

TRAVA Price Chart. Source: CoinMarketCap

After the coin’s listing and official launch on September 14, it was initially quiet until it broke out with a 343 percent price increase, most of that movement in the past four days. The protocol currently has a US$60 million locked supply and $9.9 million value locked within the protocol.

Last week was a good one for the crypto market with Bitcoin (BTC) rising over 3.24 percent and 10 other altcoins also making considerable gains.

Becoming Your Own Bank

Existing approaches provide only one or a few lending pools with their own parameters, such as borrow/supply interest rate, liquidation threshold, or a limited list of exchangeable cryptocurrencies. TRAVA offers a flexible mechanism where users can create and manage their own lending pools to start a lending business.

TRAVA also offers the credit score function based on financial data on-chain analysis as a useful tool that reduces risk.

Based on the knowledge graph, TRAVA evaluates credit scores for users. Pool owners can define minimum credit scores for pool members to reduce lending risks and offer high Loan to Value ratios for those with high credit scores to stimulate borrowing.

TRAVA allows users to use special assets such as NFT or stock tokens as collateral. Previously, these assets had to be priced through auctions, with auction winners involved in the lending contract to either earn a profit or buy the assets at a low price.

There are various opportunities for people to earn rewards for staking their coins. Check out Crypto News Australia‘s list of the top 10 crypto staking websites for that purpose and getting daily returns.

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