1POOL ICO : Compound like Money Market protocol for LP tokens
Liquidity provider LP tokens were initially issued to Liquidity providers of Automated Market Makers (AMM) to track their share in Liquidity pools. Now, LP tokens are being adopted for a wide variety of economic uses in decentralized finance, farming being the most well-known.
The Defi project, 1POOL. finance, (
https://1pool.finance) which claims its mission as optimizing the use cases of LP tokens, pushes it further. 1POOL is collateralizing LP tokens, making it possible for the users to take a loan using selected LP tokens as collateral. With 1Pool.finance, you can take a loan against your LP tokens of selected AMM. The project if successful will revolutionize the Defi lending market.
1POOL is a decentralized money market protocol, like Compound, but their emphasis is on lending and borrowing based on LP tokens. This is an area still not fully explored, and a whole new experiment in Decentralized finance. 1POOl is a cross-chain protocol, built on the Ethereum main net and Binance Smart chain, and seamlessly connected by a 1POOL token bridge. 1POOL’s yield aggregator is live and running on both chains and 1POOL V2 would introduce Lending protocol, tentatively scheduled in mid-November.
1POOl dual chain ICO goes live on October 8, 12 PM GMT. Visit:
https://sale.1pool.finance Participants can buy 1POOL and 1POOL Bep tokens. The soft cap is 500,000 USD.
The sale ends on October 11th at midnight.
After buying in ICO, the participants can proceed to provide Liquidity tokens to 1POOL pairs in selected AMM, farm their 1POOL LP pairs in 1POOL farms, stake their 1POOL token in staking to earn interest and more 1POOL tokens.
