1 Watchlists
EGR Price
Contracts/Explorers:
Funds and Backers
Wallets
No wallets found yet
Egoras microfinance protocol provides uncollateralised micro-credit to small entrepreneurs
IDO
3 Jun — 3 Jun 2021
Raised
$ 200.00K
Price:
$ 0.065
Tokens For Sale:
3,076,923
Platform:
N/A
ATH ROI:
0.43x -57%
Egoras microfinance protocol provides uncollateralized micro-credit to small entrepreneurs. To solve the high-interest rate problem, Egoras protocol introduces on-chain governance where the interest rates are determined by the people, in which no central body or company determine the interest. In other words, the users determine the interest rate. To address the dependence issue, the Egoras protocol uses an on-chain treasury system to make sure that Egoras protocol doesn’t lack the funds or liquidity for the loans and these funds are governed by the people. Finally, the Egoras protocol introduces collateral lending to address over-indebtedness in the microfinance sector. In this regard, small businesses’ assets will be converted to non-fungible tokens and they represent the collateral. These assets will be sold off when the borrower defaults in repaying the loan.
By voting on Egoras, users can support causes that they care about and make an impact:
Your collaterals are represented as NFTs (Non - Fungible Tokens). This means you can transfer your collateral ownership without undergoing rigorous legal works. You can easily claim your collateral after your loan period. All transactions are recorded as NFTs on a public Blockchain, (Thus every transaction is public and immutable).
LayerAI
$ 0.0351
Ronin
$ 3.36
Zero1
$ 0.664
THORChain
$ 5.53
Maple
$ 14.96
PAAL AI
$ 0.347
Cetus Protocol
$ 0.127