PEKO PROTOCOL
Peko Protocol is a decentralized, transparent and non-custodial lending protocol built for layer2 chains where users can participate as lenders or borrowers in isolated lending pools. Peko Protocol aims to build high-velocity markets for more traditional crypto-asset lending services, with one unified margin account, users can earn interest on deposits, borrow from shared liquidity pools against collateral.
At launch, Peko Protocol will enable borrowing and lending money markets across a set number of assets, with community governance expected to be fully implemented by Q4 2023.
Key Features
1. Lending and borrowing: Lenders can lend many different types of assets to earn interest. This interest comes from organic borrowers as well as leveraged yield farmers who borrow assets to increase their farming positions.
2. Open governance: Fully unite the power of the community through governance incentives and expand the influence of the community.
3. Staking: Provide incentives for stakers.
Supply and Borrow
Each lending pool in Peko Protocol is associated with a DEX and a token pair. The following high-level information is provided for each lending pool:
- Total Supply — The total amount of tokens supplied to the lending pool
- Total Borrowed — The total amount of tokens borrowed from the lending pool
- Borrow limit — The ratio between Total Borrowed and Total Supply
- Supply APY — The current effective APY earned by lenders for supplying tokens
- Borrow APY — The current effective APY paid by borrowers for borrowing tokens
- Supply
Users can supply assets to the protocol and immediately begin earning passive interest. The interest rates are variable and will fluctuate based on the utilization rate for the given asset.
Users can withdraw their supplied assets at any time, as long as the utilization rate for the asset will be less than 100% after the withdrawal. If the withdrawal will raise the utilization rate to 100%, the withdrawal will be temporarily unavailable (note: if this does occur, it will be a very expensive situation for borrowers, and lucrative for suppliers)
Users can also designate a percentage of their supplied assets as collateral. Assets not designated as collateral will not be subject to liquidation and will continue to accrue interest. Users can manage which assets are designated as collateral (and what percentage of each asset) at any time.
Supported Assets
$SBTC $USDC $Linea
- Borrow
Users can borrow against their supplied assets on Peko Protocol. All positions must be over-collateralized. If the value of a user’s collateral drops below the minimum collateral ratio, their collateral will be liquidated to pay off their debt.
On Peko Protocol, each asset has a unique minimum collateral ratio, as each asset carries unique risk. (Currently, all asset collateral ratios are set to 80%)
The aggregate risk of an account can be understood through the Health Factor, which represents the combined collateral ratios of the borrowed assets.
If the health factor is higher than 100%, it means the account is in a good state and can’t be liquidated.
If the health factor is less than 100%, it means the account can be partially liquidated and can’t borrow more without repaying some amount of the existing assets or providing more collateral assets.
Supported Assets
$SBTC $USDC $Linea
Roadmap
Phase I — Pre-launch🧑💻
✔ Design Landing Page
✔ Create Twitter account
✔ version 1 UI/UX
✔ Comprehensive marketing
✔ Release Gitbook V1
Phase II — Testnet launch⚙️
- Lending feature live
- Deploy $PEKO on testnet
- Open Discord server
- Strategic Partnership
Phase III — Mainnet Launch🚀
- Mainnet launch
- Initial DEX offering (IDO)
- More supply & borrow tokens
- Staking live
- Analytic page live
- Version 2 UI/UX
- Airdrop incentive program
Phase IV and beyond — Peko Protocol V2🚀
- Governance DAO
- NFT Lending live
- Cross-chain feature
- Liquid assets lending live
- More strategic partnership
Source Peko Official
Website , Discord , Twitter and Zealy event