Royale To Issue Its First Commercial Loan to drive iGaming innovation!
Kings & Queens it’s here! 👑
Royale is about to enhance the circular token economy and has onboarded it’s first iGaming company & will be providing them with a commercial loan. The company, which will remain anonymous under commercial NDA, has now been granted its gaming license and is ready to begin operations.
The Royale Defi LPs will be dispersing 30% of the liquidity to issue it’s first community driven decentralised loan to an iGaming company, who will in return provide monthly stability fees back to the Royale network. These stability fees will be used to predominantly reward the Royale Liquidity Providers. The agreed commercial loan rate is approximately 3.2x the APY vs the equivalent funds sitting in the Curve 3pool strategy on Ethereum or the Curve Aave strategy on the Polygon network.
Initially the maximum commercial loan amount was configured to 20% of the total liquidity across Royale Liquidity Pools. The Royale Protocol will be increasing the commercial loan buffer from 20% of total Royale LP to 30%. This best suits the community due to the significant increase in APY and enables the Royale Protocol to begin its journey into the decentralised lending space.
Do StableCoin LPs benefit?
Yes! This is the most core function of the Royale ecosystem. The iGaming company pays stability fees back to Royale in the form of USDC. This USDC is added to the Royale Pool Token (RPT) pool (the LP token you get for adding StableCoin Liquidity). This will therefore increase the overall value of the RPT.
- Loan Amount: TBD
- Term: 2 years
- Principle due back at the end of the term: 20% APR
- Stability Fee Payment Frequency: Monthly
- Repayment Start: End of month 1
- Loan collateral: Equity
- Late stability fees: Will incur a 6% fee on the stability fee amount due (classified as more than 5 working days)
- In case of Default: Following a three month period of non-payment of stability fees, the loan will be classified as default and equity will be released to the Royale Protocol
- Name: Under NDA — The team has requested we reserve their right to anonymity which we must respect.
- Sector: iGaming
- Gaming Licence Status: Licence Granted in the jurisdictions they operate.
- Launch ETA: Expected to go live with their product almost immediately.
This is tremendous news for the Royale Kingdom and its ongoing mission to bridge iGaming and DeFi. We celebrate this significant milestone in the Royale Kingdom’s mission and look forward to onboarding more iGaming and Gaming innovators and entrepeneurs.
Please join us by rejoicing and sharing with your friends! 🗣
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