Stablecoins are here! Thanks to its integration with Uniswap, the RCN Credit Marketplace now allows its users to fund loans using DAI and USDC. During 2020, this feature will be expanded to make the currencies available for borrowing and collateralizing.
While powered by different stability mechanisms, DAI and USDC are currently two of the most popular USD-pegged stablecoins. Developed by Maker DAO and controlled by the MKR governance token’s 15,000 holders, DAI is the first completely decentralized stablecoin on the Ethereum blockchain and the most used within DeFi lending protocols.
On the other hand, created by CENTRE — a joint venture between Circle and Coinbase — , USDC stands out for being issued by regulated, licensed and audited financial institutions which maintain full reserves of USD to back it, allowing it to hold the second biggest market cap on the stablecoin ecosystem.
Fund loans using DAI & USDC!
With stablecoin loans you can lend DAI and USDC in 3 easy steps!
- Access the Credit Marketplace while logged into your Metamask wallet, select a loan and click on “Lend”.
- Choose the stablecoin you want to fund the loan with and check the Lending Amount and the Return (in both the Borrowing and Lending currencies).
- Click on “Lend” again, approve the Metamask transaction and start lending stablecoins on RCN!
It is important to note that stablecoin loans will be initially repaid — including both principal and interest — in RCN, with returns in the original lending currency becoming available later on. Due to potential exchange rate fluctuations between currencies, the nominal returned amount in RCN might be different from the one originally shown.
You can find more information about RCN’s other upcoming features on the project’s new Development Roadmap.
Never miss one of RCN’s updates!
- Visit its Official Website & check the Credit Marketplace.
- Follow it on Twitter, Facebook & LinkedIn.
- Join its community on Telegram.
- Check its code on Github.
- Reach it at contact@rcn.finance & helpdesk@rcn.finance.
