What Is Moremoney Finance? Everything You Need To Know About Moremoney Finance

Moremoney is a lending protocol for opening over collateralized debt positions using liquidity pool tokens, interest-bearing tokens and other major tokens as collateral. Simply put, with Moremoney, users can keep their position, keep earning yield, and still extract liquid cash. How Does It Work? We have Alice, she is here to get $MONEY: Alice holds a single asset, e.g., AVAX, JOE, PNG, or Liquidity Pool Tokens (LPT) in a supported pair.She deposits these tokens into the Moremoney lending contract and requests a certain amount of $MONEY as a loan.The lending contract withdraws the LPT from her wallet and deposits it into a yield-earning contract, such as an incentive contract run by the DEX or a Yield YAK folding strategy for Benqi or Banker JOE.Then it mints the requested amount of $MONEY to Alice's wallet, taking a minting feeThe contract checks the minimum collateralization ratio for Alice's account holds using a price oracleAlice can now trade $MONEY on exchange, add l...
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