Figure Markets Opens $20M HELOC Financing Facility as First RWA Financing on a DeFi Marketplace
Institutional investors anchored the first million dollars to the first RWA funding on a DEFI market while traditional finance continues to adopt decentralized rails.
San Francisco, that [date] The figure markets have today announced the launch of a loan installation higher to the $ 20 million chain supported by equity at home (helocs). The installation uses the main democratized market of the figures market, where borrowers access the capital directly of lenders using digital public blockchain assets as guarantee. This transaction marks the first time that native native active ingredients (RWA) can be used as a guarantee on a loan protocol and a decentralized market.
Democratized Prime uses Dutch time times to allocate capital. Lenders fix their target loan rate, can automatically make their loans and exchange on time. The first funding of $ 10 million came from an institutional partner in figures with a financing rate of 8%. Any member of the figure markets can reach this offer or set higher or lower loan rates. Using the Dutch auction, all lenders receive the highest loan rate that is borrowed independently from their supply rates.
“Democratized Prime allows us to do the $[15] The billion figures of real active ingredients (RWAS) on the blockchain of the usable provenance, “said Mike Cagney, CEO of Figure Markets and President of the Figure.” Members of the figure markets can lend against these assets and will soon be able to buy, borrow and use figure loans as a guarantee for another exchange activity, such as the purchase of Bitcoin. And the process is really democratized – individuals can participate side by side with the main hedge funds and banks. »»
Landers obtain a perfection of security against guarantees using the digital figure registry technology platform – the same tool used by Goldman Sachs, Jefferies and others on the Loans Figure. The yield won by lenders on Democratized Prime is additive to the improved yield that they can already win by holding the YLD – the stables of the SEC -SEC -SEC registered – while retaining funds in the Figure Markets application.
“We plan to grant as many loans to Democratized prime as the request,” said Cagney. “We add more than $ 700 million a month to the Blockchain of the provenance and hope to take advantage of democratized in -depth – we will make sure that there is always enough Rwas to match the request.”
Similar to other Defi loan protocols, time loans are bilateral between the borrower and the lender. Each market has its own automated liquidation methodology to manage the risk of loans. In the event that there is not enough liquidity to respect a reimbursement of loans, the rate on this market amounts to 30% to relax the borrower or attract new capital.
About the figure markets
The markets of the figure democratize finances by the blockchain. The company builds the exchange of everything – a decentralized childcare market for crypto, stocks, bonds, credit, etc. By offering the best lever, margin trading and liquidity, the figure markets provide members with in -depth loan options and unique investment opportunities. With his decentralized custody exchange, they put the members to control their own assets and data, disintermediary of brokers, exchanges and inherited lenders. To find out more, visit www.figuremarkets.com or their LinkedIn, Telegram, X and Discord.
About the technological solutions of figures
Founded in 2018, Figure Technology Solutions (“Figure”) is a blockchain-based technological platform designed to improve the efficiency and transparency of financial services. Its subsidiary is Lending LLC, is the largest non -bank equity credit supplier; Its software has been used to come from more than $ 14 billion in equity. Figure technology is integrated through a large network of capital markets and capital markets and is also used directly by owners in 50 states and Washington, DC. With the figure, the owners can receive the approval of one heloc in five minutes and receive funding in as little as five days.
Democratized Prime uses a Dutch auction method for its borrowers / lenders. There is an inherent risk due to the volatility of interest rates in Dutch interest rates in the auction can increase rapidly. At the time of acceptance, your loan can be filled with a different interest rate or higher than that offered at the time of the selection. The interest rate is only set at the time of approval of the loan and not at the time of acceptance of the loan.
The market figure markets open up a heloc funding of $ 20 million while the first RWA funding on a DEFI market appeared first on Beincrypto.
