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7up.finance

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News

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Tando Nkube

What is 7up.finance?

7up.finance — a DeFi Filecoin (FIL) lending and investing platform, powered by Binance Smart Chain. By matching FIL holders and FIL searchers, 7up is designed for the FIL borrowing market. Meanwhile, on the 7up platform, lending is a way of mining. As soon as the loan agreement takes effect, the borrower and lender will get rewards with 7UP, the platform's own token.

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7up.finance дапп

Description of the 7up.finance

7up.finance — a decentralized Filecoin lending platform that helps users to get the FIL tokens they need without buying them. FIL token holders can earn passive income by providing FIL tokens to the lending platform. While those who need it can borrow the FIL, providing the appropriate amount of stablecoins on the platform. The platform supports two stablecoins: Binance Smart Chain, based on USDT, and BUSD (Binance USD).

Users can mine 7UP tokens both by depositing and borrowing:

Extraction of the deposit Mining Power = Deposit amount * Power weight, mining rewards that can be obtained are proportional to his or her mining power.
Borrowing mining Mining power = borrowed amount * power weight, mining rewards that can be obtained are proportional to their mining power.

The total volume of the 7UP offer is 100,000 pieces. 50% of the total production will be produced through borrowing over a 30-day period.

30% of the total supply will be mined by providing liquidity for 7UP trading pairs.7up.finance

The remaining 20% belongs to the team for its contribution to the ecosystem. 7Up mining starts at the moment when the first deposit is completed.

Commission distribution:

  • 10% of interest, earned from lending, - the platform processing fees.
  • 50% of the platform processing fees will go to the staking dividend pool and the remaining 50% will go to the team to burn.

7up.finance will distribute platform processing fees among its users in proportion to their stake volume in the 7UP dividend pool.

Additional information

There are no WhitePaper and RoadMap documents yet. Instead, the developers provide a blog on the Medium site. Articles about the project are available there.

From social networks, the community leads:

  • twitter;
  • GitHub.

Subscribe to stay up to date with all news and updates. Smart contract audit is not available.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.