Chee Finance — an advanced cross-chain, non-custodial decentralized liquidity marketplace, built on the Celo, Polygon, Meter.io and BNB Chain networks.
About Chee Finance
The innovative Chee Finance protocol makes it easy for users to lend, borrow and earn interest with their digital assets. When depositing assets, lenders can choose to provide liquidity to the protocol while generating passive income. Borrowers may use excessive collateral in the lending proces.
Borrowers can borrow crypto assets by providing Celo/MTRG/BNB or a stablecoin as collateral. This gives users the flexibility to interoperate with other protocols that require the use of assets they don't currently have without losing their current position..
Chee Finance will allow users to:
| 1 | Instantly supply and withdraw liquidity from the general liquidity market. |
| 2 | Borrow liquidity in the market, using the assets, provided by them as collateral. |
| 3 | Get a fully transparent view of interest rates, based on market demand and supply of assets 24/7 in real time. |
To take out a loan, users must deposit the accepted asset and list it as collateral. Make sure the “Collateral” toggle is enabled in the “Supply Market” panel. The maximum amount that users can borrow depends on the amount they deposit and available liquidity.
The Chee Finance lending protocol includes two pools:
- Asset pool: a pool of shared assets such as wrapped BTC, wrapped ETH, stablecoins and tokens on the Celo, MTR/MTRG and BNB network.
- Chee pool: the pool, created by the Chee bots during the liquidation..
External liquidators and Chee bots compete against each other in the same space. Those who successfully liquidate their positions will receive the corresponding rewards. If the Chee bots win, the rewards will be placed in a separate pool to be used as rewards for $CHEE holders.
Cross-chain implementation
Crosschain provides interaction between two relatively independent blockchains. In other words, it allows blockchains to communicate with each other because they are built in a standardized way. The implementation of cross-chain is mainly represented by asset exchange and asset transfer, which is an important part of the blockchain world and a key research area of Chee Finance. With cross chains, the limitations of a single chain can be avoided.