Hundred Finance — a decentralized application (dApp) that allows you to lend and borrow cryptocurrencies. The protocol integrates with Chainlink oracles to ensure market stability, specializing in providing markets for long-term assets.
About Hundred Finance
Hundred Finance aims to play a central role in providing these services in a multi-grid environment that has flourished since early 2021, providing the freedom to generate income and borrow assets to a growing number of users in a safe and cost-effective manner. The goal of Hundred Finance - to expand to multiple networks in order to provide its decentralized and cost-effective financial services as widely as possible.
The platform is currently implemented on the following chains:
| 1. | Ethereum main network. |
| 2. | Arbitrum Layer 2 scaling solution. |
| 3. | Fantom Opera blockchain network. |
| 4. | Harmony blockchain network. |
| 5. | Blockchain network, based on Moonriver. |
| 6. | Gnosis Chain blockchain network. |
The Hundred Finance dApp provides users with access to these networks through integration with compatible Web3 wallets. End users can select the network they wish to use from the main page of the coin defi platform. While the platform maintains the same core functionality regardless of chain, assets, interest rates and other variables such as transaction costs often differ between the two.
The user interface in some select markets on certain networks, where Hundred Finance is deployed, has an additional means of interacting with the protocol: community-provided support. These markets, branded with the B.Protocol Backstop logo, allow users to post qualifying assets and, instead of lending them to borrowers, set them aside to provide liquidity in an automatic liquidation.
More about defi app
The various markets of Hundred Finance are accessed through the homepage of the website. Interest rate model contracts as well as smart contracts of other protocols, issued on the mainnet, can be accessed by using the Hundred Finance dashboard.
When tokens are supplied to various Hundred Finance protocol markets, the corresponding hTOKENS are minted and received by the provider's wallet (e.g. ETH mints hETH). hTOKENS are interest-bearing tokenized representations of user deposits, issued in accordance with the ERC20 standard.
Although hTOKENS represent the underlying asset, they do not have a 1:1 exchange rate with it (1 USDC is not equal to 1 hUSDC). Whenever a user issues, redeems, borrows, redeems, liquidates an account or transfers hTOKENS, they do so by interacting with the corresponding hTOKEN contract.