What Is Welnance finance(WEL) ?
Welnance finance is a protocol on the Binance Smart Chain that establishes money markets, which are pools of assets with algorithmically derived interest rates, based on the supply and demand for the asset. Suppliers(and borrowers) of an asset interact directly with the protocol, earning (and paying) a floating interest rate, without having to negotiate terms such as maturity, interest rate, or collateral with a peer or counter party.
Welnance finance Each money market is unique to a Welnance asset (such as BNB , an BEP-20 stableCoin such as BUSD, or an BEP-20 utility token such as Augur), and contains a transparent and publicly inspect able ledger, with a record of all transactions and historical interest rates.
Welnance finance(WEL) Token Storage Key Points
|Coin Name||Welnance finance|
|Circulating Supply||15,267,876.00 WEL|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Implementation & Architecture
Welnance finance At its core, a money market is a ledger that allows Welnance accounts to supply or borrow assets, while computing interest, a function of time. The protocol’s smart contracts will be publicly accessible and completely free to use for machines, dApps and humans. cryptocurrency will be utilized/traded at special Economic Zone most super-markets, convenient stores, gas stations, ATM’s, road & bridge tolls, e-commerce and private sector pay scheme. All transactions will be conducted through Exchange Wallet.
Welnance finance Each money market is structured as a smart contract that implements the BEP-20 token specification. User’s balances are represented as lToken balances; users can mint(uint amount Underlying) wel Tokens by supplying assets to the market, or redeem(uint amount) wel Tokens for the underlying asset. The price (exchange rate) between wel Token and the underlying asset increases over time, as interest is accrued by borrowers of the asset, and is equal to:
Interest Rate Mechanics
Welnance money markets are defined by an interest rate, applied to all borrowers uniformly, which adjust over time as the relationship between supply and demand changes. The history of each interest rate, for each money market, is captured by an Interest Rate Index, which is calculated each time an interest rate changes, resulting from a user minting, redeeming, borrowing, repaying or liquidating the asset
Welnance finance protocol does not support specific tokens by default; instead, markets must be whitelisted. This is accomplished with an admin function, supportMarket(address market, address interest rate model) that allows users to begin interacting with the asset. In order to borrow an asset, there must be a valid price from the Price Oracle; in order to use an asset as collateral, there must be a valid price and a collateral Factor.
Welnance will begin with centralized control of the protocol (such as choosing the interest rate model per asset), and over time, will transition to complete community and stakeholder control. The following rights in the protocol are controlled by the admin:
● The ability to list a new welToken market
● The ability to update the interest rate model per market
● The ability to update the oracle address
● The ability to withdraw the reserve of a welToken
● The ability to choose a new admin, such as a DAO controlled by the community; because this DAO can itself choose a new admin, the administration has the ability to evolve over time, based on the decisions of the stakeholders
● Welnance creates properly functioning money markets for Welnance assets
● Each money market has interest rates that are determined by the supply and demand of the underlying asset; when demand to borrow an asset grows, or when supply is removed, interest rates increase, incentivizing additionalliquidity
● Users can supply tokens to a money market to earn interest, without trusting a central party
● Users can borrow a token (to use, sell, or re-lend) by using their balancesin the protocol as collateral