A New Milestone Amid the Memecoin Supercycle

In a major milestone for $APU holders, cash advances on the Teller platform have officially surged past $1 million 💪 As the memecoin supercycle sweeps through the crypto world, $APU is quickly becoming a key collateral for traders looking to access liquidity without selling their tokens.

$APU Cash Advances in Numbers

June 6th, 2024 marked the first $APU cash advance issued using the Teller protocol. Since then, borrowers have initiated 37 cash advances with $APU as collateral—totaling $1.04M in volume.

Memorable Moments with $APU Cash Advances

1. First $APU Cash Advance 🏧
   The very first $APU cash advance was issued on June 6, 2024. 100 $USDC was borrowed against $APU collateral. The cash advance had a short-term duration and was fully repaid, marking the beginning of $APU’s role in Teller’s ecosystem.
2. Largest $APU Cash Advance 💰
   On June 19, 2024, the largest $APU cash advance was issued, with a borrower securing 76.33K $USDC using $APU as collateral.
3. Biggest Borrower 😎
   From June to October 2024, one borrower used $APU as collateral to borrow a total of $639,150. The cash advances averaged an APR of 18.46%, highlighting the flexibility and access that Teller provides to its users.

Murad’s $APU Holdings and the Memecoin Supercycle

The $APU cash advance boom coincides with the ongoing memecoin supercycle. During this period, influential crypto investor Murad had his wallets doxxed, revealing $APU holdings. Murad’s involvement in $APU, shared in this tweet, underscores the token’s growing importance as a key asset in the memecoin market. As traders ride the wave of speculative investments, $APU remains a go-to token on Teller for those seeking liquidity without liquidating their positions.

A Growing Demand for Liquidity

Whether it’s to protect an active position from liquidation or to take advantage of new opportunities, holders of $APU tend to use Teller cash advances as a flexible liquidity solution.

The Borrow & Swap strategy is popular among DeFi users, where a borrower can use their $APU as collateral to secure a cash advance, use the funds to acquire additional tokens, and then use those newly acquired tokens as collateral for another advance. This approach allows users to incrementally grow their token holdings while preserving their original assets.

Unlike traditional loans that rely on price oracles and come with risks like margin calls or liquidation, Teller’s cash advances are time-based, providing a more stable borrowing experience. This makes Teller cash advances ideal for DeFi strategies, allowing users to tap into liquidity, participate in new opportunities, and maximize their returns without risking their long-term positions.

How to Use $APU as Collateral

$APU cash advances provide access to over $269.89K in liquidity.

Advances are available for up to 30 days. Here’s how it works:

Step 1: Connect a Compatible Wallet

Connect to the Teller platform using supported wallets like MetaMask, Coinbase Wallet, or others that support Web3 connections.

Step 2: Review Tokens with Available Loan Offers

Inside the wallet, review the tokens that are eligible for loan offers. The Teller platform will display the available loan opportunities based on the tokens that are in the connected wallet. This will directly show users what memecoins can be borrowed against. If a memecoin does not have an active loan listing, the user can make an offer to be filled by a lender by following the directions on the dashboard.

Step 3: Examine Loan Offers

Review the available loan offers for eligible memecoins. Consider the available offers based on the following metrics:

Loan-to-Value Ratio (LTV): The percentage of the token's value that can be borrowed

Annual Percentage Rate (APR): The interest rate applied to the loan

Duration: The length of time the loan is active

Step 4: Select and Execute a Loan

Choose a preferred loan offer and initiate the loan process in a single transaction.  The transaction will move the chosen collateral (tokens) into an on-chain escrow smart contract. The loan capital is then transferred directly to the wallet.

Step 5: Repayment

At any time or when loan duration ends, roll over or repay the loan along with any applicable fees.  Upon repayment collateral will be released from the escrow smart contract.

Ready to dive into DeFi with $APU? Learn more and explore available $APU cash advances on teller.org