Teller x QuickSwap
Teller Protocol is excited to announce a partnership with QuickSwap, a decentralized exchange on the Polygon network that will unlock greater liquidity for QUICK & dQUICK token holders.
TL;DR Benefits:
1. Enhanced liquidity for the QuickSwap ecosystem
2. Multiply yield from staked QUICK
3. No risk of liquidation based on market volatility
How to borrow?
QuickSwap community members have immediate access to $100k+ of liquidity.
Borrow Instantly with dQUICK
- Go to teller.org/v2
- Connect your wallet (make sure you have QUICK or dQUICK in your wallet.
- Select dQUICK as collateral
- Type in the amount of USDC you want to borrow
- Click approve pool
- Click Deposit & Borrow
You can also check out this video walkthrough: Instant Loan Walkthrough
Current loan terms:
Collateral Factor / LTV: 300%
APR: 8%
Duration: 7 days
How do Teller Loans work?
Unlike other DeFi lending protocols, users can borrow without supplying into a pool. Instead, borrowers on Teller deposit collateral & receive a loan all in one click.
Teller replaces price-based liquidation pools with fixed collateral, fixed APR, and flexible duration loans in concentrated liquidity order books.
So, instant loans happen when borrowers and liquidity providers agree on pre-set loan terms like:
- collateral ratio (LTV)
- loan duration
- APR
*Custom (OTC) loans can also be requested on Teller, (but there's no guarantee that those loans will be accepted.)
Time based liquidations are a core function on Teller.
Liquidations on Teller
Teller Protocol doesn't use health factors, so any change in collateral value from price volatility does not trigger liquidation.
Instead, a liquidation only occurs if a borrower fails to make a scheduled repayment.
Time-based liquidation enables more flexible collateral options for borrowers and LPs can earn above market rates.
One Last thing
Teller loans are fixed duration, so if you miss a scheduled loan repayment you will be liquidated and forfeit your collateral.
Teller V2 is currently in alpha. Exclusive access is available to select community partners until the full launch.
📃 Teller V2 Docs – https://teller.gitbook.io/teller-lite/
🔒Github – https://github.com/teller-protocol
👾 Discord – https://discord.com/invite/teller
🐦 Twitter – https://twitter.com/useteller
🖥️ Teller App – https://alpha.lite.app.teller.org/