Time-based Loans are Now Available for $DEGEN 🎩

gmgm

It’s a Friday night, you’re chillin in spot, the charts are pumpin’, the music is bumpin.

What’s this... could it be an opportunity?

Juicy uniV3 yield spotted.  

Target acquired.

As you open your wallet, you realize that you don’t have $USDC to make the pair!

$DEGEN is on the move and you know it’s going to $1 – not a good time to sell.

Thankfully, there’s another option.

Degen, meet Teller  🤝  🎩

How Can You Use $DEGEN as Collateral to Borrow $USDC on Teller

Step 1: Visit Teller.org
Step 2: Connect your wallet
Step 3: Select $DEGEN as collateral
Step 4: Approve the escrow transaction
Step 5: Instantly receive $USDC in your wallet

Still have some questions? Checkout the Getting Started Guide.

What is Teller?

Teller is a decentralized protocol, enabling time-based loans for 1-30 days. The protocol unlocks any ERC20, ERC721, or ERC1155 to be used as collateral, without price-based margin call liquidations.

When the market is up, borrowers can lock in higher loan amounts without the risk of being liquidated if the price of the assets drops.

If the market is down, Teller time-based loans can be used to pay down at-risk collateral positions. Near liquidation? Low health ratio? Pay down the position, with time on your side.

Lenders set custom terms, LTV, APY%, and duration and borrowers put up their Ethereum assets as collateral to get $USDC. Similar to a line of credit or a cash advance, borrowers can repay or extend their loan at any time.

What is Degen?

Degen, an ERC-20 token launched in January 2024, has reshaped the Farcaster ecosystem by enabling Casters to reward others with $DEGEN for posting quality content.

As of April 2024, there are 360,000+ holders and over 4 million $DEGEN transactions.

The Degen points system recognizes unique posts and comments on the “sufficiently decentralized” social media platform, Farcaster. “Casters” or the people posting content, use $DEGEN to reward each other for posting quality content.

This ability to tip one another, using the $DEGEN token, effectively bridges the gap between online contributions and real-world value.

How Can You Use the $USDC That You Borrow?

TLDR; however you want to!

The liquidity you receive from a Teller loan can be used for anything from paying rent or buying groceries, to saving the health ratio of an open leverage position or getting the $USDC you need to enter a Uniswap LP pool.

The sky's the limit when everything is permissionless 🚀

Get a $DEGEN Cash Advance Today at Teller.org!