1. Lend LINK 📈
Lenders on can supply LINK to earn interest. A user can place a reserve order by selecting the amount and signing this reserve order as a meta transaction. You would get a notification once the reserve order is placed on-chain with a verification link on Etherscan. You would start earning interest based on the amount of borrowing activity on the platform.
As a lender and market maker on the Nuo platform, users can earn an additional 1% bonus on your notional LINK reserve volume for the month of April. The bonus would be added to your account on 1st May. More details .
2. Borrow LINK 💰
Borrowers on can either collateralise ETH or select ERC20 to borrow LINK with 0.3x or 0.5x or 0.7x leverage. Borrowers only pay premium for borrowing LINK and no other fees are charged by Nuo .
A user can place a loan order by selecting the collateral or loan amount along with duration and signing this loan order as a meta transaction. Once this loan order is relayed on-chain, the loan amount is transferred instantly to your Nuo account. This loan amount can be withdrawn from your account to any exchange or .
A LINK loan is repaid via a one time transaction before the end of loan duration. In case you fail to repay on time, the loan defaults and you would lose your collateral upto loan amount plus premium. Excess collateral amount would be transferred back to your Nuo account.
3. Margin Trade LINK 🏆
Traders can Long or Short LINK with upto 3x leverage across ETH and DAI markets. To long LINK against DAI, you would essentially be borrowing DAI against a collateral to buy LINK from our partner exchanges (Uniswap or Kyber). This ensures that as LINK prices rise, you can earn 3x more in profit than you otherwise would have.
Similarly, you can short LINK against DAI with 3x leverage by borrowing LINK against a collateral to covert it into DAI from our partner exchanges. This would ensure that as LINK prices go down you can still earn 3x profits on this trade.
You can set a stop loss and take profit limit on the platform which will automatically be triggered if prices drop or rise too much while you were away.
Disclaimer 📃
Nuo Network enables lending and borrowing using smart contracts which are open source. Nuo Network does not take custody of and is only a peer to peer marketplace for lenders and borrowers. Nuo Capital Pte Ltd is a Singapore corporation and is not a licensed bank, money lender or an exchange. Nuo Network currently does not charge fees from users for any of the services provided through its smart contracts.
Note: Nuo Network is experimental technology and software. Please use it at your own risk. Losing your account private key or forgetting your password may result in permanent loss of funds. It is recommended to connect your Web3 Wallet (Metamask, Trust etc) to use the platform without your password. For any enquires, please reach out to us at info@getnuo.com
Published at Wed, 24 Apr 2019 16:59:01 +0000
