Borrow Rates Update — July 12, 2022

Jul 12

Well-functioning credit markets require interest rates that dynamically change to market conditions. As mentioned in our previous rate article, RociFi’s rate strategy is designed to be easily understandable, effective at managing risk, and equilibrium searching for both lender and borrower elasticity of loanable funds.

However, in the beginning, many platforms suffer from the “chicken or egg” problem regarding participation. Furthermore, RociFi has NOT issued any governance token for which many projects have used to incentivize participation.

Thus, we are running a “launch rate promotion” for early borrowers on the platform. The promotion will substantially discount current borrow rates across every lending pool.

Furthermore, during this period we are reclassifying our lending pools to be more inclusive in getting borrowers access to under-collateralized loans; especially during these tough times.

The promotion will run until Aug 12, 2022.

Low Risk Pool

30-day rate of 1% or 12% APY

Mid Risk Pool

30-day rate of 1% or 12% APY

Over-Collateralized Pool

30-day rate of 0.50% or 6% APY

Low Risk Pool

Credit scores 1–3

Mid Risk Pool

Credit scores 4–9

Over-Collateralized Pool

Credit score 10

RociFi aims to update protocol interest rates semi-weekly.

RociFi — Under-Collateralized Credit Protocol on Polygon