BTC PULSE
No Result
View All Result
Play Now
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

Fantom-based Money Market Slashes fees by over 90%

by Abimbola Adu
Oct 17, 2022 - 12:00 am
in Blockchain
Fantom-based Money Market Slashes fees by over 90%

A Fantom-based money market platform called Granary Finance tweeted on October 14 that it was reducing fees by over 90%. This action will result in lenders receiving the entire interest from platform transactions.

Attention farmers! Our big news is here.

Our platforms fees has been reduced by 90%

What does this mean? All of the interest will be going to lenders.

Enjoy your yields! Because we wont be 😜 pic.twitter.com/zzd3UdwUxW

— The Granary 🌾 (@GranaryFinance) October 14, 2022

With the level of competition in the cryptocurrency market rising, many DeFi protocols are taking the initiative to introduce appealing features. 

Granary Finance has enhanced its functionality, and as a result, more people will use its services. Both lenders and borrowers benefit from the reduction in fees. Transaction fees do not drive away borrowers, and lenders make more money on loans. 

How does the platform operate? 

Granary Finance is a borrowing and lending liquidity market. Crypto lenders offer yields on crypto deposits by lending them at interest.

There is no limit on the maximum deposit amount. Depositors must be cautious when making small deposits, as the transaction fees may be greater than anticipated profits. Additionally, depositors can choose not to have their assets utilized as collaterals and are entitled to the removal of such.

Users of the platform may borrow money based on how much they have placed and the obtainable liquidity. The same cryptocurrency used for borrowing is also used for repayment.

The borrowing rate determines the interest rate you pay when borrowing assets, and there is a limit to the sum that can be borrowed. A benchmark for borrowing is the “health rating.” You lose access to deposits when this rating is poor or when there isn’t adequate liquidity.

Users’ interest in a specific asset is maintained through the availability of borrowing. They can get functional capital without selling up their assets.

Aside from advantages encouraging increased adoption, Granary has given the ecosystem fascinating and lucrative passive income potential. The fact that Granary accomplished this in such a brief amount of time is quite intriguing.

Tags: Market
Abimbola Adu

Abimbola Adu

Abimbola Adu is a crypto content writer with a background in English studies. She is keen on enlightening others about cryptocurrency and blockchains. She enjoys writing poems and spending time with family.

Related Posts

Exterior view of the Czech National Bank building in Prague, symbolizing the institution’s financial strategies and innovation.

Bank of England Governor Says Stablecoins Could Reduce Reliance on Banks

October 1, 2025

Andrew Bailey says stablecoins could reduce UK reliance on commercial banks by separating money from credit, signaling a...

blockchain

Spacecoin Executes First Blockchain Transaction Through Space

October 1, 2025

Spacecoin has achieved the first-ever blockchain transaction through space using a nanosatellite, marking a milestone for decentralization and...

The headquarters of the Autorité des Marchés Financiers (AMF) Investor in Paris, France, the regulatory body warning investors against ByBit.

French Officials Pressured Telegram to Censor Moldova Election Posts: Durov

September 28, 2025

Pavel Durov revealed French intelligence pressured Telegram to censor Moldova election content in 2024, which he refused, citing...

Wall Street financial district with Bitcoin symbol representing institutional adoption

Bitcoin skepticism fades as nations gear up for adoption, says Samson Mow

September 28, 2025

Samson Mow predicts nation-states will move from skepticism to rapid Bitcoin adoption, fueling global FOMO and a rush...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • About Us
  • Advertise
  • BTC-PULSE
  • Contact Us
  • Events
  • Privacy Policy
  • Sitemap
  • Terms of Service