Tokoin joins Fantom DeFi: TOKO collateral integration
TOKO, Tokoin’s native utility token, will join Fantom’s DeFi ecosystem as collateral for minting synthetics, including fUSD.
TOKO holders will be able to use fMint to access fUSD and other synthetics, which can be used with other Fantom DeFi products.
Specifically, fLend allows you to lend & borrow assets, while fTrade lets you trade them.
If you want to go long BTC (without losing exposure to your TOKO collateral), mint fUSD against your TOKO in fMint, and use the fUSD to buy fBTC (synthetic BTC) in fTrade. Sell the fBTC for fUSD later to repay the minted debt.
If you want to go short BTC (without losing exposure to your TOKO collateral), mint fBTC against your TOKO in fMint, sell the fBTC in fTrade. Rebuy fBTC later to repay the minted debt.
Once you’ve repaid any outstanding minted debt, you can unlock your collateral to withdraw.
Tokoin is a platform that gathers and processes information from businesses as a valuable asset, which then acts as a token of reputation in the business ecosystem. Tokoin platform users can establish their digital business identity and reputation within the ecosystem to utilize the credibility scoring for suppliers and financial institutions.
The TOKO token is issued on-chain as a means of interaction between participants as well as an incentive for network participants. Also, the TOKO token is a prerequisite for using certain services on the Tokoin platform.
The Fantom Foundation is committed to building technology that is open-source, decentralized DAG-based distributed ledgers with aBFT consensus. We aim to create fast, secure, and scalable technologies across a wide range of industries, allowing organizations, businesses, and individuals to develop decentralized and secure applications, solving real-world problems.