Dear users,
JustLend DAO is going to add BUSD as a collateralizable asset on Jan 19th, 2023 (SGT), users will be able to supply and borrow BUSD from that moment on.
BUSD is a fully collateralized US Dollar stablecoin developed by Binance.
BUSD's Market Parameters:
Due to the large amount of circulation, the collateral factor is set at 75%, while its reserve factor is set at 5% to encourage more supply and borrow of the asset.
The BUSD market adopts the similar interest model as USDC does,where the interest rate rockets to a higher tier when the utilization rate exceeds 90%. Its Supply Base APY hits19% when the utilization rate reaches 100%. Supply and borrow APYs at different utilization rates are as follows:
|
Utilization rate |
Borrow Base APY |
Borrow Base APY |
|
0% |
0.00% |
0.00% |
|
10% |
0.55% |
0.05% |
|
20% |
1.11% |
0.21% |
|
30% |
1.66% |
0.47% |
|
40% |
2.22% |
0.84% |
|
50% |
2.77% |
1.31% |
|
60% |
3.33% |
1.90% |
|
70% |
3.88% |
2.58% |
|
80% |
4.44% |
3.37% |
|
90% |
5.00% |
4.27% |
|
100% |
20.00% |
19.00% |
We believe that adding support for the BUSD market facilitates the growth of JustLend and further improves its ecosystem.
Thank you for your support!
JustLend DAO Team
18th Jan, 2023