Singapore, June 27, 2022 – Torches Finance, a decentralized noncustodial liquidity protocol based on the KuCoin Community Chain (KCC), has announced the launch of the Torches Finance mainnet on KCC.
Torches Finance is a KCC-based lending protocol that integrates features such as lending, leveraged mining, and non-fungible tokens. (NFT). So far, the platform has opened deposit and lending services for Bitcoin (BTC), Ether (ETH), KuCoin Token (KCS), Tether (USDT), and USD Coin (USDC).
Torches Finance hopes to increase the utilization rate of crypto assets on KCC and provide new financial investment options for users.
To further enhance Torches Finance’s on-chain usage and market share, it has made serious efforts to enrich users’ usage scenarios by innovating token incentive models and strict risk management. Users can earn token benefits by providing liquidity, loans, participating in governance, and more.
To motivate early adopters to contribute to Torches Finance, it has also revealed Torches Points (TOP) mining activities. Users can get TOP by completing specific deposits, loans, liquidations and more. TOP, as proof of contribution from community users, is converted into TOR tokens. Specific details will be announced after the TOR token launch.
Torches Finance increases users’ willingness to invest capital in the market and allows them to increase their income from the Torches Finance ecosystem.
Joe, CEO of Torches Finance, said: “Lending protocols are essential as infrastructure in the decentralized finance (DeFi) ecosystem. Currently, there are no DeFi projects with green effects in KCC. I hope that Torches Finance can become the leader of the DeFi field in the KCC ecosystem. It provides more financial services to choose from for most KCC users and integrates deeply with the KCC ecosystem to co-build underlying DeFi services. We want to be the underlying infrastructure of the decentralized universe in the future.”
The launch of the Torches Finance mainnet will meet the crypto asset management needs of users on KCC. To thank users for their support and contributions, Torches Finance is launching a Torches genesis NFT launch event in the near future. Users can join the community on Discord to learn more about genesis NFTs and how to get involved.
About torchlight finances
Torches Finance is a KCC-based decentralized lending protocol that supports mainstream crypto assets like BTC, ETH, and more. Users can earn TOR tokens by depositing and lending assets.
Visit the website for more information: torches.finance/en.
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