Flappy Protocol is a protocol that powers lending and borrowing applications, connecting connects lenders, borrowers and data platforms. The platform utilizes smart contracts and economic incentives to create successful ecosystems which provide access to decentralized loans for borrowers, yield for lenders and insights for data providers. It allows borrowers to lock parts of their funds in a protocol and lenders to lend money overtime on a contract that defines the terms of the loan: rate, length, and other conditions. The idea is to allow borrowers to access liquid funds instantly while leveraging the benefits of lending.
Flappy Protocol’s v1 launch will support USDT, USDC, DAI, ETH, AURORA, NEAR. Users will be able to lend and borrow these assets at attractive APR. For lending their assets to the market, lenders receive an auto-compounding, synthetic token called fUSDT, fUSDC, fDAI, fETH, fAURORA, fNEAR and fTRI. This token represents the amount they contributed to the pool and the interest earned by the asset. Just by holding the tokens, users earn interest in the same asset the token represents and though fUSDT, fUSDC, fDAI, fETH, fAURORA, fNEAR are currently non-transferable, subsequent releases will add more utility through various partnerships.
FLP token powers Flappy Protocol. 70% of the total supply will be used for given as incentives for lenders, borrowers and liquidity providers.