Timeswap is a new DeFi project designed for lending and borrowing using ERC-20 tokens, operating without oracles or governance. It aims to change how lending and borrowing work in the crypto world.
Description
Here's how it works:
- Oracleless Operation: Timeswap doesn't use oracles. This means it's safer from certain attacks and can support markets for any ERC-20 tokens.
- Permissionless Markets: Anyone can create lending/borrowing markets and participate in them with any ERC-20 tokens.
- Secure Loans: Loans are non-liquidatable, meaning borrowers can secure loans against their tokens without constant monitoring.
- Fixed Terms and Rates: All transactions have set durations and fixed interest rates, giving users certainty.
- Early Withdrawals: Users can exit early but might face slippage (changes in price during trade execution).
- Market-Driven Rates: Interest rates are set by the market, ensuring fair rates.
- Isolated Pools: Each lending/borrowing pool is separate, keeping risks contained.
- Overcollateralized Loans: Ensures borrowers can't get loans for more than their collateral value.
- Immutable Contracts: Once set up, contracts/pools can't be changed, except some parameters through governance once $TIME is live.
In summary, Timeswap is a unique DeFi project offering secure, flexible, and efficient lending and borrowing options. Its approach to removing oracles, providing fixed-term loans, and isolated risk pools makes it a standout in the DeFi space.
Team of the Project
Riccson Ngo
Founder
Ricsson Ngo is the Founder and CEO of Timeswap Labs, a company that has developed a groundbreaking protocol that is AMM driven, permission-less, and oracle-less. He also founded Einstar, a project aimed at revolutionizing basic education. Ricsson has a background in the food industry and founded Bondle Inc., a web platform designed to connect people with great events. He is based in Dubai, United Arab Emirates.