Torches Finance: A Decentralized Lending Protocol Launched on KCC

Singapore, June 27, 2022 - Torches Finance, a decentralized lending protocol based on KuCoin Community Chian (KCC), announced the mainnet launch on KCC. Torches Finance has enabled supplying and borrowing services for BTC, ETH, KCS, USDT, and USDC.

As a lending protocol, Torches Finance wants to achieve a win-win with KCC and leveraged assets on KCC. With the advantages of the low gas fee and gradually thriving KCC ecosystem, Torches Finance can further reduce the impermanent loss and increase the utilization of user assets.

According to the official news, Torches Finance has made innovations in lendable assets, lending incentives, liquidation rules, risk control, and other aspects to differentiate Torches from other lending products in the market. Also, Torches Finance was negotiating with other projects of the KCC ecosystem, which will provide investors with more opportunities in the future.

Torches have a unique economic incentive model where users can receive TOR tokens whenever they supply and borrow assets. It also revealed Torches Points Mining activities to motivate early users to contribute to Torches Finance. Users can gain a certain amount of Torches Points (TOP) by supplying, borrowing, and liquidating. As the contribution proof, TOP will be able to redeem to TOR after the official release of the TOR token at a specific ratio. The details will be announced at the token launch.

Eric, the CMO of Torches Finance, said,

“Torches' short-term goal is to become a DeFi project on KCC with massive hype. Torches Finance will meet the needs of asset management on the KCC. And it will work with KCC to expand the market space for DeFi to another level. ”

With Torches Finance’s mainnet launch, it will hold a series of activities, including the Genesis NFT Collection, Torchlight, and Free Mint. Torches Finance will give out whitelists to communities. Users can follow Torches’ official Twitter and Discord to discover more.

About Torches Finance

Torches Finance is a decentralized lending protocol based on KCC, supporting mainstream crypto assets such as BTC, ETH, etc. Users can earn TOR tokens by both depositing and lending assets on Torches Finance.

Visit Torches Finance: https://www.torches.finance/en