Gametaverse | One-Stop GameFi Portal | Hiring
Gametaverse | One-Stop GameFi Portal | Hiring 2 minutes reading from Binance Coin

The $BNB Loan APY Rook To 80% Following Launch Of ‘HookedProtocol’

📚Gametaverse GameFi Analysis: The BNB Loan APY

Why did BNB loan APY rise to 80% after the HOOK launch? Here is a thread to break down what happened.

🧶👇

1) The BNB Loan APY of the largest lending protocol in the BSC ecosystem rapidly surged to 80% at 17:00 on November 24th, whereas the BNB loan APY was still 0.24% when @binance disclosed it yesterday;

2) The new project @HookedProtocol has finally been unveiled on Binance LaunchPad, after 9 months of preparations.

Some borrow information below:

3) How much will it cost to participate in HOOK by borrowing BNB?

🔹Assume you have 1 million USD and your collateral threshold is set to 80%, which is BNB 297 right now; you can borrow 2365 BNBs. 🔹Last time, around 8,750,000 BNBs were used in @Stepnofficial

4) 🔹A total of 25,000,000 HOOK is raised in the Binance LaunchPad 🔹Your borrowing cost is: 1,000,000 * 80% / 52 = 15384 🔹You are expected to get: 6757 HOOK 🔹Your participation cost: 0.1 🔹HOOK + participation cost is 2.27+0.1 = 2.37

5) The HOOK costs of various BNB Borrowing APYs are listed here.

🔹80% APY, 2.37 🔹70% APY,

2.1 🔹60% APY, 1.8 🔹50% APY, 1.52

6)

BNB loan APY is 80% as of thread publishing, with a HOOK price of 2.37. The calculation above is based on past data.

We will create another thread to demonstrate Learn2Earn using @HookedProtocol.

🧑‍💻Leave your comments!👇

Venus Protocol
This post is based on this twitter thread.

Comments

Please login to comment.