Aurigami (PLY)

Aurigami is a decentralized, non-custodial money market protocol on Aurora.

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Interest lvl

Medium

Updated: Jun 23, 2022

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User Rating

High

3.4/5 • 11 votes

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Ticker

PLY

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What is Aurigami

Aurigami is a decentralised, non-custodial liquidity protocol. The protocol enables users to effortlessly lend, borrow, and earn interest with their digital assets. Depositors provide liquidity to the protocol to earn a passive income, while borrowers are able to borrow in an over-collateralised fashion.

To interact with Aurigami, users simply deposit their preferred assets supported by the protocol. Depositing assets into Aurigami entitles users to interest earning based on the market borrowing demand. Additionally, deposited assets can be used as collaterals to borrow other assets. Interest earned from deposited assets will help offset the accumulated interest from borrowing.

User deposited funds are allocated in Smart Contracts. Depositors/Lenders will be issued tokenized yield-bearing tokens (auTokens) which will be used for on-demand withdrawal of deposited funds from the pools. AuTokens are tradable and transferrable.