MyConstant integrates Fantom mainnet into p2p lending platform
We are thrilled to announce that the p2p lending protocol MyConstant has integrated Fantom Mainnet (FTM) tokens into its platform.
On MyConstant, FTM mainnet holders can now post their tokens as collateral for loans at competitive interest rates, issued in either crypto or USD. MyConstant already supports FTM-ERC20 and FTM-BEP2 tokens, and the incorporation of Fantom mainnet now offers all token holders an easy option to unlock the value of their FTM.
To leverage FTM tokens on MyConstant, users need only to pass a simple KYC process. No credit check is required, and as is standard across many lending platforms, borrowers are required to post 150% of the loan value as collateral. MyConstant charges a 3.5% fee for matching with a lender, and loan APRs vary according to the term length of the loan, between 6% to 7%.
MyConstant offers easy and quick withdrawals and promises security across the platform. Customer support is available 24/7, and the service ranks very highly for safety on reputable sites like TrustPilot.
“MyConstant is a customer-focused lending platform for lenders and borrowers, and we are very pleased to be working with them. Though they already serve Fantom BEP2 and ERC20 tokens, we see their integration of Fantom Mainnet as continuing validation of Fantom’s prominence as an EVM-compatible, high-performance Layer-1 network.” – Michael Kong, CEO, Fantom.
MyConstant is a p2p lending and borrowing hub that offers streamlined services with high security and minimal cost. For p2p lending, MyConstant partners with the US accredited custodial partner Prime Trust to allow investors to earn up to 7% APR with free withdrawals. MyConstant also allows users to securely borrow against over 70 cryptocurrencies from 6% APR.
Fantom is a fast, scalable, and secure layer-1 EVM-compatible platform built on a permissionless aBFT consensus protocol. On Fantom, transactions are confirmed in 1 second and cost a fraction of a cent. Speed, low transaction costs, and high throughput make Fantom ideal for DeFi applications and real-world use-cases.