Launching Toreus Finance: The Decentralized Lending Protocol Built on KAVA EVM Co-Chain
Toreus Finance, a lending protocol built on KAVA EVM Co-Chain, has recently deployed with the aim of providing fast, efficient, and low-cost lending services to users.
In this article, we’ll go over:
- What is Toreus Finance?
- $TORE Tokenomics
- Launch Timeline
This article is a slimmed down summary of our docs, which you can find here.
What is Toreus Finance?
Toreus Finance is a decentralized lending protocol following the Geist model that allows users to borrow and lend cryptocurrencies, including stablecoins, at competitive rates. The platform is built on the KAVA EVM Co-Chain, which enables it to benefit from the security and scalability of the KAVA network and the IBC Ecosystem.
The launch of Toreus Finance is a significant development in the DeFi space, as it offers a range of innovative features that differentiate it from other lending protocols. One of the key features of Toreus Finance is the use of its native token $TORE, which can be staked and/or locked to share in the protocols’ revenue. This means you can farm bluechips like wBTC & wETH while staking & locking and receiving additional $TORE rewards.
Another unique feature of Toreus Finance is its use of a hybrid interest rate model. This model combines the benefits of a fixed and variable interest rate, providing users with a predictable interest rate while also allowing for some flexibility. This makes it easier for users to plan their repayments and manage their debt.
Toreus Finance also offers a range of other benefits to users, including low fees, instant settlement, and collateralized loans. This means that users can borrow funds quickly and easily, without having to worry about high fees or long settlement times.
Tokenomics
Toreus will go live without a VC or a public/private seed sale a.k.a. Fair Launch. We felt that this lending market should allign with our communities’ values as much as possible. Meaning that most of the revenue generated will be given back to the community without the prospect of a big bag being able to dump on you.
$TORE has a hard cap of 100.000.000 (one hundred million) emitted over 5 years.
+---------------------------+--------+----------+-----------+
| Allocation | Amount | Cliff | Vesting |
+---------------------------+--------+----------+-----------+
| Team | 15% | 3 months | 12 months |
| Partnership & Reserve | 18.5% | 0 | 12 months |
| Liquidity Incentives | 15% | 0 | 60 months |
| Borrow/Lending Incentives | 50% | 0 | 60 months |
| Initial Liquidity | 1.5% | n/a | n/a |
+---------------------------+--------+----------+-----------+The allocations, after 60 months of emissions, is as follows:
The airdrop allocation is taken from the reserve, hence the total of 101%
Staking contracts are in place for each allocation which will be owned & controlled by our Multi-Sig.
Launch Timeline
T-2: Pre-deposit period, TGE & Fair Launch
ETA: Sunday 16th of April, around 15:00 GMT
Deposit and borrow is open. $TORE rewards are disabled.
Toreus team will create LP on Equilibré, making $TORE tradeble for the first time.
T0: Turning on emissions. Turn on the Liquidation🤖
ETA: Wednesday 19th of April, around noon GMT.
$TORE rewards are now live.
Users are able to enter Stake and/or Locking of $TORE to start earning protocol fees.
T+1: Listings on Coingecko/DeFiLlama/DeBank etc.
Application to list $TORE will be done as soon as contract address and LP address are set.
Defillama adapter will be created by the team to be eligible for KAVA RISE.
T+1: AcryptoS Compounding Vaults
Advanced Crypto Strategies (AcryptoS) will create auto-compounding vaults utilizing the deposit/borrow function that Toreus will offer. You can read more about these vaults over here.
We’ll do announcements of each event on Twitter and Discord, making sure you won’t miss a thing of this Fair Launch on Kava. We hope to see you soon!
App: https://toreus.finance/
Docs: https://docs.toreus.finance/
Twitter: https://twitter.com/toreusfinance
Discord: https://discord.gg/bguuZHdcxz
Linktree: https://linktr.ee/toreusfinance
