1H
-0.23%$0.0028
24H
2.56%$0.0305
7D
-3.17%$0.0399
30D
-9.43%$0.1270
Elastos is a blockchain-powered Internet in which you have complete control of your digital assets. As a creator, this includes your books, movies, games, etc. Or even as an average user, your data. The project’s team believes that Ethereum and other dapp platforms face limitations at scale. They argue that they’re great for smart contracts but are slow, inflexible, and inconvenient for full applications. On a fundamental level, Elastos is a platform for decentralized apps (dapps) that solves these issues. ELA is the currency of the Elastos network. You can use them for any activity on the system such as investing in digital assets, trading, or paying fees – to name a few. The token economics and distribution for this token are complex. The team minted 33 million ELA in the Genesis block, and a large chunk of them was locked up by investors for interest rewards. Those rewards vary from 4 to 6 percent depending on the lock-up duration. The team has also reserved half of the token supply to reward people who contribute to the ecosystem. Additionally, the network creates ELA at a 4% yearly inflation rate through a process called merged mining.
In this guide, we will delve into the details of how crypto loans work, the different existing models (CeFi and DeFi), the requirements for applying, ways to use the obtained capital, and the advantages and disadvantages to consider before taking on debt.
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