Nuo Network: Safe Platform to Lend, Borrow and Trade Cryptocurrency?

What Is Nuo Network?

Nuo Network is a decentralized and transparent debt network that seeks to create an open financial system through global lending, trading, and a bonds network. The peer-to-peer Neo Network will connect lenders and borrowers from around the world using smart contracts and provide users with the ability to acquire long or short the crypto tokens including Bitcoin, Ethereum, MakerDAO and many more.

Lenders on the Network’s supply reserve pool with ETH or ERC20 tokens and earn interest on their crypto assets every single day while borrowers can borrow ETH or ERC20 tokens from the debt reserves created by the lenders and stake collateral using the Nuo Network smart contract.

How Nuo Network Works

After creating an account on the platform, the Nuo Network will automatically create a smart contract-based trading account for the user. The user is then required to transfer ETH or ERC20 tokens into the trading account to begin lending or borrowing on the network.

Users have the option of connecting their account with a trading account as a login method or sign a loan or reserve order instead of using a password. In order to be a lender on the platform and be part of the lending pool, users have to create debt reserve with their preferred token for a specific duration. After the reserve expires, the interest accrued is transferred to the lender’s trading account.

All the loans on Nuo Network are collateralized; therefore, for a borrower to acquire through creating a loan order; they should have 1.5x of the required loan amount as collateral. After the loan is matched to a reserve, it is instantly funded, and the funds are transferred into the borrower’s trading account, where they can withdraw them at any time.

To repay the loan, the borrower should have the loan amount plus the interest in their trading account. In case the borrower defaults on the loan, the collateral is used to repay the loan and the remaining collateral amount is returned to the borrower’s trading account.

Nuo Network Benefits

Multiple Assets

On the debt marketplace, borrowers will have access to a wide variety of long or short the crypto tokens such as Ethereum, Bitcoin, Kyber Network, Augur, Basic Attention Token, Wrapped Bitcoin and MakerDAO. Borrowers will have the ability to borrow the loans at a preferred interest rate and repayment period.

Collateralized Loans

Every loan issued on the platform is backed by collateral in the smart contract. Therefore, this gives the lenders an assurance that in case the borrower's default on the repayment of the loan, the collateral will pay them back their entire loan amount plus interest.

Smart Contract Integration

Nuo Network’s trading account implements smart contracts that provide users with complete control of their ETH and ERC20 tokens using Meta transactions. The smart contract also stores all the funds on the network, meaning that Nuo Network doesn’t have any control or access to the funds.

Margin Trading And Bonds

Nuo Network features a peer-to-peer global trading network made up of margin traders that have shared liquidity and up to 10x leverage, as well as a bonds network of liquidity providers, focused on non-fungible tokenized assets.

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Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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