Lending Market Utility

$veVOID and $VOID as an integral part of the Distant Lending market.

The Lending market charges a fee of 5% for every loan granted to a lender by a borrower on the Distant ecosystem. This fee which includes the finance charge and processing fee will be converted into the Distant native token $VOID. Buybacks to keep the system afloat at all times 70% of the fee will be attributed to the Treasury to which 40% will be distributed to Protocol participants staking the $VOID token and 30% goes to the pool reserved for veVOID holders 30% goes back to the protocol reserve pool for future deployment

$veVOID holders in the community will be given governance right to decide on proposals such as:

  • the financial charge for borrowing assets from the Lending market

  • the collateral type of NFT that can be accepted on the protocol

  • the collateral value for loans granted to borrowers

The use of $VOID tokens to fund collateralized loans is another proposed utility that the team hopes to bring in the limelight on one of our Distance Labs pioneered proposals

With the use of $VOID in funding loans, comes an added utility cover in the Lending market but also the shortcomings of selling the $VOID token by the borrower for their reasons. It's regarded as an important implementation proposal by the team

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