BitLoop is a "lending smart contract developed on the blockchain", a money market lending protocol based on the Ethereum network (EVM) in which there are two roles, the depositor and borrower of the asset, the depositor And Borrower Assets Borrowers can interact directly with the protocol in order to earn or be paid floating rate dividends on their investments.
In BitLoop, anyone can provide or lend cryptocurrency with zero risk, and in order to receive income rewards, cryptocurrency holders can store funds in the BitNestLoop lending smart contract, conduct zero-risk short-term liquidity business and zero-risk short-term Lending business, and increase turnover through the liquidity of BitNestLoop smart lending contract to ensure that your profits are returned. Users of BitNestLoop funds can also skip the complex processes of traditional lending and financial audits and quickly borrow funds to solve urgent needs.
BitLoop uses this project to pay tribute to Mr. Muhammad Yunus and his GrameenBank, using the Defi method to do the same thing for the whole world, solving the problem of excessive loan interest rates in developing countries under the world's existing financial system, and allowing cross-border capital flows to be facilitated. Proper configuration and use. It solves the problem of high borrowing interest rates and high thresholds for developing countries. In France, the annual interest rate on loans is 1.8%; in Germany, the annual interest rate on loans is 2.6%; even in the United Kingdom, the annual interest rate on loans is only 4%. But in developing countries, loan interest rates are very high. The annual interest rate for loans in India is 8%, Turkey is 12%, Colombia is 19%, and Brazil is 30%. In China, the annual interest rate for private loans is even more than 36%. In this highly irrational financial environment, the lending industry does not serve everyone equally, which will seriously deviate from the original purpose of the industry. What BitLoop has done is change the trajectory of traditional lending, reinvigorating Muhammad’s original vision for the industry and making it more relevant for today’s times. Through the BitLoop smart lending protocol, it provides an ample supply of funds to those who have the means but lack liquidity.
At the same time, it is equally important for capital providers to receive stable dividends. BitLoop prioritizes the development of risk-free short-term loans and risk-free ultra-short-term loans, through smart contract protocols, to constrain and attract a large number of cryptocurrency holders and investment institutions by providing them with losses - unsecured, large and stable supply of funds, borrowing and lending through collateral The agreement guarantees the capital security and profits of the capital provider. The supplier's security and profits are guaranteed through the mortgage agreement.
The great thing about BitLoop is that they are 100% secure, 100% transparent and very efficient compared to traditional lenders. BitLoop smart lending contracts do not require the involvement of a centralized agency, but use blockchain technology and smart contracts to automate transactions. It does not require any centralized agency to check your credit score, verify your true identity or spend days or weeks time to review your application.
BitLoop Smart Contracts uses revolutionary smart contract technology to provide comprehensive financial services that help the poor realize their potential, break the cycle of poverty, alleviate poverty in less developed parts of the world, and empower the marginalized poor.
Unique highlights
BitLoop adopts a distributed and decentralized liquidity return method. When users deposit USDT into the BitLoop smart lending contract, the contract will automatically run and return it.
Open and transparent
BitLoop is open and transparent, does not require any permission, and can be accessed by anyone without the need for certification by a central authority. Users can enjoy the same DeFi services no matter where they are.
Decentralization
A BitLoop smart contract has no owner or administrator, it is deployed as a smart contract and runs independently from the moment the deployment is completed. No one can tamper with it, even founders and developers can only participate as ordinary users. Because smart contracts are essentially irreversible.
interoperability
Interoperability No CEO or owner can change the rules and terms of the BitLoop ecosystem. Founders are ordinary users who will follow the same rules and mechanisms as everyone else in the community.
financial security
BitLoop funds are secure and when a smart contract receives funds from a user, its code will be executed by all nodes in the network to reach consensus on the outcome and value generated. This allows smart contracts to run securely without any central authority, so it is very secure.