Deposits

Lend USDC to get rewards

Earn from lending without risking your own funds.

By depositing your USDC into our protocol, you are in fact making a regular deposit as if in a bank. In fact, after the deposit, your tokens are used as a loan to those who left their NFTs in the protocol as collateral.

APR in the deposits depends on the ratio of the number of coins in the deposit to the number of borrowed coins.

After the deposit, in exchange for your tokens, you get “bgl” tokens. You can sell them at any time, or put them on withdrawal to get the full amount without paying exchange commissions, spread and others.

Increasing bgl Token Value

The value of bgl relative to native tokens has been increasing steadily. This is due to creditor payments and liquidations. Since bglUSDC is liquid, you can use it in any DeFi application that can provide you with double the profit (analogy to liquid staking).

Unbonding Period

Unbonding Period - 2 weeks. After unbonding, you can exchange bgl Token for native token without comissions. During unbond, no rewards are earned

Reserve liquidity

Depositors making deposits replenish the regular (regular, not common!) USDC pool, which affects the deposit rate. There is also a reserve pool, replenished by admin, contract, which solves the following problems:

1. Providing liquidity for loans during the period when depositors have not yet had time to fill the main pool with deposits

2. Providing liquidity to return deposits at a profit when borrowers have not yet had time to fill the main pool with debt repayments In this case, the reserve pool does not affect the deposit rate (and depositor behavior accordingly), so the liquidity of the core pool moves organically