Bonzo Finance is a non-custodial lending and borrowing protocol built on the Hedera network, utilizing open-source Aave v2 technology and Supra oracles for reliable price feeds. The platform enables users to supply crypto assets for passive income and access instant loans against their collateral, addressing the need for liquidity without asset liquidation.
Funding
Funding not disclosed
Founders
Product
Problem
Users on the Hedera network lack a native, decentralized platform for lending and borrowing crypto assets, limiting opportunities for generating yield and accessing liquidity without selling their holdings. This absence hinders the growth of a robust DeFi ecosystem within Hedera.
Solution
Bonzo Finance provides a non-custodial lending and borrowing protocol on the Hedera network, enabling users to supply crypto assets and earn interest or borrow assets against their collateral. Built on Aave v2 technology and utilizing Supra oracles, the platform offers a secure and transparent environment for accessing instant loans and generating passive income. By supplying assets to the protocol, users provide liquidity to borrowers while earning competitive interest rates.
Target Audience
The primary audience includes Hedera network users seeking opportunities to earn yield on their crypto assets and access decentralized loans.
Features
- Supply crypto assets to earn passive income through interest payments.
- Borrow a variety of assets by using crypto holdings as collateral.
- Support for HBAR, HBARX, USDC, SAUCE, XSAUCE, KARATE, HST, DOVU, PACK, and STEAM.
- Integration with Supra oracles for accurate and reliable price feeds.
- Points system that rewards users for supplying liquidity and borrowing assets.
- Auto-compounding yield and rewards for protocol participation.
- Audited by Halborn to ensure smart contract security.