This proposal outlines the advantages of Channels as a decentralized lending platform, the benefits that Channels is able to bring to Polygon, and the supports needed from Polygon.
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Channels Introduction
Channels (channels.finance) is the largest decentralized lending platform on HECO (Huobi ECO Chain) and the largest and safest DeFi lending platform in the Chinese market. Below list the key milestones of Channels in 2021:
• January: Channels launched on HECO, and audited by Fairy Proof and KNOWSEC ;
• February: Released V2.0 of the independently designed and developed decentralized oracle solution;
• March: Launched DAO and the function to support LP mortgage lending (first on HECO);
• April: Token CAN listed on Huobi Global, and other exchanges such as MXC, Hotbit, and BitZ;
• May: The TVL of Channels once reached US$1.4 billion, with deposit of US$1.1 billion, and borrowing US$0.3 billion;
• July: The current number of addresses exceeds 111,000, and Chinese/English community
users reached over 100,000;
• August: The Binance Smart Chain was launched on August 25, achieving a TVL of USD 180 million within three hours, making it the second largest lending platform on BSC.
• September：Channels on Arbitrum on 28th September
• October：Support multi-chain deployment, users can use Channels on BSC, Arbitrum and HECO. The PolyNetwork supports CAN cross-chain 1:1 exchange between BSC and HECO. -
Key Competitive Advantages
• Security: Channels has been running smoothly for 181 days without any safety incidents.
• Channels uses the ChainLink oracles and the risk control modes of Compound and AAVE.
• Largest LP mortgage lending platform: Channels is currently supporting 17 single tokens and 12 LP assets.
• The easiest-to-use lending platform: The platform has beautiful UI and user-friendly product interaction. It is well-known for its brilliant product experience.
• Strong developers team and community with consensus: Channels is famous for its development capacity with more than a dozen of world-class engineers and partners in Silicon Valley and Singapore. Its community volunteers are all over the world. -
Approaches to cooperation
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Supporting LP as collateral in Channels, Channels will offer CAN token for staking and borrowing，users could stake curve LP in channels and borrow other single token from Channels.
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Supports needed from curve
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Social media support:
• ① 1 AMA for Channels in official communities such as Telegram and Discord
• ② Promote Channels on official platforms such as Twitter and Medium