Egoras (New)

Egoras (New)

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Released on 11/18/2019 by a team based in the United States and Nigeria. The Egoras Protocol aims to address the problems faced by the microfinance sectors, such as high interest rates, dependence on banks and indebtedness. The Egoras Protocol uses a chain treasury system to ensure that the Egoras Protocol has no shortage of funds or liquidity for loans and that these funds are governed by the people. Finally, the Egoras protocol introduces collateral loans to deal with over-indebtedness in the microfinance sector, the assets of small businesses will be converted into non-fungible tokens and represent collateral, and these assets will be sold when the borrower defaults on the loan. All loans are over-secured by real-world assets such as real estate, vehicles, and supply chain bills. Real world resource support is represented as NFT. How it works By voting on Egoras, users can support the causes they care about and make an impact. Connect the wallet and block EGR on the Egoras Lending Protocol, browse by category and find an entrepreneur to support to receive ETH voting prizes. EGR voters receive two types of awards. First, they receive EGR vote rewards, which are created through inflationary monetary policy. Second, they receive ETH which is generated when borrowers pay off loans. EGR voters receive two types of awards. First, they receive EGR vote rewards, which are created through inflationary monetary policy. Second, they receive ETH which is generated when borrowers pay off loans. EGR holders are responsible for regulating Egoras' credit protocol, which includes approving and rejecting loans. EGR tokens locked during the governance process are returned to the holder 72 hours after the end of the governance process.