Burrow Finance
ValidatedDeFi
Lending
BRRR$0.0067-2.04% ↓
A lending protocol on Near
- 20 Followers20 Followers
- 18 Likes18 Likes
About Burrow Finance
Burrow is a decentralized, non-custodial, pool-based interest rates platform that enables users to supply assets to earn interest, and to borrow against them to unlock liquidity. Burrow is similar in nature to Aave, Compound, and other pool-based protocols. Burrow runs natively on the NEAR blockchain, a layer 1, proof-of-stake, sharded blockchain with a WebAssembly runtime. The Burrow protocol's smart contracts are written in Rust. Burrow aims to unlock liquidity for interest-bearing assets, par…
Burrow Finance is a decentralized lending and borrowing platform that operates on the NEAR blockchain. The project allows users to supply multiple types of assets, including staked assets such as stNEAR, and use them as collateral to borrow other cryptocurrencies.
Burrow is designed to improve liquidity and capital efficiency in the DeFi space, enabling users to earn interest on their deposits while accessing liquidity without liquidating their assets. This approach makes Burrow Finance a powerful solution for users looking to maximize their asset utility in decentralized finance.
Burrow Finance Magic Store Validation Score
See Results ››Burrow Finance Review Score by Real Users
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Dive in, the water is great! On NEAR, so already a fan. Burrow is one of the few pool providers where the non-boosted APY for borrowing is less that the APY for lending. This means that you can borrow and then lend the borrowed funds for a profit. Plus you can stake $BRRR and boost your rewards even higher!Read More ››
0 people found this review funny
Burrow Finance looks great! Here, a large, solid team, the ideas of the team and the development trend amazed their greatness! We are looking forward to the possibility of your product! Read More ››
0 people found this review funny
BRRR Token Price Chart (Real Time)
Token Statistics
- Market Cap$4,063,457.00
- Volume$35.77
- Circulating Supply606,217,573.657
- Max Supply1,000,000,000
- FDMC$6,702,968
About Burrow Token
$BRRR is the native token of Burrow Finance, designed to serve multiple roles within the decentralized finance (DeFi) platform. The primary utility of the token is to incentivize liquidity providers and borrowers, ensuring a robust lending and borrowing ecosystem on the NEAR blockchain.
Users can earn $BRRR as a reward for supplying assets or borrowing against their collateral on the Burrow platform. Beyond incentives, the token also plays a role in governance, allowing users to vote on crucial protocol upgrades and changes. This provides a decentralized approach to platform management, empowering the community to influence its future development.
From a tokenomics perspective, $BRRR is designed with sustainability in mind. The supply is gradually distributed to liquidity providers and governance participants to prevent inflationary pressures while encouraging long-term engagement. Moreover, $BRRR is tradable on decentralized exchanges such as Ref Finance, enabling users to trade or acquire the token easily.
Burrow Finance Magic Store Trust Score
- Audit Score
- 0No. Of. Audits
- MediumScore
- Security Validators Score
- 16.10.2024Validation Date
Burrow Finance User Trust Reviews
As an avid user of cryptocurrency platforms, I recently came across Burrow Finance and was genuinely impressed by its unique approach to lending in the DeFi space. As a lending protocol on Near, it has quickly risen through the ranks and garnered attention from both seasoned investors and newcomers alike. One of the standout features of Burrow Finance is its user-friendly interface that makes navigating through various loan options an absolute breeze. The platform's design ensures that even those who are relatively new to DeFi can easily understand how it works, making it a great choice for beginners and experts alike. Burrow Finance offers a wide range of lending pools with competitive interest rates, allowing users like myself to borrow funds at attractive terms while also earning passive income on their crypto assets. The platform's unique approach to lending ensures that the risk is well-managed, making it an ideal choice for those looking to invest in DeFi without taking unnecessary risks. Another aspect I appreciate about Burrow Finance is its commitment to security and transparency. As a NEAR-based protocol, it benefits from the robust infrastructure of the Near network while also maintaining complete visibility into all aspects of lending operations through its comprehensive dashboard. This level of transparency fosters trust among users and promotes long-term growth in the DeFi ecosystem. In conclusion, Burrow Finance has quickly established itself as a top contender in the world of decentralized finance on Near by offering an innovative lending platform with user-friendly features, competitive interest rates, and robust security measures. I highly recommend giving this platform a try if you're looking for a reliable way to invest in crypto loans while also earning passive income!Read More ››
0 people found this review funny
On NEAR, so already a fan. Burrow is one of the few pool providers where the non-boosted APY for borrowing is less that the APY for lending. This means that you can borrow and then lend the borrowed funds for a profit. Plus you can stake $BRRR and boost your rewards even higher!Read More ››
0 people found this review funny
Burrow Finance looks great! Here, a large, solid team, the ideas of the team and the development trend amazed their greatness! We are looking forward to the possibility of your product! Read More ››
0 people found this review funny
Burrow Finance FAQ
Burrow Finance stands out by focusing on NEAR blockchain's unique capabilities, including its low fees and fast transaction speeds. The platform also allows users to deposit staking derivatives like stNEAR and stETH as collateral, maximizing yield through leveraged staking. Learn more at Burrow Finance.
You can deposit stNEAR as collateral to borrow other assets or participate in leveraged staking, where you can borrow more NEAR to stake again, optimizing returns. This allows you to maintain exposure to your staked assets while gaining liquidity. For a complete guide, visit here.
Burrow employs multiple layers of security, including smart contract audits and a robust bug bounty program to identify vulnerabilities. The platform is non-custodial, meaning users retain full control over their assets at all times. To read more on security features, visit Burrow's documentation.
Yes! You can earn $BRRR tokens by simply supplying assets to Burrow Finance. These rewards incentivize liquidity provision on the platform. As you supply assets, you automatically begin earning interest and rewards, further boosting your yield. Learn more about how to earn here.
The health factor determines the safety of your borrowing position. It is calculated by comparing the value of your collateral to your borrowed amount. A higher health factor indicates a safer position, while a lower one may lead to liquidation. Learn how to manage it in Burrow's documentation.