MoreMoney allows users to open an overcollateralized loan to borrow a yield-bearing stablecoin (MONEY).

Lending

MoreMoney

Protocol Code Quality

Protocol Maturity

Protocol Design

Risk Rating

Watch Out

* [Documentation](https://moremoney.gitbook.io/docs/) 
 * Auditors 
 	* [Audits](https://github.com/MoreMoney-Finance/audits/blob/main/PeckShield-Audit-Report-Moremoney-1.0.pdf) 
 * Please see our [FAQ on experienced auditors](https://help.exponential.fi/en/articles/6381015-what-are-experienced-auditors)

Exploit/Hacks

green

None

* [Website](https://app.moremoney.finance/)  
 * Token: MORE  
 * Tags: Lending

Info

* TVL: $517.1K (Rank #152)  
 * TVL Ranking by Lending: #30  
 * Blockchain: Avalanche  
 * Chain TVL  
 	* Avalanche: $517.11K

Key Metrics

Information


- Code reviewed by at least one experienced auditor; [PeckShield](https://github.com/MoreMoney-Finance/audits/blob/main/PeckShield-Audit-Report-Moremoney-1.0.pdf) audited in December 2021
- Anonymous team reduces transparency
- No documented protocol hacks since launch
- Robust controls to mitigate oracle price manipulation

yellow


- Core protocol launched in 2022; maturity less than a year increases technical risk as smart contracts are less battle-tested
- Bottom 80% by total value locked increases risk
- Governance decentralization is in the roadmap
- At least one critical governance issue documented
- Low voting power concentration reduces risk


- No concerns identified
- Isolated markets enable asset risks to be contained to each individual pool without impacting the entire protocol

Risk Assessment

Moremoney is an isolated lending protocol for borrowing collateralized debt positions (CDP) using liquidity provider (LP) tokens.

What we like

The platform currently offers a limited number of LP tokens to borrow against.

What we like less

Provides you a simple way to hedge your asset exposure while still earning yield as the deposited collateral gets redeposited on select partner lending protocols to earn interest.

What it means for you

Summary

#### How Moremoney works
Moremoney is an isolated lending platform that enables users to open CDPs. Borrowers mint the MONEY overcollateralized stablecoin by depositing collateral, which earns yield as it is redeposited in select lending protocols. The rewards earned from collateral is automatically compounded back into the collateral over time. This strategy is automatically assigned for single asset tokens. Moremoney currently uses Yield Yak, Benqi, Aave and Banker Joe to earn additional yield on idle collateral.
#### How Moremoney makes money
The platform charges borrowers a variable interest rate that is determined based on the USD peg on-chain. This means if 1 MONEY equals 1 USD, then the interest rate will remain at the base rate. If MONEY trades less than 1 USD, then the interest rate will go up to encourage borrowers to close out their loans and reduce the circulating supply. The protocol also generates revenue from a 0.1% minting fee and fees on yield generated from collateral.
#### How you make money on Moremoney
You can deposit crypto assets into Moremoney to mint MONEY to be used across DeFi for lending and market making. The deposited assets are interest-bearing and will continue to generate yield for you. MORE stakers also receive 70% of all platform revenue and MONEY holders who stake for iMONEY earn 90% of interest paid by MONEY borrowers.