Are you looking to buy something but do not want to risk your crypto investment? Fortunately, there’s a solution. Ghoul Finance presents you gDAI – an ultimate solution to deposit your crypto in a vault and borrow stablecoins. By using these stable coins you can start purchasing stuff you want.

gDAI gives you the option for zero interest crypto lending. This feature enables you to spend without selling your crypto assets. You can repay the loan whenever you want or use the gDAI to buy more crypto assets.

There are different components of gDAI like a vault, two token, decentralized, user-managed and overcollateralized vaults. Users can add BNB, ETH, DAI, BTC as collateral to get the gDAI token. Let’s dive deep into knowing more about gDAI!

What is gDAI?

gDAI is a stable coin supported by collateral tokens in a vault. It proceeds with the following simple steps, i.e. make a gDAI vault, accumulate your crypto assets, and borrow the stablecoins against the assets or collateral you have deposited.

Whenever users place accepted tokens as security in vaults, they get loans against the collaterals. They have to add the collaterals in vaults and get 2/3^rd of the USD value against their deposited securities. Users can access your newly made gDAI in your wallet.

Another way users can ensure collateral backing and create gDAI is through Swap. This feature enables the users to mint gDAI by placing stablecoins and vice versa. Let’s say you have DAI as stablecoin, now you can swap DAI for gDAI by depositing DAI as collateral. It will create new gDAI, while keeping your DAI safe in a treasury.

Ghoul Finance – Protocol for gDAI

Ghoul.finance is the first project from our roadmap – a protocol for stablecoin called GhostDAI (gDAI). It will target users with on-chain privacy concerns to get the gDAI issued with an untraceable stable coin option. Until now, the BNB, ETH, DAI, BTC, etc. were the ones taken as collateral to mint gDAI

Components of gDAI

Overcollateralized vault s- gDAI depends upon collateral vaults to define its value. At all times, collateral fully sponsors the gDAI stablecoins.

Vault – Users borrow the gDAI in vaults after placing the collateral.

Decentralized and user-managed – It is made on market incentives and penalties. It allows the users to have more control as no centralized authority or algorithm checks on it.

Two Tokens – gDAI is the stable coin comprised of two tokens i.e. GhoulDAO Protocol and GhoulX.

Benefits of gDAI

●        Repay at any time

There is no scheduled monthly or weekly payment to pay back the loans. Users can give it back at any time according to their ease and needs.he

●        Zero Interest borrowing

Users can borrow stable coins without any interest when they deposit the collateral.

●        More Control Over Funds

It gives the users more control as they do not need permission or a credit card to get gDAI.

●        Buy More Assets

By borrowing gDAI users can expand their assets. For instance, users can borrow gDAI to purchase other tokens like GHOUL to protect your ETH exposure.

Conclusion

gDAI is a great way to secure and hold crypto assets for their long-term potential. It provides more freedom for the users to use crypto by placing tokens as collateral with no time limit for repayment. Moreover, users can also buy and expand assets by borrowing gDAI.

So what are you waiting for? Try your hands on a zero interest crypto lending solution to retain your crypto while still using its value through gDAI.

Link: https://ghoul.finance