Constant announces support for TOMO tokens on its fully secured peer-to-peer lending platform
CALIFORNIA — June 5th, 2019 — Constant, a decentralized finance blockchain project, today announced it will now accept TOMO tokens (https://tomochain.com/) as collateral for loans through its P2P lending platform.
“TomoChain is already a valued partner and this brings our communities even closer together,” said Duy Huynh, founder of Constant. “We introduced the first stablecoin on TomoChain earlier this month, and now, TOMO holders can borrow against their tokens without sacrificing the utility or potential uplift in value of those tokens.”
To celebrate this partnership, for 48 hours, Constant will match loans collateralized by TOMO at interest rates starting from 4.5%.
Constant is the first fully secured peer-to-peer lending platform built on blockchain technology. Investors choose their own interest rates, funding borrowers willing to pay them. All borrowers secure their loan with cryptocurrency, which is sold if they default or if its value falls below a certain threshold.
TomoChain has announced several strategic partnerships in recent months, increasing demand for its native TOMO token. As the currency of TomoChain dApps, TOMO is fundamental to the TomoChain ecosystem. The Constant partnership will add further value for TOMO holders by unlocking liquidity in fiat, ERC-20, or TRC-20 (TomoChain) tokens.
“TOMO holders can withdraw loans straight to their TRC20 wallet,” added Huynh. “Not only does this cut out the middleman, but it could help TOMO holders build a reserve using their existing assets as leverage — not just for investment, but also masternode applications or voting rights.”
TomoChain is a scalability solution for blockchains like Ethereum. It’s EVM-compatible, features a 150-masternode architecture, and operates under a Proof of Stake Voting (PoSV) consensus mechanism. It also includes TomoSwap, a decentralized exchange that will convert Constant loans into TOMO at the borrower’s request.
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Headquartered in California, Constant is an alternative financial services platform designed to strip out the inefficiencies of the traditional banking industry and help people get more out of their money. Constant was founded by a team of scientists, economists, engineers, and designers, fully devoted to the mission of building simple, elegant financial tools for an increasingly interconnected world.
TomoChain is an innovative solution to the scalability problem of Ethereum and other blockchain platforms. TomoChain relies on a system of 150 Masternodes with Proof of Stake Voting (POSV) consensus that can support low transaction fees and 2-second transaction confirmation times. Security, stability and chain finality are guaranteed via novel techniques such as double validation, staking via smart-contracts, and true randomization processes.
The promotional period for the special rate of 4.5% for TOMO collateralized loans has now elapsed.
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