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Liquidation (Liquidation) is one of the familiar actions of Crypto. Usually, the liquidation will come from the platform itself to the debt user. But there is a project on Solana that specializes in liquidation for other projects, which is LIQ Protocol. This article will provide you with detailed information including:
- What is LIQ Protocol? What are the highlights of the project’s operating mechanism?
- Detailed information about tokenomics and how to store, buy and sell LIQ Token.
- Development roadmap and team, strategic partners of the project.
- Some projects are similar to LIQ Protocol so that you can evaluate the development potential of this project.
Let’s find out with CHK!
What is LIQ Protocol?
LIQ Protocol is a liquidation system for projects on Solana that are either derivatives (like Mango Markets) or borrowed (like Parrot, Port Finance,…). With the role of managing debts to be liquidated, LIQ Protocol will help loans and projects become “sane”, develop in a sustainable way, without excessive debt.
Highlights of LIQ Protocol
LIQ Protocol is a decentralized liquidation platform, with the mechanism that LIQ Protocol will check liquidated accounts, then fund them, and finally collect the collateral.
Thanks to the construction on Solana With high transaction processing speed, LIQ Protocol can promptly liquidate orders that are at dangerous thresholds, thereby making both Solana Ecosystem become balanced.
Profits accrued from liquidation, market making, and Hosting fees, will be used to buy back LIQ tokens, reducing the circulating supply. Tokens will be redistributed to LIQ liquidity providers on Raydium or Orca.
Currently, the money used for this liquidation comes from the project itself, which also comes from funds. But in the future, it may be possible to open more deposit features from users.
Token Information LIQ Protocol (LIQ)
Key Metrics LIQ
- Token Name: LIQ Protocol.
- Ticker: LIQ.
- Blockchain: Solana.
- Token Standard: SPL.
- Contract: 4wjPQJ6PrkC4dHhYghwJzGBVP78DkBzA2U3kHoFNBuhj
- Token Type: Utility, Governance.
- Total Supply: 20,000,000 LIQ.
- Circulating Supply: 9,000,000 LIQ.
LIQ Token Allocation
- Airdrop: 40%.
- Liquidity & Emission: 35%.
- Contributors: 20%.
- Marketing & Growth: 5%.
LIQ Token Sale
LIQ Token Release Schedule
Contributors: Cliff 6 months, then Vesting 3 years.
LIQ Token Use Case
LIQ is used to:
- Provide liquidity in LIQ Protocol to receive fees from liquidation.
- Governance, market voting, or liquidation of trading pairs using LIQ Protocol.
How to earn and own LIQ Token
You can own LIQ by buying tokens on exchanges.
LIQ Token exchange & storage wallet
LIQ token storage wallet – CHK Wallet
LIQ is a token belonging to SPL, so it will be stored on CHK Wallet follow these steps:
Step 1: At the main interface, select Receive.
Step 2: Enter LIQ in the search box.
Step 3: Copy the wallet address and send the LIQ token to this address.
LIQ token exchange – CHK Exchange
You can now trade LIQ right on CHK Exchange Follow the steps below at: https://exchange.CHK.com/
Step 1: Connect the wallet via CHK Extension.
Step 2: At the main screen of CHK Exchange, select CHK Exchange (Solana).
Step 3: Search for LIQ and select a trading pair.
Step 4: Enter the number of tokens you want to swap.
Step 5: Adjust gas Gwei and slippage (slippage) on demand, then Browse transactions (Approve).
In addition, you can also buy and sell LIQ tokens on CHK Wallet with the same operations as above.
Roadmaps & Updates
With the main application being liquidation support, LIQ Protocol in 2021 and 2022 focuses on collaborating with projects on Solana to increase its usage.
Project team, investors & partners
Many projects in Solana have cooperated with LIQ Protocol such as Mango Markets, Solend, Apricot, Port Finance,…
Above is all information about the LIQ Protocol project and the LIQ token. With the above products, development roadmap and vision, what do you think the future of LIQ coin will be? Please comment below to discuss with CHK!
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