General

What is Moria Protocol v1

Moria Protocol is a decentralized borrowing protocol that lets users deposit BCH as collateral, and mint the stablecoin MUSD.

How it works

• Borrow Tokens: Lock in your BCH collateral to borrow MUSD tokens and a loan NFT.

• Swap your MUSD: Use the decentralized exchange Cauldron DEX to swap your MUSD to other assets.

• Keep the loan healty: Maintain a healthy collateral coverage to avoid having your loan liquidated. Keep interest rate above the redemption threshold to prevent others from redeeming your position.

• Repay and Unlock: Repay your borrowed tokens to unlock your BCH collateral

Key features

• Oracle-based: Moria Protocol uses an on-chain D3lphi price oracle to ensure an accurate and transparent price feed

• Incentivized Floating Peg: Built-in market incentives to maintain token value.

• Flexible Repayment: Open repayments allow anyone to clear the debt when collateral is insufficient.

• Loan NFT: The loan NFT proves the ownership of the loan position. This NFT is transferrable, tradeable and can be used in other smart contracts.