FAQ
How does Tectonic work?
Tectonic is a decentralized, non-custodial money market protocol on the Cronos blockchain that enables users to earn passive income by supplying assets and accessing instant, overcollateralized loans. It supports a variety of cryptocurrencies and offers features like isolated lending pools, collateral swaps, and a dynamic interest rate model to cater to both passive investors and active traders. The platform is powered by the TONIC token, which serves governance, staking, and reward functions within the ecosystem.
Is Tectonic a secure platform?
Tectonic prioritizes security by employing smart contracts inspired by the well-established Compound protocol and has undergone external audits by firms like Slowmist. The platform's architecture includes mechanisms such as over-collateralization and automated liquidations to manage risk. Additionally, Tectonic adheres to industry standards to protect user assets and data.
How to use Tectonic?
To use Tectonic, connect a compatible wallet (e.g., MetaMask) to the Cronos network and deposit supported cryptocurrencies into the platform to earn interest. To borrow assets, supply collateral and select the desired asset to borrow, ensuring that the loan-to-value ratio remains within safe limits to avoid liquidation. Users can also stake TONIC tokens to earn rewards and participate in governance.
What services does Tectonic offer?
Tectonic offers decentralized lending and borrowing services, allowing users to earn interest on supplied assets and access over-collateralized loans. The platform supports various cryptocurrencies and includes features like isolated lending pools, collateral swaps, and dynamic interest rates. Additionally, Tectonic provides staking opportunities for its native TONIC token, enabling users to earn rewards and participate in protocol governance.
