Shield Finance will deploy Market Crash Protection contracts for Relite + Relite will deploy lending pool contracts for Shield Finance
Shield Finance ($SHLD) is excited to announce a partnership with Relite ($RELI) — a cross-chain lending protocol powered by Polkadot.
Summary
- Shield Finance will deploy Market Crash Protection contracts for Relite. These contracts will allow the $RELI token holders to buy protection against a potential crash due to market-wide sell-off. $RELI token holders will have a right to sell $RELI at a guaranteed price (no matter what the market price will be). This will improve the stability of the Relite reserve fund by supporting the price of $RELI token. More information: Market Crash Protection.
- Relite will provide lending pools for $SHLD. This will allow $SHLD investors to get cash for daily operations while holding the token. For $SHLD traders, it will provide an opportunity to build leveraged positions (borrow $ETH against $SHLD, buy more $SHLD) - all with the help of Relite cross-chain lending pools.
Denis Gorbachev, CEO of Shield Finance, said: “Relite is a great partner, we’ve already been helping each other even before the formal partnership. This announcement makes official what we’ve already agreed upon earlier. Looking forward to developing our products together & integrating them to provide a better experience for traders & investors.”
George Groshkov, CEO of Relite, said: “I couldn't be more glad to welcome this amazing partnership! The collaboration with Shield Finance will add more sustainability to the Relite native token, preventing all $RELI holders from unexpected loss caused by the highly volatile market. Another great thing is having a $SHLD token pool available for instant cross-chain lending on our upcoming platform.”
About Relite
Relite Finance is a cross-chain DeFi money market protocol that enables users to lend, borrow, and stake all crypto assets in one interface by utilizing Polkadot’s Moonbeam Parachain, bridges, and a unique reserve fund module. Relite plans on creating interoperability with Bitcoin, Ethereum, and other blockchains. In addition, Relite plans to implement collateralization of NFTs with better fees and usability than other protocols can offer.
Website: relite.finance
Telegram: @ReliteFinanceOfficial
Twitter: @relitefinance
Medium: @relitefinance
About Shield Finance
Shield Finance is a multi-chain DeFi Insurance Aggregator that allows users to buy protection against major market crashes due to hacks, exploits, rug pulls, sell-offs, and other black swan events. We are currently integrating multiple insurance providers to provide our users with reduced slippage and expansive coverage.
