Teller Finance Announces October Launch with Liquidity Program, Token Governance and Compound Integration
Summary
SAN FRANCISCO--(BUSINESS WIRE)--Teller Finance, a blockchain project for decentralized unsecured lending, today announced its October launch plans along with a governance token ($TLR), liquidity program and Compound integration. “The DeFi industry has grown roughly 675% in the last 12 months to more than $10 billion in value, with most of its capital locked in debt markets,” said Ivan Perez, Teller Finance COO. Additionally, Teller has imposed a 3-month lockup on all capital contributed to the program, restricting all earned tokens to a vesting schedule equal to the length of the lock up. “Unlike other DeFi protocols, Teller is managing sensitive consumer data, subject to varying degrees of jurisdictional regulations, and working with a growing list of traditional finance partners and major API providers. Namely, lowering the barrier to entry for new DeFi users by pricing out risk, and reducing the industry’s need for collateralized debt positions,” said Robert Leshner, founder and CEO of Compound.